Bookkeeping & Accounting Services
Bookkeeping includes recording all of the day-to-day transactions of your business. This is the first stage of financial reporting. Using the actual documents, such as invoices, credit notes, cash slips and bank statements, our dedicated bookkeepers will process these into an accounting system. Thereafter our accountant will review the processed transactions for accuracy and completeness.
Following the review process, the Accountant will address all queries pertaining to the above transactions, make necessary adjusting entries and subsequently compile financial reports which will be sent to you. Meetings will also be arranged to discuss the financial reports.
Dumayo Accounting Services has trained staff in the Companies Act No. 71 of 2008 and all related company law to address all secretarial work. The latter is an important element for every business as it addresses compliance issues, from registering a company to maintaining up to date details of the company with relevant authorities.
Our secretarial services include:
Depending on the industry classification a company can qualify as an EME (Exempt Micro Enterprise) if its annual turnover is less than R 10 million. We can assist with a B-BBEE certificate for Exempt Micro Enterprises only.
Administering payroll is not just about processing weekly/monthly salaries for employees. As an employer, you are also liable for filing statutory returns with SARS and the Department of Labour. Without expert knowledge, it is possible that one or more of these statutory requirements are overlooked or calculations done inaccurately. This will result in penalties from the relevant authorities.
Therefore we are able to administer the payroll function for your business, ensuring that your employees are not only paid on time, but your reporting systems are correct and compliant.
Our payroll service includes the following:
• SARS Registration for PAYE, SDL and UIF
• Recording hires and terminations of employees
• Administration of leave days
• Management of employee benefits
• Calculation of payroll (incl. Overtime, Deductions etc.)
• Generation of payslips
• Submission of payroll (to Client) for facilitation of payment
• Submission of EMP201 and EMP501 returns
• Issuing IRP5 and IT3 certificates
SARS is typically your biggest business partner as a lot of money is paid to them through all forms of taxes. Therefore it is very important to use a great mix of tax saving strategies to lawfully reduce your tax liabilities as much as possible.
At Dumayo Accounting Services we have realized that one of the other biggest contributors to a huge tax liability is non adherence to submission and payment deadlines of tax returns. This results in unnecessary penalties and interest imposed by SARS. Now with our experienced tax practitioners, we’ll ascertained that:
a. We take advantage of applicable tax saving structures.
b. Address all your tax compliance issues before deadlines to protect you from unnecessary penalties and interest.
c. Advise management to budget ahead regarding taxes
d. Keep all accurate records necessary for SARS verifications or audits.
e. Be the first point of contact for all tax matters, including going to the SARS Branches