We are firm believers in paying SARS what is due, but nothing more. We make sure to plan your cash flow and pay your VAT and PAYE on time every month. We saved our clients almost R 2.5 million last year by only making sure their VAT and PAYE were paid on time.
When they introduced the ETI (Employment Tax Incentive) that can be claimed, we immediately started to claim this for our clients. The only reason they could benefit from this so quickly was because we ensured that their tax affairs were in order and were always up to date. We have claimed back almost R3 million for our clients through the ETI allowances in the past year
We all need every bit of assistance we can get from the government.
When they introduced the ETI (Employment Tax Incentive) that can be claimed, we immediately started to claim this for our clients. The only reason they could benefit from this so quickly was because we ensured that their tax affairs were in order and were always up to date. We have claimed back almost R3 million for our clients through the ETI allowances in the past year
Over the past years, we have assisted various clients in picking up when their staff was not banking the correct amounts of cash. You can potentially lose lots of money due to cash rolling, and picking this up as soon as possible will benefit you immensely.
We put internal controls in place and, if followed and checked on-site, can and will raise the warning flags when necessary. Because we are independent and not on-site every day, it makes it a little easier for us to ask those “difficult” and “direct” questions around banking and matching the banking to your daily turnover.
We have also observed that when the staff knows that we are checking, it makes them a bit more reluctant to become creative.
In the retail industry, the risk of rolling cash is eminent.
Over the past years, we have assisted various clients in picking up when their staff was not banking the correct amounts of cash. You can potentially lose lots of money due to cash rolling, and picking this up as soon as possible will benefit you immensely.
We put internal controls in place and, if followed and checked on-site, can and will raise the warning flags when necessary. Because we are independent and not on-site every day, it makes it a little easier for us to ask those “difficult” and “direct” questions around banking and matching the banking to your daily turnover.
We have also observed that when the staff knows that we are checking, it makes them a bit more reluctant to become creative.
Nothing is more frustrating than applying for finance and not having your financials ready to submit immediately.
We have assisted clients in catching up with their Annual Financial Statements to bring them up-to-date. One of our clients was behind with their Annual Financial Statements for three years, and we were able to get them up-to-date in 6 months.
We pride ourselves in the fact that our financial statements are drawn up and audited three months after year-end. We also present clients with accurate monthly management accounts that can be submitted to the bank at any time if necessary.
It is crucial to make sure that all invoices are received monthly to enable you to claim as much VAT back as possible.
We took on a new client, and at that stage, they were paying an average amount of R46 117 for VAT monthly. For the past five months, they have been paying an average of R280 per month. The only reason for this is because we make sure we get all invoices from them and claim all the VAT we are allowed to claim according to the law.
Any cash not banked is a risk, and proper controls must be implemented to avoid this.
We have picked up in the past that sometimes the clients lose sight of the small payments made from Petty cash. This leads to opportunists in your company exploiting this fact and can usually end up in someone losing their job for dishonesty. In today’s economic climate, we believe that every little bit helps contribute to a positive bottom line. The responsible party must explain any short bank of the day’s cash and the necessary paperwork must be sent to us to capture and check.