Accounting Services along with Project reports for engineering,

Accounting Services along with Project reports for engineering, Management Information, System Reporting, Business Plans for Equity and Enterprise Valuations, Software corporation assignment report and Payroll Services in Pretoria.

The Benefits of accounting services to every enterprise is something if you want to hardly be ignored in any suggests. This is be the purpose why agencies setting out to take it seriously now a days over ever before as they need located the positions its facts yet as functionality can have interaction in permitting them reap their objectives and targets over a given quantity of some time.

Here is that the best manner

Are you considering the way to do effective accounting on your business? Does one understand that with the help of online accounting offerings such may be a get into the park? Just in case you're thinking about effecting this technique to your own, you will want to ponder analyzing this post from start to complete. This is frequently as it'll be progressing to have you ever uncovered to some of the very best edges of on line accounting services. They're going to facilitate to very own you tuned in to why you wish to start mistreatment such companies on your business these days.

It can shop some time

Do you want to recognize why your commercial enterprise isn't shifting in the interim? It's because of the very truth that you just try and try to do too several things at a time. With the advent of on-line accounting services, you've got the risk to source the accounting side of your commercial enterprise to a expert agency which is capable of make certain that every one the monetary aspects of your commercial enterprise is blanketed within the method that they need to.

This reasons you to be terribly powerful in opportunity activities that allows you to would like your interest. Do now not overlook that accounting is not totally technical however additionally terribly exigent once it entails time. This is often due to the fact for the records to be top, every oversight can need to be compelled to be taken care of flow into the simplest capacity manner.

Handling of Payments

This is one a few of the elements wherever you may realize it extraordinarily tough to attempt to do at the same time as not hiring online accounting services. They need been determined to be platforms anywhere consider and self assurance are created among enterprise house owners and their team of workers. Making and try to live tune of who and as soon as to pay isn't simple in any approach. Through the offerings rendered by using these experts, you may see that such might be treated.

Moreover, it's capability that you simply can also make mistakes as soon as making and try and cope with this in your personal as you aren't a professional. Professional on line accounting services try to make sure that there are not any rooms for mistakes once dealing with economic issues.

Professional Advice Accounting and Tax

This is maybe one facet wherever on-line accounting offerings will hardly be unheeded. They're going to make sure which you're given the only objects of advice in opportunity to confirm that financial sports are handled in a totally skilled way. Several companies are  in recent times due to the very reality that their owners can't appear to comprehend but monetary topics will be treated. These experts are there to affirm that you just are given skilled steerage every time they're called upon at any time of the day.

EMP Payroll returns – PAYE, UIF, SDL, IRP5s

Tax Compliance Status

SARS’s system makes it easier for taxpayers to obtain a Tax Clearance Certificate (TCC) and the system allows taxpayers to obtain a Tax Compliance Status PIN which can be used by third parties to verify your compliance status online via SARS eFiling.

To be tax compliant you need to:

• Have all outstanding returns submittedie. VAT returns, PAYE returns, Income Tax Returns
• All moneys owed to SARS must be up to date.
• Be registered for the tax products that you are liable for.

The taxpayer can view their status before requesting a certificate and identify non-compliance.

A Tax Practitioner can view your status on your behalf and assist to remedy any non-compliance.

A Tax Practitioner can request your Tax Compliance Status online via eFiling.

Benefits of using a tax practitioner.

1. It enables the business owner to focus on his core activities while all administrative burdens are dealt with by qualified professionals.
2. Tax Practitioners have a dedicated Call Center for specific taxpayer related queries.
3. Tax Practitioners have dedicated offices for taxpayer related queries and can book appointments with SARS.
4. They provide advice about the application of a tax Act.
5. Complete or assists with the completion of a tax returns.
6. A tax practitioner belongs to a regulatory body.
7. Has to comply with SARS requirements for qualifications and experience.
8. Participate in continuous professional development programmes to ensure their knowledge stays ups to date.

The Tax Administration Act (2011) has been amended requiring tax practitioners to register with a recognized controlling body, and with SARS.

