Accounting, Auditing and Payroll in South Africa
South Africa Business Experts
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Total Posts: 4 Last post by Velvoke
Hi My husband and I have franchised our travel business. How easy or difficult would it be to sell our UK franchise to South Africans? Is it very complicated in relation to the authorities? We will continue to live in the UK but are prepared to travel to South Africa whenever required. We are also hoping to communicate via the internet to keep in touc
Total Posts: 8 Last post by hermes birkin
Accounting in South Africa
It is recommended, and probably in your best interest, to employ an accountant. They'll nearly always save money, and more importantly, will make your business the most financially efficient it can be. Used wisely, accountants in South Africa can make you more profitable than ever.
Accountants in South Africa provide a range of services. They can look after everything financial, from fundamental book-keeping to more expert advice. You could hire accountants in South Africa simply to prepare financial statements for your tax return, or you may require them for other added-value services such as auditing. Accounts must be audited each year, unless the company or region you are based in is exempt.
All accounts must be published in English.
It is essential to choose an appropriate accountant for your circumstances. If you just want an accountant to take care of your book-keeping, then a small firm will probably suffice. However, if you require astute financial and planning advice, a larger, more reputable company might be needed. Check they're chartered / registered with a recognised accounting body. It is important to lay out exactly what you want them to do for you and what the charges will be.
Keeping a sound financial record is essential. Apply yourself. Have a good system in place and then the time that you do spend on accounts won't be so burdensome. Ensure you retain receipts for everything you buy. It is recommended that you keep a ledger or book with the details of what the receipt is for. Keep a record of all sent and received invoices too. These will keep you informed that you've been paid or have money owing, etc.
Ultimately, applied and diligent record-keeping will keep your accountancy costs low.
Organisations that can assist with Accounting, Auditing and Payroll
Do you need an accountant or tax advice in this country? Helping foreign companies with local tax regulations.
Assisting companies with international employees, from one employee upwards
InterGest specialises in the foundation and administration of foreign subsidiaries for internationally operating companies.