BG354 Complete Taxco Accounting Solution
Taxco Business Guide
The objective of this business guide is to define the unique bookkeeping, accounting, financial statement and document solution that Taxco offers it’s clients and to summarise the important benefits thereof in your business.
Taxco has the complete accounting solution for you where you have the knowledge that your records will be maintained accurately, and timeously, reports and financial statements conform to international reporting standards and your documents are stored in electronic format in accordance with SARS regulations.
Most business people have ample expertise in their industry areas, however, accounting and administrative matters may elude them. Falling behind in accounting is a common problem for smaller businesses, who are caught up in the daily priorities of running a business.
More companies are acknowledging the importance of accounting in there businesses and now outsource these functions while being more focused on their core business in order to strengthen their proficiency and growth.
How the Taxco Complete Accounting Solution Works
You do not have to visit our offices.
You send all the information via post, fax, email and/or upload documents via our online secure website and we keep your files on the web in your unique Tax Box account. All your documents are immediately available at your finger tips, anywhere in the world.
You could be anywhere in South Africa and be able to make use our services.
We combine our accounting and imaging solutions with the latest accounting technology to provide our clients with a service that is fully compliant, cost effective and one that makes complete business sense.
• We process your information with a suitable accounting package
• We compile the requested statements or reports
• We scan your documents, statements and reports in PDF format
• We can OCR (optical character recognition) your documents (e.g. Invoices) to make them searchable, if you require.
• We upload your documents into your Tax Box document account.
• You access your Tax Box document account with your unique Login.
• You upload any other documents you wish to add i.e. Identity documents etc.
• You browse your documents anywhere in the world on the internet.
• You download, print or email any of your documents as you require.
So, if you are a business owner looking to reduce your operating costs, improve company focus and increase flexibility to respond to business requirements, our unique Taxco Accounting Solution Service is just meant for you!
Processing of Financial Information
Our trained accounting staff process and maintain all your financial information on a suitable computerised accounting package on a monthly basis or for any other required period to produce a complete general ledger, including fixed asset, debtors and creditors ledgers, as required, with a final trial balance indicating turnover, all expenses, profit or loss and all assets and liabilities up to the compilation of your annual financial statements.
Batch listings, detailing each entry – (date, account allocation, description, vat, transaction amount), are used for billing purposes, so you only pay for your records actually processed and not for the time spent thereon.
Compilation of Financial Statements
We compile Financial Statements in terms of International Financial Reporting Standards (IFRS) designed for use by small and medium-sized entities (SMEs).
We compile Financial Statements from a trial balance supplied by you and a copy of your previous year’s financial statements, where available. Depending on the business nature of the entity and/or other applicable legal requirements, if any, we may request supporting documents, representation or other information from you where we deem necessary to ensure that the financial statements are in agreement with the accounting records of the entity or as requested..
How well the records were kept will generally influence how easily the statements can be produced or the quality thereof.
Financial statements for companies and close corporations must be prepared for in terms of legislation and there are strict legal requirements as to their format.
For accurate management accounting often a single set of figures per annum will not prove to be sufficient. In these instances we encourage and recommend that clients consider periodical or even monthly management reports. This will bring you more up to date with your financial affairs.
A professional will review your financial information and provide relevant reports to help you run your business which include:
• Budgeting and spending
• Income and expenditure
• Accountability and precision
• Tax implications
This information may be provided by our Complete Accounting Service or from records you maintain yourself. These records can be returned to you, filed or kept electronically as you may prefer.
Our range of other Accounting Services to choose from include:
- Account reconciliations
- Accounting assistance in the Public Sector
- Applications for Decentralization Incentives
- Audit and tax schedules
- Bank reconciliations
- Cash flow monitoring
- Cashbook processing and monthly reconciliations
- Compilation of financial statements
- Completion of statutory returns
- Debt restructuring
- Design and maintenance of accounting systems
- Duties as accounting officers
- Electronic transmission of information
- Finance applications
- Financial analysis
- Fixed asset management
- General ledger accounting
- Graphical analysis of information
- Hire purchase agreement management.
- Interpretation, evaluation of and reporting on financial statements
- Joint venture accounting
- Management advice
- Management information
- Mergers, acquisitions and disposals of businesses
- Month-end/Year-end closing
- Monthly management accounts
- Monthly, two-monthly or annual processing of accounting records
- Negotiation assistance
- PAYE, UIF, SDL and other statutory returns
- Payroll administration – Emailing payslips and reports
- Preparation of financial forecasts and projection plan
- Processing of sales invoices, credit notes, issuing statements
- Processing of supplier's invoices, goods return vouchers and monthly reconciliation of supplier’s accounts
- Profitability measurement
- Salary package structuring
- Tax compliance and planning
- VAT Returns and VAT Audits
Client Service Approach
The Taxco client service approach places responsibility for the delivery of our services on at least two people for each client, so that there is always someone available, who knows your business, to provide immediate advice and assistance
Our approach not only maximises the degree of personal involvement of this team in the client relationship, but also imposes on them the unambiguous responsibility for delivering the best value for money. We ensure our services are supplied on time, as you require them and within the agreed fee.
We work together to produce accurate financial records and management reports, financial statements and tax submissions within a short period of time.
We are passionate about ensuring that your accounting requirements are handled
professionally and stay up to standard. We are flexible in our accounting solutions and can be contracted in on a project basis to clean up your accounts (project accountant), short-term arrangement or a fixed monthly billing, agreed in advance.
Value Added Benefits
The added benefits and value to you and your business when using our Accounting Services include:
• Cost savings on technology and staff.
• No leave or other costly staff expenses
• Dedicated Taxco support
• No training expenses
• Meet regulatory deadlines
• No accounting hardware and software updates and upgrades
• Ease of mind on the quality of the information.
• Easy web access to your financial system and documents.
• Increased mobility.
• Improved speed and service
• More time to focus and grow your core business.
• Quick delivery times.
• Your financial statements and management reports are at your finger tips.
• Keep track of your books anytime you want
• More focus on core business activities
• Maximum tax efficiency
How can Taxco help?
One of our professionals would be pleased to contact you to explain our services in more detail and how we can tailor the right solution for you.
You remain in control of your business and choose which services you require. Let us know how we can be of assistance by clicking on the button below to send us an email with your request. Contact Us.
This Guide is subject to the Terms and Conditions of Use of Taxco Services and their Website.