This easy to understand bookkeeping for business will assist you or your staff to understand how books of account are constructed from source entry to balance sheet.

Designed for individuals, entrepreneurs, financial administrators, personal assistants, and bookkeeping staff who need to gain a basic understanding of how the “books of account” are designed and integrate into business.

The following courses are included in the package:

BASIC BUSINESS BOOKKEEPING

• Basic Bookkeeping and Accounting Terminology
• Why you need bookkeeping
• Accounting Cycle
• Source Documents
• Books of First Entry
• Chart of Accounts
• Audit Trails
• Trial Balance
• Income Statement
• Balance Sheet
• Depreciation/Amortisation
• Compound Interest
• Prepayments
• Accruals and Provisions
• Journals
• Reconciliations
• Month/Year End Close of
• Annual Financial Statements
  
  

ACCOUNTS PAYABLE PROCESSING

• Why is Account Payable important, and how it adds value to your business
• Key Accounts Payable Controls
• Processes, systems and procedures
• Organizational Accounts Payable Policy
• Year-end reporting requirements
• Methods of ensuring consistency with your Accounts Payable functions
• Processing Methods
• Accounts Payable management reporting tools
• Data Capture, workflow processes and document control management
• Electronic invoices, purchase orders and shipping documentation
• Transactions from initiating purchase order to completing invoice payment
• Simplifying standard internal procedures
• Accruals & Provisions - to effectively use methods during close-off periods
• Streamline management reports and reducing unnecessary information
• Year-end close-offs & the importance of a check list
• Reconciling your Accounts Payable accounts
• How to prevent duplicate payments
• How to reduce unallocated payments
• Your filing system - ensuring your information is ready for your auditors
• Vendor information you are required to have
• Procurement policies and procedures with overview

VAT FUNDAMENTALS & FOUNDATIONS

• Registrations - Supporting Documents and Forms to fill in
• The importance of knowing the difference between voluntary and compulsory registrations
• Sale of a Going Concern and the subsequent VAT registration of the purchaser
• Registering separate activities, divisions and branches
• How to register for VAT on E-filing
• Managing your user profile and access rights on E-filing
• What constitutes a supply?
• The enterprise test – what activities are and what activities are not
• Standard Rate, Zero Rate and Exempt – knowing the difference
• What to do when a VAT number is pending
• NEW VAT Vendor – Back Dating vs Back Claiming
• Supplies made to the person prior to registration – Section 18 (4) (b)
• Deregistration and Exit VAT
• Income tax consequence of Exit VAT
• VAT Categories
• The 10-Day Rule
• Accrual Basis / Invoice Basis compared to Payment Basis
• Exceptions to the general time and value of supply
• Invoices – Complying with the SARS check list
• How to fill in the VAT201 form

COMPANY COMPLIANCE

• Department of Labour – When and How to register and for what
• UI-8 – What this form is for and what to do with it
• UI-19 – What this form is for and what to do with it
• Staff Files – Relevant documents needed to keep in a staff file
• Staff Payslips – When to supply an employee with a payslip and what information is needed to include
• Salaries & Wages – How to calculate pro rata salary, bonus, leave and sick leave
• Staff Leave – How staff leave works and how to calculate unpaid leave
• Leave – How annual leave works and how to calculate to pay out
• CIPC – Annual return requirements and how to ensure that the company does not get deregistered because of failure to renew
• Personal Income Tax – The company’s responsibility in terms of staff personal income tax as well as informing staff of their responsibility to submit their own income tax
• Workmen’s Compensation – When to register for Workmen’s compensation, and how it works.
• PAYE, UIF & SDL – Relevant deductions from staff salaries and submissions to SARS. (EMP201 Submissions)
• IRP5’s and IT3’s – Issuing of IRP5’s and IT3’s and when required (EMP501)

DEBT COLLECTION MANAGEMENT

• Importance of Working Capital & Cashflow
• Importance of Risk Assessment
• Implementation of a Credit Policy
• Communication styles used with Clients
• Letters of Demand & Repayment plans
• How to Measure the effectiveness of Debt Collection