The list of currently recognized controlling bodies:

• Chartered Institute of Management Accountants (CIMA)
• Chartered Secretaries Southern Africa (CSSA)
• Financial Planning Institute (FPI)
• Institute of Accounting and Commerce (IAC)
• SA Institute of Chartered Accountants (SAICA)
• SA Institute of Professional Accountants (SAIPA)
• SA Institute of Tax Practitioners (SAIT)
• The Association of Chartered Certified Accountants (ACCA)
• Association of Accounting Technicians Southern Africa (AAT(SA))
• Law Society of South Africa
• General Council of the Bar of South Africa, Bar Councils and Societies of Advocates referred to in Section 7 of the Admission of Advocates Act, 1964
• Independent Regulatory Board for Auditors (IRBA)

What are the requirements in order to register as a tax practitioner?

A tax practitioner, must meet the following requirements:

• Belong to or fall under the jurisdiction of a Recognised Controlling Body as referred to in 240A of the Tax Administration Act.
• Have the minimum qualifications and experience set by your Recognised Controlling Body.
• Have no criminal convictions for the offences described in s 240(3) of the Tax Administration Act.
• Participate in continuous professional development programmes set by your Recognised Controlling Body.

Wessels & Associates is a SARS Registered Tax Practitioner.We can submit the following statutory returns via e-filing or other portals on your behalf:

• EMP Payroll returns – PAYE, UIF, SDL, IRP5s
• VAT returns VAT201
• TAX returns – IT12 or IT14 – Individual taxation and Corporate Taxation
• Provisional Tax returns IRP6
• Unemployment Insurance Funds UIF returns
• Compensation Commission returns
• Tax Clearance Certificates
• Tax Compliance Status requests

Accounting Training and workshops on GRAP related to assets

The objectives of an asset management policy are to ensure that assets are managed and accounted for by:

• Compliance with legislation and accounting standards;
• Compliance with accounting policies;
• Physical control over fixed assets;
• Accurate recording of fixed assets and related transactions;
• Providing management information on fixed assets.
• Prescribe Processes and procedures to implement

The goal of asset management is to achieve the required level of service in the most cost-effective manner, which is achieved through management of the asset’s life cycle.

Asset Management Policy’s purpose is to prescribe procedures for the financial and logistical management of assets, and to:

• provide a formal set of financial procedures that can be implemented to ensure that asset policies are achieved;
• ensure that effective controls are communicated to management and staff through clear and comprehensive written documentation;
• ensure that the safeguards and controls the assets;
• optimize asset usage; and
• emphasize a culture of accountability over assets.

Asset Registers

The asset register shall be a complete and accurate database of the assets

and that is regularly updated and validated.

All assets owned and controlled by an entity must be recorded in an asset register.

The asset register should contain following information:

• a brief but meaningful description of each asset
• the date on which the asset was acquired or brought into use
• the location of the asset
• identification number or barcode
• the original cost or the fair value if no costs are available
• accumulated depreciation to date
• the depreciation charge for the current financial year
• the carrying value of the asset
• the method and rate of depreciation
• impairment losses incurred during the financial year
• the date on which the asset is disposed of
• the disposal details
• the date on which the asset is retired from use, if not disposed of.

Assets remain in the asset register for as long as they are in existence or until being written off.

Wessels & Associates is an Audit and accounting practice based in Pretoria, Montana area.

We specialize in the following:

• Fixed Asset Registers
• Quality control and testing of Fixed Asset Registers
• Asset Management Policies
• Assessing useful lives and impairment of assets
• Technical support on GRAP (General Recognized Accounting Practice)
• Training and workshops on GRAP related to assets
• Streamline your internal processes to be more efficient
• Help build your own capacity within your business.
• Audit Support
• Accounting
• Consulting

Accounting is one of the most important functions of a modern business enterprise

Running your own business is daunting.  Whether it’s financial management, financial reporting, Auditing, business analysis and strategy, taxation or anything in-between.

A business owner needs quality, reliable and useful financial support services in accounting, tax, auditing.

Accounting is one of the most important functions of a modern business enterprise. Accounting has become an integral part without which, no commercial activity can be run profitably and successfully.

