18/01/2024
Focusing on one’s core business is an essential part of achieving success. GMT Accounting Services is structured in such a way that it enables its clients to run their business more efficiently with the help of an outsourced accounting partner. MLR Accounting Services is an expert in its field with more than 20 years of payroll and bookkeeping experience. For the past fourteen years, this service has been made available to a wide variety of small, medium and home based businesses
BENEFITS OF THE OUTSOURCED ACCOUNTANT MODEL
When a small, medium or home-based business is unable to appoint a full-time employee to manage its financial and human resource functions, it becomes the responsibility of someone who should be doing something else. To combat this loss of productivity, MLR Accounting Services offers a customised service package to suit the needs of individual businesses.
Your outsourced accounting partner will supply your business with accurate and up-to-date financial and human resource-related information, as well as documentation compliant with SARS rules and regulations. This enables business owners and managers to make important decisions based on the advice of people who deal with these functions on a daily basis.
MLR Accounting Services develops long-term relationships with its clients, which ensures high levels of loyalty, security and confidentiality. While your accounting partner is getting to know your business without receiving a set monthly salary, you are guaranteed a more efficient and effective financial and human resources department, while reducing your monthly running costs.
BUSINESS PRACTICE
By appointing MLR Accounting Services as your personal accounting partner, you will have a consultant on an hourly or retainer basis according to your individual needs.
SERVICES OFFERED
Compiling the general ledger and cash book: *Receipts *Payments *Journals *Bank account reconciliations and balancing *Monthly management accounts *Fixed assets Debtors: *Issuing invoices *Issuing credit notes *Monitoring monthly statements *Compiling the reconciliation of customer accounts *Liaising with customers Creditors: *Receiving invoices *Reconciliation and balancing of accounts *Payments *Remittance advice *Preparing age analysis *Liaising with suppliers Payroll: *Assisting with the negotiation of employment agreements *Calculating and preparing monthly statements, salaries and salary advices *Paying salaries *Leave monitoring and calculation *Recordkeeping of time sheets and reconciliations *Preparing IRP5s or ITT reconciliations and submission to SARS and employees *Preparing EMP501 reconciliations and submission to SARS Value-added Tax: *Calculation and balancing of VAT account *Completing and submitting VAT201s *Monitoring and ensuring optimal payment of refunds on VAT201s *Year-end reconciliation *Liaising with SARS and auditors PAYE, UIF and SDL: *Calculating and balancing PAYE, UIF and SDL *Completing and submitting EMP201 returns *Year-end reconciliations *Liaising with SARS, auditors and employees *Consulting with employees and entertaining questions relating to salaries and tax *Calculating and completing UIF declaration forms *Completing UI18 and UI19 forms Workman’s Compensation or Occupational Injury and Diseases (OID): *Calculating and completing annual WAS.6 returns General: *Monitoring of monthly expenses *Historic record compilation Accounting: *Preparing financial management accounts to balance sheet *Reconciling necessary accounts for audit purposes *Preparing all documentation to deliver to auditors *Liaising with auditors *Drafting annual financial statements *Balancing and passing of journal entries, amendments and corrections recommended by auditors
FEES
Fees are based on the time spent on your business’s affairs
Hourly rate: R250 per hour
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