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FREQUENTLY ASKED QUESTIONS

Below you will find a selection of the most frequently asked questions.
Simply click on the question to view the answer.


ACCOUNTING & BOOKKEEPING

TAX usually refers to the Income Tax, which is levied on the profits of the company. Usually in the case where a company has a loss, the loss will incur no TAX, but the loss will carry forward to following years to be offset against future profits before TAX is calculated.

Tax comes in the forms of Provisional Tax and Income Tax. VAT is effectively an indirect tax which if the company is registered for VAT, will be charged by the company on it's sales.

VAT is payable on sales, and VAT paid by the company on certain expenses can be claimed against the VAT payable on Sales. VAT is usually payable / refundable to SARS every 2nd month.


Bookkeeping is the continuous process throughout the year of recording the financial transactions of the business in detail. Financials, usually referred to as Annual Financial Statements is the summary of the financial year's transactions into an Income Statement, Balance Sheet, Cashflow and Notes to these reports.

The Annual Financial Statements is usually required to be signed of by an "accredited" Accounting Officer and/or Auditor. The financial statements is what SARS relies on in terms of calculation Income Tax, etc.

Bookkeeping will for example be the main source of financial information on which SARS relies for VAT purposes again. Financial Statements cannot be compiled without the bookkeeping having been done first.


TAXATION

TAX usually refers to the Income Tax, which is levied on the profits of the company. Usually in the case where a company has a loss, the loss will incur no TAX, but the loss will carry forward to following years to be offset against future profits before TAX is calculated.

Tax comes in the forms of Provisional Tax and Income Tax. VAT is effectively an indirect tax which if the company is registered for VAT, will be charged by the company on it's sales.

VAT is payable on sales, and VAT paid by the company on certain expenses can be claimed against the VAT payable on Sales. VAT is usually payable / refundable to SARS every 2nd month.


Bookkeeping is the continuous process throughout the year of recording the financial transactions of the business in detail. Financials, usually referred to as Annual Financial Statements is the summary of the financial year's transactions into an Income Statement, Balance Sheet, Cashflow and Notes to these reports.

The Annual Financial Statements is usually required to be signed of by an "accredited" Accounting Officer and/or Auditor. The financial statements is what SARS relies on in terms of calculation Income Tax, etc.

Bookkeeping will for example be the main source of financial information on which SARS relies for VAT purposes again. Financial Statements cannot be compiled without the bookkeeping having been done first.


PAYROLL & HR

TAX usually refers to the Income Tax, which is levied on the profits of the company. Usually in the case where a company has a loss, the loss will incur no TAX, but the loss will carry forward to following years to be offset against future profits before TAX is calculated.

Tax comes in the forms of Provisional Tax and Income Tax. VAT is effectively an indirect tax which if the company is registered for VAT, will be charged by the company on it's sales.

VAT is payable on sales, and VAT paid by the company on certain expenses can be claimed against the VAT payable on Sales. VAT is usually payable / refundable to SARS every 2nd month.


Bookkeeping is the continuous process throughout the year of recording the financial transactions of the business in detail. Financials, usually referred to as Annual Financial Statements is the summary of the financial year's transactions into an Income Statement, Balance Sheet, Cashflow and Notes to these reports.

The Annual Financial Statements is usually required to be signed of by an "accredited" Accounting Officer and/or Auditor. The financial statements is what SARS relies on in terms of calculation Income Tax, etc.

Bookkeeping will for example be the main source of financial information on which SARS relies for VAT purposes again. Financial Statements cannot be compiled without the bookkeeping having been done first.


FINANCIAL & BUSINESS MANAGEMENT

TAX usually refers to the Income Tax, which is levied on the profits of the company. Usually in the case where a company has a loss, the loss will incur no TAX, but the loss will carry forward to following years to be offset against future profits before TAX is calculated.

Tax comes in the forms of Provisional Tax and Income Tax. VAT is effectively an indirect tax which if the company is registered for VAT, will be charged by the company on it's sales.

VAT is payable on sales, and VAT paid by the company on certain expenses can be claimed against the VAT payable on Sales. VAT is usually payable / refundable to SARS every 2nd month.


