All Financial Accounting starts with accurate record-keeping. Recording this information in an accounting system is critical for the accuracy of presentation, disclosure and decision-making. Once you find yourself behind in your payments or submissions to SARS it is a frightening reality to deal with for various reasons. One is gripped with a sense of failure […]
Category: Accounting & Finance
Should you receive a communication from SARS stating that an audit will be conducted on your VAT affairs please do not panic. If you follow the pointers below and ensure that your documentation is in order your records should stand-up to any scrutiny from SARS. Tax Invoices (Input VAT) The following information should be reflected […]
A person must keep records, books of account or documents. The retention of records will assist a person to fulfill the requirements of the Tax Administration Act and to satisfy SARS that the person has complied with the requirements.
Cash-flow management is vital for a growing business Get your invoicing right Invoicing is part of good cash flow management. Once you’ve delivered a product or service, don’t wait to invoice. That can hurt your cash flow and your business. You should get into the habit of sending invoices for payment quickly. Consider sending invoices […]