admin_credo, Author at Credo Fidei Accounting Services

7 Tips for keeping your accounting records organized

By admin_credo | September 26, 2018September 26, 2018 by admin_credo

Accounting is and always will be a critical part of your business, but it doesn’t have to be a nightmare. Like all things in your business, it just takes a bit of planning and you can have accurate bookkeeping. Efficient management of your business accounting can help establish success. 1. Keep your personal and business finances separate Small business owners often struggle to keep their personal and business finances separate especially if they are just…

Accounting Tips & Info

15 TAX TIPS FOR INDIVIDUALS

By admin_credo | June 27, 2018 by admin_credo

15 TAX TIPS FOR INDIVIDUALS I recently heard a very true statement – “There are only 2 certainties in life. Death and paying taxes. You can’t do anything about death, but you can certainly plan your taxes.” If you are using a registered tax practitioner be sure to enquire whether they are registered with a controlling body such as the South African Institute of Chartered Accountants or the South African Institute of Taxpayers. The 2018…

Accounting Tips & Info

Tax Notice

By admin_credo | June 12, 2018 by admin_credo

Taxpayers, please note that the tax deadline for individual taxpayers who are not registered for the provisional tax is now 31 OCTOBER 2018. Ensure your tax is submitted on time to avoid penalties and interest. Need help with your 2018 tax return? Contact Credo Fidei Accounting Services at 061 353 4166 or 013 244 2003 or send an e-mail to shene@credofidei.co.za

Accounting Tips & Info Uncategorized

DO YOU KNOW YOUR TAX DEADLINES?

By admin_credo | April 26, 2018April 26, 2018 by admin_credo

Filing your taxes on time is extremely important if you want to avoid interest and penalties which could cost you a lot of money. Below are the important deadlines you should know about. Individuals The tax season for individuals runs from July to November if you are a non-provisional taxpayer. Provisional taxpayers have until the end of January to file their tax returns. Filing (IRP6) and payment by individuals of provisional tax is as follows:…

Accounting Tips & Info

THE IMPORTANCE OF FREQUENT BANK RECONCILIATIONS

By admin_credo | April 13, 2018 by admin_credo

THE IMPORTANCE OF FREQUENT BANK RECONCILIATIONS A bank reconciliation is a process of comparing your entity’s accounting records to the bank statements. The goal of this process is to determine if there are any discrepancies between your accounting records and your bank records and to resolve any differences sooner rather than later. This is important seeing as it can help you identify problems before they get out of hand. Even a 1c difference should…

Accounting Tips & Info

ANNUAL RETURNS WITH CIPC

By admin_credo | March 26, 2018 by admin_credo

ANNUAL RETURNS WITH CIPC All companies (including external companies) and close corporations are required by law to file their annual returns with the Companies and Intellectual Property Commission (CIPC) on an annual basis, within a prescribed time period. The purpose of the lodging of such annual returns is to confirm whether a registered business is still in business/trading, or if it will be in business in the near future. Therefore, if annual returns are…

Accounting Tips & Info

What is the Public Interest Score (PIS)? And do you know what your business’ Public Interest Score is?

By admin_credo | March 13, 2018 by admin_credo

Public Interest Score (PIS) What is the Public Interest Score (PIS)? The Companies Act, 2008 (Act No 71 of 2008) (Companies Act), together with Regulation 26(2), defines the method for the calculation of a PIS and requires that a PIS is calculated for all companies. As set out in Regulations 26(2), 27-30, 43, 127 and 128 of the Companies Act, the PIS determines: Which financial reporting standards apply to a company; Whether a company should…