An experienced accountant has taken front seat in present day business activities.

The CA(SA) is more than just a professional accountant. CAs(SA) participate in rigorous ongoing learning to stay current with trends and developments in the profession.  A Chartered Accountant have the ability to give effective advice on financial planning, growth, optimal resource management or any other business area in-between.

A Chartered Accountant can help you to:

• Improve the quality of your financial information
• Control costs and improve your resource management
• Streamline your internal processes to be more efficient
• Help build your own capacity within your business.
• Help you stay compliant with statutory requirements

When you want to take your business to the next level, you need to partner with a responsible professional who has a holistic business approach and knowledge that enables them to approach things differently.

A CA(SA) has the strategic and analytical background to help you formulate a winning strategy and avoid costly mistakes.

Tax practitioner

As a SARS Registered Tax Practitioner we have a healthy professional relationship between SARS. This is key in providing a service to our clients the taxpayers.

This enables you, the business owner or manager to focus on your core business activities while all administrative burdens are dealt with by a qualified professional.

Only a registered tax practitioner is allowed by SARS to do the following on your behalf.

Income Tax returns

• Individual annual taxes
• Company annual taxes
• Registration of income tax for individuals and companies
• Registration of VAT for Companies
• Tax Clearance Certificates for Goods Standing and Tenders

Payroll returns

• Monthly EMP201 declarations to SARS
• Interim PAYE reconciliations EMP501 – First 6 months of the year
• Annual PAYE Reconciliations EMP501 – Full year
• Annual IRP5 Preparation and submissions

Difference between an Audit and an Independent Review

An audit gives a positive assurance (the highest level of assurance) indicating that the financial statements are a fair representation of the operations and financial condition of the business.

An independent review in contrast gives limited or negative assurance of the fair presentation of the financial statements and their alignment to the appropriate financial reporting standards of the company.

Public Interest Score

For private companies the decision to audit or to do an independent review is determined in part by the Public Interest Score of a company.

Based on the Public Interest Score calculation private businesses scoring 350 points or more must be audited.

Between 100 and 349 points means non-owner companies will be reviewed if their statements are independently compiled, and they will be audited if internally compiled.

Owner managed companies with 100 points or less will be exempt completely from audit or review if they so choose but must still prepare financial statements.

The Companies Act, 2008 (Act No 71 of 2008) together with Regulation 26(2), defines the method for the calculation of a PIS and requires that a PIS is calculated for all companies. As set out in Regulations 26(2), 27-30, 43, 127 and 128 of the Companies Act, the PIS determines:

• Which financial reporting standards apply to a company;
• Whether a company should be audited or independently reviewed in the public interest;
• Whether a company must file a copy of its annual financial statements with the CIPC;
• Whether a company requires a Social and Ethics Committee; and
• The size of the company for purposes of appointing a Business Rescue Practitioner.

Other Accounting Services

Capacity building is the process by which individual and organizations obtain, improve, and retain the skills and knowledge needed to do their jobs competently.

Accountants can assist with:

• Developing and up-skill your staff
• Accounting Standards training
• Design and implement internal controls
• Fixed Assets –  Registers and Asset Management Policies
• Sage Pastel support and training

Wessels & Associates

We provide quality, reliable and useful financial support services in accounting, tax, auditing and consulting to individuals and small to medium size businesses.

Our services are offered either in house or at your premises and include:

• Monthly Company Bookkeeping.
• Management Reports:   Income Statement, Cash flows, Budgets, and more.
• Preparing Annual Financial Statements
• Preparation of Tax Returns, VAT, Payroll, SARS objections and appeal.
• Tax directives and tax clearance certificates.
• Assistance with design of accounting and internal processes.
• Internal audits.

Professional Memberships

• Independent Regulatory Board for Auditors (IRBA)
• South African Institute of Chartered Accountants (SAICA)

Our Fees

We provide initial free consultation to determine your business accounting and financial reporting needs.

Our fees are based on a combination of the required hours and level of skills needed which is driven by the size of your business and an estimated number of transactions.

We will be happy to provide you with a detailed quotation of our package for your business.