Accounting Services

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Accounting Services

It is of paramount importance for small and medium-sized businesses to know and understand the importance of proper record keeping and financial statement interpretations.

In so many instances business owners do not assess the performance and growth of their businesses and unfortunately, this has led to unexpected business failures and closures in South Africa.

Monitoring business performance through record keeping is vital, hence the need for a qualified professional accountant. By law, taxpayers (Companies and Individuals) are required to keep certain tax records for 5 years.

Businesses are also required to prepare Annual Financial Statements according to reporting standards i.e. International Financial Reporting Standards (IFRS) or International Financial Reporting Standards for Small to Medium-sized entities (IFRS for SMEs).

Our Accounting Services include:

Finnovate Consulting understands accounting needs of businesses and is ready to partner with you in delivering the following business solutions among others:

  • Proper bookkeeping/recordkeeping using appropriate accounting system
  • Preparation and review of monthly management accounts for management decision making
  • Budgets or focus preparations and review of budgets against actual performance
  • Preparations and presentation of Annual Financial Statements
  • SARS submissions – VAT, Provisional Tax and Income Tax
  • Monthly and yearly reconciliations
  • Processing, updating and general maintenance of a fixed asset register.

Finnovate Consulting also provides dedicated accountants and/or bookkeepers to assist clients in the preparation of their financial statements in accordance with the client’s needs.