AMS Craven Chartered Accountants offer a suite of tailored services to meet your unique requirements. Our fee structure is transparent and based on the time invested by our experienced staff, ensuring the highest standard and quality of work. We specialize in supporting small to medium-sized entities, recognizing their distinct needs and challenges.
New Business Getting started
Accounting is an instrumental part of running a small business. Implementing systems and best practices for keeping track of expenditures and revenues is key to managing cash flow. Without these systems in place, it’s all too easy to lose track of funds or create the financial records necessary to file taxes and apply for small business financing, if necessary.
AMS Craven Chartered Accountants can get you setup on an Accounting program where you can have access to all your accounting information updated on a daily basis
Monthly Accounting and Management Reports:
Effective financial management hinges on timely and insightful reporting, enabling informed decision-making by management.
Our comprehensive monthly management report service includes:
- Provision of detailed monthly management statements.
- Expert handling of monthly record processing.
- Timely submission of SARS returns via e-filing.
- Precise issuance of payslips.
- Monthly accounting and record-keeping.
- VAT calculation and submission to SARS.
We meticulously handle all your monthly transaction processing tasks, including:
- Management of debtors’ invoices, credit notes, and receipts.
- Administration of creditors’ invoices, debit notes, and payments.
- Thorough bank reconciliation.
- Maintenance and updating of your fixed asset register, along with depreciation journals.
- Reconciliation and upkeep of the general ledger.
- Accurate processing of general journals.
- Execution of month-end tasks and period roll-overs.
We are proficient in Xero, QuickBooks, and Pastel programs, ensuring seamless integration and optimization of your financial systems.
We’re dedicated to streamlining your financial processes and providing you with the insights needed to drive your business forward.
Payroll Services:
Managing payroll entails precise calculation, deduction, and timely payment of PAYE and other statutory obligations from employees’ salaries. Compliance with legislative requirements is essential to mitigate adverse impacts on cash flows at the tax year’s end. To assist organizations in meeting these objectives, we offer a comprehensive range of services:
- Maintenance of payroll master information.
- Accurate calculation of statutory deductions.
- Preparation of monthly/ weekly and forth-nightly payroll slips.
- Monthly Statutory Payments and Returns:
- PAYE (Pay As You Earn)
- SDL (Skills Development Levy)
- UIF (Unemployment Insurance Fund)
- Submission of EMP201 monthly returns to SARS.
- Handling of bi-annual/ annual IRP501 returns to SARS.
- Management of WCA annual declarations.
- Expertise in Pastel Payroll software.
With our meticulous attention to detail and compliance expertise, we ensure smooth payroll operations while minimizing risks and maximizing efficiency for your organization
Annual Financial Statements:
Annual Financial Statements serve as a vital tool for companies, sole owners, and body corporates to communicate their financial health and performance to stakeholders, including investors, creditors, and regulatory authorities. These statements provide a comprehensive overview of the entity’s financial position, performance, cash flows, and changes in equity over a specific accounting period, typically one fiscal year.
For companies, and body corporates annual financial statements are not only a legal requirement but also a means to demonstrate transparency and accountability to shareholders and potential investors. They include key financial documents such as the income statement, balance sheet, cash flow statement, and notes to the financial statements, offering insights into revenue generation, expenses, assets, liabilities, and equity.
Similarly, for sole owners, annual financial statements are crucial for assessing profitability, managing cash flows, and making informed decisions about future investments and operations. These statements help sole proprietors understand their business’s financial performance, identify areas for improvement, and comply with tax obligations.
Overall, annual financial statements play a vital role in providing stakeholders with a clear understanding of the entity’s financial health, ensuring transparency, facilitating decision-making, and fostering trust and confidence in the business’s operations.
Please note
Per the South African Companies Act, all companies are required to produce Annual Financial Statements (AFS) each year within 6 months after the end of their financial year.