We offer a full range
of accounting &
We offer monthly accounting and bookkeeping services, accounting records,
books to balance sheet, cash management etc.
Smit & Sons Finance Accountants is a successful accounting and tax preparation service in Cape Town, South Africa owned and run by Sandra Smit. The firm offers Management accounting, Tax accounting, Pastel Books set-up and training for small business clients and sole proprietors. Smit and Sons can offer clients Bookkeeping and Accounting services with the oversight of a CPA at a price they can afford. This will allow business owners to not only save money over in-house accounting and ensure their compliance with tax laws, but to make valuable and sound management decisions.
This service includes the following:
Monthly Bookkeeping (Pty) Ltd
Individuals, Close corporations, Companies, Trusts and Sole Proprietors
Capturing of source documents – Suppliers Invoices, Debit Notes, Customers Invoices, Credit Notes, Stock, Inventory and Bank Statement Reconciliations, Loan Accounts and all General Ledger Accounts
Books to Balance Sheet
Trail Balance included
Cash Management - Cash Flow - Budgets
We can set up an simple, manageable cash flow spreadsheet, which you can use to make daily and monthly “cash in” and “cash out” decisions. This will help you control spending and always keep your bank manager happy.
Setting up of filing systems for your business
We can give you advice on how to maintain an easy filing system to ensure a stress free audit and accessibility for years to come.
Drafting and Preparation of Reports on Internal Controls
Debtors and Creditors Age Analysis, Inventory Valuation, Income Statements etc
Assist in Budgeting
Yearly and Quarterly Projections thereof
Fixed Asset Register
Keep record of old and new assets, Do depreciation of Assets
Drafting and Preparation of Management Reports, Interim and annual Financial Statements
Ensuring accurate financial reports you can use to make sound financial decisions
Services as an Accounting Officer in respect of Close Corporation Act, No.69 of 1984
We register ourselves as your accounting officer and ensure all queries from different institutions are dealt with on a professional manner.
Appointment of a Public Officer
An Public Officer will be appointed to help you deal with queries.
Individuals and E-Filing
Individuals that earns over R60 000 per year needs to register with SARS and their TAX filings needs to be done timorously. With the extreme penalties and Interests SARS have enforces, no person can afford to not make due on the “friendly requests” to file their taxes. We make this an easy process and will make sure your Taxes a filed correctly and on time.
Filing your turnover on a yearly basis with CIPC
CIPC has a yearly annual turnover filing that is vital to be done. If left unattended, your CC or PTY can be de-registered. This can have catastrophic consequences. We make sure your Annual Turnover figures are filed on time. If your company are in a process of de-registration, please contact us immediately so we can stop the process. If you do not know if your business is “safe” and if the annual filings was done, we can get the info for you and get you piece of mind.
Bookkeeping & Tips
Business owners have the option to subcontract their complete bookkeeping function to us, or to let us handle only certain areas of their books or to let us fine-tune the accounts/financial information they produce themselves. We do all data capturing, in your office or ours. We can help you set up a filing system – making an audit a walk in the park. Data Capturing of, Suppliers and Customers, Sending Statements, Stock List Control etc.
Accurate record keeping and bookkeeping is the groundwork for accounting and proper reporting. The better you keep your books, the more consequential and relevant the information and reports you will receive.
This service includes the following:
Capturing of cashbooks and doing the bank reconciliations
- Capturing of cashbooks and doing the bank reconciliations
- Capturing of invoices
- Reconciling debtor accounts
- Producing debtor age analysis
- Preparing monthly statements
- We strongly suggest procedures that will decrease the risk of non paying clients
- Capture of supplier invoices
- Reconcile your supplier ledger to supplier statements
- Producing remittance advices.
