We understand the multi-disciplinary and demanding time challenges faced by you, the SME business owner, which is why we specialise in supporting businesses across South Africa with accounting services tailored to your needs. We work with Sage Accounting, state-of-the-art Cloud Accounting software, which allows us to capture your business financial transactions in a timeous fashion and it allows you access to your financial data when you need it.
At Digi 20 Business Services we believe that your accountant and bookkeeper should be able to understand the impact and the challenges the that all departments in your business face. Our account managers are trained professionals in accounting, HR and Marketing.
Services
Monthly Accounting and Bookkeeping Services
We know that running your business is a full-time exercise and that you don’t always have the time for your monthly accounting. We take of that for you, so that you can optimise your business growth.
We prepare your monthly accounts from various source documents such as customer invoices, supplier invoices and bank statements and provide you with a set of monthly management accounts. Your information is captured in Sage One. Your accounting is done online and your personal log in ensure that you always have access to your data. We will furnish you with a full set of management accounts on a monthly bases.
We believe that every client is different and therefore their needs are different and that’s why we tailor make a solution for each of our clients.
Contact us for a tailor-made solution for your business.
Accounting
Our outsourced accounting services are designed to support the full spectrum of monthly financial, tax, payroll and associated compliance needs of the small business owner. We operate on a fixed monthly cost basis, ensuring you have the financial information needed to make grounded decisions in your business.
Bookkeeping for success
While an accountant’s primary focus is to prepare statutory returns, advise on entity structures and provide sound financial advice, a bookkeepers day looks slightly different. Bookkeepers grow your business by maintaining the accuracy of your business’s operations by organising, recording, and reporting day-to-day financial data.
As a business owner, you will be familiar with handling a variety of tasks to keep processes running smoothly – let’s not make financial tracking one of them. Digi 20 Business Services offers professional bookkeeping services and personalised assistance that is reliable and cost-effective.
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Annual Financial Statements
Once a year and/or at the clients request we compile a set of Annual Financial Statements, which is a report created annually that quantifiably describes the financial viability of any company. This includes a statement of income, statement of changes in net worth and a balance sheet. It also often includes a cash flow statement.
The Annual Financial Statements are prepared by our professional team of accountants and where determined by the public interest score (PIS) we retain the services of registered Auditors, that are registered members of South African Institute of Professional Accountants (SAIPA) as prescribed in the Companies Act.
Annual Financial Statements is a legal requirement and must comply with prescribed standards. Financial statements are also a tool that the business owner can use to measure business performance. As a business owner you want to know if your business is making a profit and is solvent. All major banks and independent lenders would require Annual Financial Statements when they consider funding in the form of either an overdraft or a business loan which can be used to either expand your business or as short-term working capital.
WE ARE SARS REGISTERED PRACTIONERS
Our standard accounting packages include taxation services to address submission requirements as well as client services that remind you of upcoming taxation deadlines. We also offer SARS registration services for all forms of taxation, including income tax and VAT.
To see our accounting Income tax in South Africa is payable to SARS, the amounts due depend on tax residency status and the amount earned by yourself or your company. In January 2001, the South African income tax regime was changed to a residence-based system, from the previously source-based system. Irrespective of source of income, taxpayers residing in South Africa are taxed on worldwide income.
We can assist both corporates and individuals to meet their annual tax requirements. Meeting your tax deadlines and filing your returns in time, before the yearly deadline, can prevent you from having to pay harsh penalties.
Our accounting services include the following:
QUALIFIED PROFESSIONAL ACCOUNTANT (SA) ASSIGNED TO YOU AS YOUR DEDICATED ACCOUNT MANAGER
SUBSCRIPTIONS TO CLOUD BASED SOFTWARE
Sage Accounting Software – all financial documents in one place, automatically
PROCESSING & RECONCILIATION
Monthly directly from supplier and customer invoices and other source documents.
ANNUAL FINANCIAL STATEMENTS
TAX SERVICES
All tax submissions & tax reminders (Income Tax, Provisional Tax, VAT, Withholding Tax)
PAYROLL SERVICES
Monthly payroll processing with all submissions to SARS, Department of Labour and the Compensation Commissioner
REPORTING MONTHLY
STANDARD MONTHLY REPORTING PACK
Executive summary
Cash summary
Profit & Loss
Balance Sheet
Aged Receivables
Aged Payables
BUSINESS SUPPORT
Support function for all your accounting, tax and business queries and requirements
Company Registration
Since 1 May 2011, the Companies and Intellectual Property Registration Office (CIPRO) ceased to exist and was replaced by the Companies and Intellectual Property Commission (CIPC). The New Companies Act came into being at the same time, changing the way business owners register their companies.
The Act stipulates that no new close corporations (CC) can be registered, but those registered prior to 1 May can continue to operate as CCs.
The Companies Act provides for two categories of companies, namely non-profit and profit companies. Each of the different business entities under these categories has specific requirements in terms of the documentation that is required.
- Non-profit companies: A company incorporated for public benefit or another object relating to one or more cultural or social activities, or communal or group interests. The income and property are not distributable to its incorporators, members, directors, officers or persons related to any of them.
- Profit companies: Profit companies are categorised as companies without restrictions on the transferability of their shares and that do not prohibit offers to the public (larger public companies), and companies that do contain restrictions on the transferability of their shares and that prohibit offers to the public (smaller private companies). They may take one of four different forms: a personal liability company, a state-owned company, a public company and a private company.
- Personal liability companies: The directors and past directors are jointly liable with the company for any debts and liabilities arising during their periods in office. The company name ends with the word ‘incorporated’.
- State-owned companies: This is a company defined as a ‘state-owned enterprise’ or a company owned by a municipality. The names of a state-owned company must end with the expression ‘SOE Ltd’
- Public companies: The definition of a public company is largely unchanged. The only difference is that a public company now only requires one member for incorporation compared to seven members in the past.
Private companies: While comparable to private companies under the old Act, these are similar to previous close corporations. Some of the changes made to private companies include fewer disclosure and transparency requirements, no longer being limited to 50 shareholders, and a board that must comprise at least one director. The name of a private company must end with the expression ‘Proprietary Limited’ or ‘(Pty) Ltd’. Should you require assistance with registering a new company, we can assist you with this.
Other Services
SARS Registration Services
- VAT Registration
- Import/Export Customs Registration
- Tax Registration Confirmation
- Tax Clearance Certificates
- UIF/SDL/PAYE Registration
- Individual Income Tax Registration
- PBO (Tax Exemption)
- VAT de-registration (excluding returns)
- UIF/PAYE de-registration
- Public Officer Appointment
- Body Corporate Income Tax Registration
Other Registrations
- UIF (DOL) registration
- UIF (DOL) de-registration
- Letter of good standing/ROE
- Workmans Compensation/COIDA (10 days)
- Annual Returns (CIPC) excludes CIPC penalty fees