Choose professionals when it comes to your company’s books.
Every company and CC (close corporation) is obliged to keep proper financial records of their business activities. This is not just a matter of company law, it is essential in order for the company to submit its annual tax returns.
Although there are plenty of freelance bookkeepers available nowadays, they tend to be attractively cheap. Why you ask? Because they operate from home with no overheads, but most of them are relatively untrained and operate solo. But most importantly to you as business owner – they are without the backup of a qualified accountancy firm. They tend to produce incorrect accounts and this puts you at prejudice when SARS investigates.
We recently prepared financial statements for a client. The tax return was submitted by his freelance bookkeeper. When we checked the return we saw that she had missed the R261 769 rent from the expenses, had not checked the taxable income against the financial statements and had also failed to tick that the company was a Small Business Corporation. The company was assessed for tax of R151 642. We submitted a corrected return and the tax was reduced by R137 253.
We are professional bookkeepers who have been in practice since 1971. Our CEO is a Professional Engineer and Chartered Accountant. He can cast his eye over a set of books (just as the SARS computer does) and immediately spot most of the errors that are typically made by less qualified bookkeepers. (See his blog post on this subject).
Harbour and Associates offers a full bookkeeping service at reasonable rates. We serve clients throughout South Africa.
Because of the high quality of the work there is very little year end accounting necessary prior to the submission of your tax return. Depending on the nature of your business, we can work on a monthly basis, providing you with monthly management accounts or, if there is little activity, we can do the bookkeeping once a year. If you are VAT registered, then the bookkeeping must be done monthly or bi-monthly.
We have been offering expert financial advice and business services since 1971.