Frequently asked questions
The questions clients ask before the first meeting. If yours is not here, ask us.
What are your prices for payroll services?
We ask R75 per payslip per month, and it includes your monthly UI19 submission to the Department of Labour and your EMP201 payroll tax submission to SARS. It excludes your twice-yearly EMP501 reconciliation, which is billed separately.
What accounting software do you use?
Xero and QuickBooks Online. Simplepay for payroll.
How can I save on my personal income tax?
It depends on the source of the income reflected on your IRP5 — some types of income have specific deductions you can claim against. For a normal salary earner it helps to have a retirement annuity fund as well as medical aid; this will reduce your tax payable.
On what vehicles can you claim VAT?
Only on single-cab and cab-and-a-half bakkies, passenger vehicles transporting more than 16 people, and trucks and heavy machinery vehicles.
Can I claim VAT on meals and entertainment?
No. Meals and entertainment are deductible for income tax, but not for VAT purposes.
Does a company need financial statements?
This depends. Usually a company under R1 000 000 turnover a year does not need formal financial statements — SARS accepts a profit and loss and balance sheet from your accounting system. But if the company has a loan with a bank, the bank usually requires financial statements. They are also a great way to analyse the data that was entered into your accounting system.
What is included in your fee to register a company?
- Company registered at CIPC
- Share certificates
- Letter confirming shareholding
- BBEE certificate
What does your part-time Chief Financial Officer package include?
You get one of the founders at your office two or three times a week.
- Assistance with pricing models
- Financial forecasting and modelling, to see the trajectory of your company
- Creating of payment schedules
- Consulting on project forecasting
- Consulting on legal issues
Nothing here answers that one.
Ask us directly and we will come back to you within one working day.
Ask your question
