Every successful business is supported by a functional and responsive finance team. It's true that at start-up level, it seems unnecessary to have a team that is there from the very beginning due to cost implications. After 12 years in business, we have seen that this cost is merely deferred to the future when the company is in the red and now there is no choice to pay it. Cash and compliance are the life line of any business and must be established before the company starts trading. But it is not too late to set it up if you haven't yet. The services are offered as a direct service or as a support service. As a support service, we already have that as a service - browse and select Accounting Department Support. A s a direct service we will: 1. Set up the accounting software systems and maintain them on our profile. 2. Document policies and procedures and update them as the business grows. 3. Invoice customers, follow up on payment and send out statements. 4. Track supplier invoices and prepare monthly payment recons (weekly too). 5. Capture bank transactions, staff claims and petty cash on the accounting software. Update cash flow budget where necessary. 6. Create and maintain an asset register. 7. Process payroll and submit payroll compliance returns with Labour and SARS. 8. Where Vat registered, submit vat returns. 9. Submit income tax returns as they fall due three times a year. 10. Compile monthly management accounts (these will consist of the profit and loss, balance sheet, age analysis of customers and supplier, cashflow and loan account tracking), and any other useful reports. 11. Compile financial statements at year end. 12. Monthly meeting to discuss the reports submitted. This fee is applicable for the 18 months of the business, after which the company will fall into a relevant category for its size and requirements.
