Addfin provides fully integrated financials allowing your to focus on growing and strengthening your company.
Most businesses see statutory audits as an unnecessary burden. We aim to ensure our clients appreciate both the operational and financial value of an audit.
In addition to providing the business assurance required of a statutory audit, we identify and report on the strengths and weaknesses of your accounting systems and internal controls.
Auditing Functions Can Include
- Annual statutory audits and reviews, for any type of entity.
- Internal control reviews and consultations. Our services are geared towards the improvement of the general control environment of your business.
- Fixed asset audits and upkeep of fixed asset registers.
- Attorneys and estate agents’ trust audits and reporting.
Investigative and forensic reviews can be sensitive and stressful. We assist you with these types of engagements, to bolster the integrity of your business.
An accurate and comprehensive budget is crucial to operations and the continued profitability of a business. However, the predictive nature of budgets can often make it difficult for small or new companies to incorporate all unseen costs, across-the-board, let alone leave much room to plan and pursue business growth.
Acting as an arm of your financial department, Addfin can analyse your company’s: business data, operations, objectives, goals and corporate structure, and prepare reliable integrated annual/quarterly/monthly budgets that reflect an accurate and realistic view of your company’s finances and future operational costs.
Cash Flow Forecasts
Liquidity is crucial to a business’ survival. Even companies with high asset value can be left vulnerable in the short-term if they have budgeted inaccurately or experience a sudden crisis.
This is why it is essential for SME’s to have an accurate and reliable cash flow forecast. Acting as a financial arm of your company, we prepare fully comprehensive cash flow forecasts that analyse:
- Imbalances in the outflow/inflow of cash
- Debtor payment behaviour
- Liquidity risk
- Cash availability during workforce and supplier payment periods
- Financial stability
Company Tax Planning
Corporate tax represents a substantial cost to any profitable business. This cost occurs not only in terms of the tax contribution itself but also in compliance with reporting obligations, investigations with tax authorities and penalties for non-compliance.
At Addfin, we ensure that we are always current on development in corporate tax policy, employing our proven expertise to minimize your tax payments and remove the administrative expenditure of complying with tax legislation.
Business tax planning functions can include:
- Income and/or corporation tax computations
- Preparing and submitting your partnership tax return
- Preparing and submitting your business’ self-assessment tax return
- Advising on the best path to minimise tax contributions
Calculations errors and failure to prepare your VAT on time, can lead to costly penalties and surcharges. Let Addfin relieve this administrative and financial pressure, by preparing your quarterly VAT return.
Accounting Is The Language Of Business
Are the financial management activities of your company becoming an administrative obstacle, frequently incurring costly errors? Why risk the financial well-being of your enterprise?
We can outsource your complete financial department back office, where we administrate and control this department on your behalf, so your organisation doesn’t have to worry about any changes in the tax, auditing, accounting or company administration legislation
Accurate financial statements are the cornerstone of sound business decisions. Addfin can translate your financial data into fully comprehensive financial reports and statements. Financial statements that are fully compliant with the requirements and standards set out by: SARS, IFRS, IRBA and SAIPA, among other institutions. Financial Statements we prepare can include:
- Balance sheets
- Income statements
- Cash flow statements
- Statement of changes in equity
Full Function Accounting
Hiring a dedicated person for the bookkeeping and accounting functions of your company can often be an unneeded expense, particularly if they’re underutilised. This is often the case for new businesses or companies looking for increased cost flexibility so they can focus on their operational strengths.
Addfin can handle all functions of your organisation’s back-office accounting department, adding value through our expertise and reducing your overall fixed costs.
Accounting Functions We Perform Include:
- Continued accounting packages support
- Monthly management reports
- Financial statements
- Cashflow forecasts
- Daily processing of all accounting transactions
- Monthly bank reconciliations and journal processing
- Fixed asset register management
- Bi-monthly completion and submission of VAT returns
- Monthly completion and submission of PAYE returns
- Preparation of annual financial statements for the holding and subsidiary companies
- Completion and submission of annual tax returns
Monitoring and controlling the financial performance of your business is of paramount importance. Regular management information is vital to the continued success of your business.
Addfin can either carry out this function for you or assist your organisation in setting-up internal structures and IT systems to generate the information.
We also provide an analytical service for this financial data, by interpreting these figures and consulting on you on methods to improve your profits or stimulate growth in your business.
Due to the often complex and time consuming administration related to tax and legislative employment regulations, payroll is one of the most commonly outsourced financial service.
Addfin offers efficient payroll and payslip solutions on a weekly (wages), monthly (salaries and wages) and annual basis. We also offer an employee self-service (ESS) as part of our solution.
Payroll services can include:
- Payslip generation
- 3rd party payment calculations: UIF, PAYE, medical and pension contributions, etc.
- SARS requirements compliance, as well as reconciliations and submissions.
- Issuing of tax certificates
When running an active business, it can often be difficult ensuring compliance with the Companies Act. However this legislation has a significant affects your company and directors.
Our secretarial services are a full solution, carrying out all your organisation’s secretarial duties while remaining aligned with your organisational goals.
Secretarial services can include:
- Company formations and all statutory amendments.
- Preparation and filing of statutory returns.
- Preparation of administrative documentation, such as: minutes and resolutions.
- Preparation of statutory records: Share register, minute book, etc.
- Performing registration procedures: CIPC, South African Revenue Service or Customs and Excise.
- General advice on company law
- Taxation planning, aimed at minimizing your future tax liabilities
- Preparation capital gains tax computations and inheritance tax computations.