Bullivant Accounting and Tax Services CC

Bullivant, provides bother bookkeeping services and support to your in-house bookkeeping department.
If you do not have a system, depending on the type of business you operate & the level of reporting, will depend on if we use one of the below, as the online bookkeeping system; because we are resellers, we can obtain better rates for you.

a) QuickBooks Online (QBO)
i) Simple
ii) Essential
iii) Plus

b) or SMARTEDGE
i) Smart accounting
Smart enterprise

If you elect to have us do the bookkeeping
i. We encourage you to take control of the customer invoices & collections
ii. We ensure that all expense supporting documents are processed & attached to your transactions
iii. Bank reconciliations are preformed regularly for all bank accounts including credit cards & fleet cards. If necessary more than once a month.
iv. We manage the following monthly
- Reconcile the customer, supplier and control accounts
- Fixed assets register
- Process all depreciation journals
- Ensure the disposal of asset are processed timeously
- Process all other transactions such as payroll journals, etc
- Loans advanced to / from staff, management, directors and shareholders (Report to management on non-repayments, non-compliance with NCA and contravention of the Income Tax Act)

v. We manage the VAT process, which includes the following
- Check for correct application of the VAT Act to taxable supplies
- Check that your suppliers are registered and use the correct VAT number allocated to them
- Check that the supporting documents comply with the VAT Act requirements
- Prepare after your approval, submit the VAT201 return via e-filing.
- Set the payment instruction from e-filing for your release from your internet banking platform
- Assist with your approval, SARS verification, audit, Notice of Objection & appeal process

Run the payroll monthly according to your needs (We do not run weekly or bi-weekly payroll runs)

What you can expect
1) Payslips per employee
2) Payslips to agree with the employment contract benefits
3) Monthly submissions
a) Declaration to the Unemployment Insurance Fund (UIF)
b) Of the EMP201 to SARS
4) Half-yearly submission
a) EMP501 employer reconciliation to SARS
5) Annual submission
a) EMP501 employer reconciliation to SARS
b) Generate & issue employee tax certificates
c) Return of earnings to the Compensation Commissioner
6) All submissions are only submitted after your approval is received
7) If it is a SARS return, set the payment instruction from e-filing for your release from your internet banking platform

Assist with your approval, Compensation Fund, SARS & Compensation Fund – verification, audit. Notice of Objection & appeal process

Bullivant, can sign off the complied financial statements and management financial statements
i. When your business has a Public Interest Score of less than 100 as per the Companies Act, and
ii. If it is for a sole proprietor and or partnership, and
iii. If it is an incorporated company, close corporation or Trust that does not require an Audit or an Independent Reviewer’s report, and
vi. Have a starting point before preparing the annual tax return to SARS

Bullivant, can compile your business Annual Financial Statements and management financial statements from your financial data
i. If your business does not have somebody qualified within to prepare the Annual Financial Statement
ii. Your Public Interest Score is between 0 to 350, have ready for the Independent Review / Auditor
iii. If your Trust Deed requires the financial statements to be audited, Bullivant can still compile them
iv. So that you are compliant with
- The Companies Act reporting obligation,
- The business accounting policies and procedures and
- Correct reporting framework
v. Ready for the bank overdraft review and / or
vi. Have a starting point before preparing the annual tax return to SARS

Type of returns
1) Income Tax for Companies, deceased estates, individuals and Trust
i) Provisional tax returns
ii) Annual Tax returns

2) EMP201 & EMP501 for any type of entity that
i) Employees people to perform a job
ii) This includes owner-managed business – CC members and company directors

3) VAT201 for anyone in business that has a turnover in excess of R1 million for any 12 month period.

Assist with your approval, SARS verification, audit, Notice of Objection & appeal process

To date, Bullivant has obtained a 99% success rate on SARS verification, audit, Notice of Objection & appeal processes

Bullivant will manage the administration of deceased estate process, mentioned below are a few of the process
1) Be compassionate to the surviving family members
2) Collect all assets
3) Settle all debts
4) Submission of all tax returns
5) Obtain Deceased Estate Compliance letter (DEC) - tax clearance for the deceased estate income tax
6) Obtain Estate Duty Clearance letter (ED) for the deceased estate duty
7) Obtain approval from the Master
8) Arrange to have the Testamentary Trust set up is necessary
9) Distribute the assets or money to the cash legatees & heirs

Bullivant will assist you to determine which structure and Trust is best suited to your needs
- Provide insight as to why a Trust could be beneficial to you and your family
- Bullivant can have new Trusts setup that are compliant with recent South African tax law
- We can also, have existing Trust Deeds reviewed and update if necessary
- Register with SARS for Income Tax and any other tax type if it is a trading trust

Bullivant is happy to manage the following processes with your Trustee’s approval
1) Administration of amendments with the Master
2) Bookkeeping
3) Business Advisory
4) Compilation of the Annual Financial Statements
5) Provisional and Annual tax return submission

Bullivant has a legal team at its disposal for all legal matters