- We strongly suggest procedures that will reduce the risk of overpaying suppliers
- Setting up the general ledger accounts for meaningful and relevant information
- We uphold your general ledger accounts and reconcile all accounts
- Weekly Wage Payslips
- Monthly Salary payslips
- Monthly EMP201 returns
- Generate the IRP5’s and do the 2 half yearly IRP5 reconciliations
- Do all your VAT returns and reconcile the Vat control account
- We will also inform you if your supplier invoices do not comply with the Vat Act and handle any audits from SARS
- We specialise in providing accounting services, tax returns, payroll, bookkeeping, tax planning and tax advice, to all businesses including Sole Traders, Partnerships, Close Corporations and Individual Taxpayers
- We offer the best at affordable rates. We provide excellent service to all our clients in ensuring every effort is made to get the job done correctly and timeously
The tax situation is shifting all the time. To keep up with all these changes can be time consuming and costly.
SARS are setting there focal point on auditing and not administrative work. Did you notice that the capturing of VAT, TAX, PAYE, UIF, Income TAX and other return are now the responsibility of the business owner/employees? The SARS E-filing system was created for the TAX Payer. The possibility that your business will be audited in the near future by SARS is much higher than in the past. Getting the necessary TAX advice is very important.
Certain areas in your financial statements are immediately attracting the awareness of SARS. These are identifiable and we can help you to recognize the problem areas and make sure you comply to the law so that you can correct these areas. You necessitate to make sure that your business will survive a tax audit. We can assist you in this by steering you in the right direction or by handling your tax affairs all together.
This service includes the following:
Who needs to Register for VAT
Personal Tax Returns
We help you sort out your personal tax issues. Show you how to set up a simple spreadsheet to make filing your TAX easy. Need a TAX Directive, we do it for you. Yearly TAX Filing on E-Filing
Company Tax Returns
Need a TAX clearance certificate? Don’t let TAX become a nightmare, we can help you get your personal or company tax under controll
Trust Tax Returns
Provisional Tax Returns
Company, Trust and Individuals
Do your workers pay towards this fund? Not registered yet? We can do it for you!
Your business is growing and you need to register for VAT. To become a VAT vendor you have to qualify. We know how to help you and we deal with the frustrations. VAT is payable every second month
PAYE & SDL Returns
PAYE needs to be filed twice yearly as from 2010. Need someone to reconcile and file it for you, we have the knowledge. Remember PAYE needs to be paid on the 7th of each month. SDL (Skills development levies) – Help your business grow and develop your staff. You can claim back from this fund to help pay for training.
Workman Compensation Returns
Your Idea is great and you want to start ASAP. But, before you do, make sure that you know the advantages and disadvantages of the different structures whether as a sole proprietor, partnership, close corporation, trust or private company. Make sure you know how income tax laws will affect each business structure. Tax rates vary for the different structures and special tax allowance and rates are available to certain business structures.
Registrations of Business
- Registration of new Businesses
- Registration for Provisional Tax (as tax payer with SARS)
- Registration for Vat
- Registration for PAYE/SDL/UIF
- Registration for Workman compensation
- Appointing a Public Officer
- Members Certificates
- Any other Registration/Deregistration on request
Starting your Business
All Statutory Registrations
New Business Service
Your success is very important to us. We do not want to loose clients therefore we give you the very best and will help you succeed. We want you to be accounting smart and grow a strong business.
SARS are shifting their focus and expect more work from the employer. The reconciliation process of the IRP5’s is proof of this. You, as the company, have the accountability to ensure that the information on the IRP5 is correct. More and more businesses are outsourcing their payroll functions.
Payroll Outsource Functions
- Processing of Monthly and Weekly payroll
- Calculating allowances, deductions and other company contributions
- Producing and printing of payslips
- Processing and printing of all monthly & variance reports
- Generating and Printing IRP5’s and IT3 (a) certificates. (Twice yearly)
Benefits of Oursourcing your Payroll
- Remove time consuming payroll data capturing
- Take the stress of IRP5’s out of your hands
- Full compliance to current tax legislation
- Minimize fraud risks
- Professionalism and efficiency will minimize payroll queries
- Prevent SARS late penalties
- Solutions for all companies
- Guaranteed confidentiality