Regular Accounts Regular Accounts
Thursday, September 21, 2017

Financial Accounts

The importance of Accounting Records

All businesses are legally required to maintain accurate books and records. Bookkeeping requires skill and practical experience ,in order to ensure that  financial controls are maintained and monitored ensuring the  financial information is accurate.

1.   Service Options

Clients have the following options

1.1.              Clients can process their own data.

1.2.              TFAGLOBAL will process all transactions on behalf of the client.

1.3.              The client can utilise our internet based system to process their data without the need to purchase Pastel software.

 

Reports

Standard reports are:

 1.4.              Income Statement which reflects the trading results of the entity.

1.5.              Balance Sheet showing the financial status of the business used in securing business finance.

1.6.              Cash flow statement used in measuring and monitoring cash utilisation.

1.7.              Debtors aged analysis managing of monies owed by customers in order to minimise bad debts.

1.8.              Creditors aged analysis – managing monies owed by the business to suppliers.

1.9.              Stock Holding Statement management of product quantities and values to avoid over investment in stocks.

 

Fixed Asset Register Processing

TFGLOBAL provides a service whereby all fixed asset transactions are recorded and controlled as required by SARS and Companies Act. We produce reports which allow the client to monitor fixed assets by location.

 

Annual Financial Statements

Legislation

In terms of current legislation businesses are required to produce an Annual Income Statement and Balance Sheet with the prescribed explanatory notes. In certain situations companies can opt for an Independent Review instead of an audit, thereby reducing the cost of audit fees.

Services

TFAGLOBAL partners are members of recognised professional bodies which permit them

·         To act as Accounting Officers and

·         To undertake Independent Reviews.

 What do you get?

 ·         Independent analysis of your business

·         Compilation of Income Statement, Balance Sheet and Cash Flow with appropriate explanatory notes.

What can you do with this information?

Submit it to

·         Bankers

·         SARS

 TFGLOBAL can have can assist and guide you in making these presentations.

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