Bookkeeping is the continuous process throughout the year of recording the financial transactions of the business in detail. Financials, usually referred to as Annual Financial Statements is the summary of the financial year's transactions into an Income Statement, Balance Sheet, Cashflow and Notes to these reports.

The Annual Financial Statements is usually required to be signed of by an "accredited" Accounting Officer and/or Auditor. The financial statements is what SARS relies on in terms of calculation Income Tax, etc.

Bookkeeping will for example be the main source of financial information on which SARS relies for VAT purposes again. Financial Statements cannot be compiled without the bookkeeping having been done first.


STATUTORY & SECRETARIAL

TAX usually refers to the Income Tax, which is levied on the profits of the company. Usually in the case where a company has a loss, the loss will incur no TAX, but the loss will carry forward to following years to be offset against future profits before TAX is calculated.

Tax comes in the forms of Provisional Tax and Income Tax. VAT is effectively an indirect tax which if the company is registered for VAT, will be charged by the company on it's sales.

VAT is payable on sales, and VAT paid by the company on certain expenses can be claimed against the VAT payable on Sales. VAT is usually payable / refundable to SARS every 2nd month.


Bookkeeping is the continuous process throughout the year of recording the financial transactions of the business in detail. Financials, usually referred to as Annual Financial Statements is the summary of the financial year's transactions into an Income Statement, Balance Sheet, Cashflow and Notes to these reports.

The Annual Financial Statements is usually required to be signed of by an "accredited" Accounting Officer and/or Auditor. The financial statements is what SARS relies on in terms of calculation Income Tax, etc.

Bookkeeping will for example be the main source of financial information on which SARS relies for VAT purposes again. Financial Statements cannot be compiled without the bookkeeping having been done first.


OTHER SUPPORT SERVICES

TAX usually refers to the Income Tax, which is levied on the profits of the company. Usually in the case where a company has a loss, the loss will incur no TAX, but the loss will carry forward to following years to be offset against future profits before TAX is calculated.

Tax comes in the forms of Provisional Tax and Income Tax. VAT is effectively an indirect tax which if the company is registered for VAT, will be charged by the company on it's sales.

VAT is payable on sales, and VAT paid by the company on certain expenses can be claimed against the VAT payable on Sales. VAT is usually payable / refundable to SARS every 2nd month.


Bookkeeping is the continuous process throughout the year of recording the financial transactions of the business in detail. Financials, usually referred to as Annual Financial Statements is the summary of the financial year's transactions into an Income Statement, Balance Sheet, Cashflow and Notes to these reports.

The Annual Financial Statements is usually required to be signed of by an "accredited" Accounting Officer and/or Auditor. The financial statements is what SARS relies on in terms of calculation Income Tax, etc.

Bookkeeping will for example be the main source of financial information on which SARS relies for VAT purposes again. Financial Statements cannot be compiled without the bookkeeping having been done first.


ACCOUNTING & BOOKKEEPING

TAX usually refers to the Income Tax, which is levied on the profits of the company. Usually in the case where a company has a loss, the loss will incur no TAX, but the loss will carry forward to following years to be offset against future profits before TAX is calculated.

Tax comes in the forms of Provisional Tax and Income Tax. VAT is effectively an indirect tax which if the company is registered for VAT, will be charged by the company on it's sales.

VAT is payable on sales, and VAT paid by the company on certain expenses can be claimed against the VAT payable on Sales. VAT is usually payable / refundable to SARS every 2nd month.


Bookkeeping is the continuous process throughout the year of recording the financial transactions of the business in detail. Financials, usually referred to as Annual Financial Statements is the summary of the financial year's transactions into an Income Statement, Balance Sheet, Cashflow and Notes to these reports.

The Annual Financial Statements is usually required to be signed of by an "accredited" Accounting Officer and/or Auditor. The financial statements is what SARS relies on in terms of calculation Income Tax, etc.

Bookkeeping will for example be the main source of financial information on which SARS relies for VAT purposes again. Financial Statements cannot be compiled without the bookkeeping having been done first.

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