Our Accounting & Tax Department offers the following services:

• Registration of the business entity with the Registrar of Companies and Close Corporations and appointment as Accounting Officer.
• Registration of the client for all statutory institutions for Income Tax, Value-Added Tax (VAT), Skills Development Levy (SDL), Pay As You Earn (PAYE), Unemployment Insurance Fund (UIF), Workmen’s Compensation and Regional Services Councils.
• Submitting of EMP201, VAT201, IRP6 and IT56 with payments to SARS.
• Submitting of monthly RSC returns with payments.
• Submission of annual IT12 Tax Returns for individuals and trusts, IT14 Tax Returns for Close Corporations and Companies.
• Reconciliation of IRP501 and issuing of IRP5 and IT3(a) certificates to all relevant employees and members of close corporations.
• Reconciliation of IT34 – SARS assessments, after submission of IT12 and IT14 returns.
• Lodging of formal objections to SARS regarding variances on IT34.
• Handling all correspondence with / to SARS.
• Setting up of accounting systems on Pastel Accounting software for clients according to specific sector and business requirements.
• Processing of monthly transactions from source documents i.e. cheques, bank statements and invoices to compile a payments and receipts cash book.
• Allocation of payments in cash books, credit card cash books and petty cash books to the relevant cost centres applicable to Accounting Standards and the nature of the business.
• Monthly bank reconciliations of cash books to establish outstanding cheques.
• Processing debtors and creditors to obtain monthly age analysis.
• Full accounting system to Trial Balance, Income Statement and Balance Sheet with Sage Pastel accounting software.
• If our client is registered with The Compensation Commissioner we submit a WAs8 before 31 March of each year.
• Compiling of Financial Statements which includes Income Statement, Balance Sheet and Cash Flow Statement as at year end for submission to SARS.
• Communicating with Bank Institutions on behalf of our client.
• Providing cash flow and financial statements on a regular basis to the relevant banking institution for purposes of re-evaluating credit facilities for the client.
• Setting up of Comprehensive Business Plans and assisting with application for commercial finance with Banking Institutions.
• Compiling of Private Assets and Liabilities Statements for the individual and submission to SARS.
• Negotiations with the clients of the business entity and construction of formal agreements between them.
• Assisting with the completion and submission of Tender Documents.
• Analysing of financial information to calculate certain relevant financial formulae as to identify areas of attention within the core business activities i.e. Solvency and Liquidity.
• We offer financial planning, estate and retirement planning for the individuals of the business as well as for the business entity itself.
• Constructing salary packages for the employees and handling of the Income Tax affairs with SARS.
• Full payroll administration function using the Pastel Payroll system and providing weekly, fortnightly and/or monthly payment advices to all employees of the business.
• Assisting with any employee disputes regarding employment contracts, disciplinary hearings, leave pay, bonuses, increases etc.
• Working in conjunction with carefully selected partners, Fincor offers a full range of trust company services, to ensure that your affairs are in professional hands and that your loved ones are protected.