Our Services
Monthly Accounting/Bookkeeping
With the current challenging economic times, small businesses can hardly afford to keep full time bookkeepers and accountants. We can be your virtual accounting department. Apart from taking away stressful monthly bookkeeping and accounting tasks, management will receive a monthly financial reporting pack which is tailored according to each business’ needs and may include a year to date Balance Sheet, Income Statement and cash flow statement, monthly Accounts Receivable Aging report, monthly Accounts Payable Aging Report; Monthly Bank Reconciliations; Monthly Cash Flow Reports. Upon management’s request and/or requirements, we will schedule monthly or quarterly financial review meetings to go over the reports and talk about your exciting business plans.
Human Resources Management
Our Human Resource Management (HRM) services are aimed at sourcing, selecting and appointing the best employees for each of our clients. Our processes are designed in such a manner that we source and recruit highly committed, capable workforce who are carefully placed to fit into the organizational culture, structure and vision. Our HRM functions include but not limited to the following
- Human Resources planning
- Recruitment and selection
- Human resource policies and forms
- Training management
- Performance management
- Payroll management
- Organisational change management
Year End Services
HM Accountants & Tax Consultants will provide your business with year-end services that will ensure that you are able to verify all the financial statement balances and are confident that the reported figures are valid and accurate. We also perform tax matters (including VAT), clearing any issues that may be in existence relating to the revenue authorities as well as filling current tax returns. To ensure that Directors only focus on more strategic matters, we also perform and file Director’s tax returns.
Business due diligence
Our due diligence processes and procedures includes looking into the information of a potential business partner/ new contract/ joint venture or business acquisition. We focus in analyzing the financial data and identify key trends behind the performance of a business or project, discussing the outcomes and projections with management and writing reports of the findings and recommendations. Other activities include identifying negotiating factors for the purchase price and deal structuring i.e. contributions as well as shareholding. In order to provide a clear view of how the deal will potentially turn out; a detailed report is prepared as well as the projections of all the financial information of the deal coupled with risks identified, mitigating controls, recommendations as well as exit strategy at the end of the deal term.
Business improvement
We acknowledge that management does not need to understand the financial statement jargon therefore we analyze and interpret your financial data and present it in a way that makes sense to your business. Our analysis and interpretation of the financial statements will ensure that management fully understands how the business is performing and are well equipped to make tactical and strategic decisions that are aligned to the overall business objectives.
Financial Analysis
With the ever changing business environment businesses are constantly being challenged to improve their processes to align with new customer expectations, new technologies and new ways of doing business to ensure optimal use of existing resources to get the best possible result. We first understand your business objectives and goals and then review, analyze and redesign current processes ensuring that these processes are efficient, cost effective, aligned to business objectives and ultimately ensuring that maximum returns are achieved.
Risk Management & Internal Control
We understand that risk management and internal control are not business objectives in themselves. However, they should always be considered when setting and achieving organizational objectives and creating, enhancing, and protecting stakeholder value. To set you up for success HM Accountants & Tax Consultants integrates effective governance structures and processes with performance-focused risk management and internal control at every level of your business and across all operations.
Accounting Checkup, Clean Up and Catch up
At HM Accountants & Tax Consultants we use the “3C approach” to check up, clean up and catch up your books. This approach guarantees that when we are done, your set of books are up to date and are in an auditable state. With good financial data, management is able to understand the company’s cash flow requirements, review accurate budgets and better understand the company’s financial health. Accounting specialists can be very expensive to hire on a permanent basis hence we provide same service on a contract basis.
Small Business Training
In order to ensure that our clients do not only comply through the services we perform for them; but they do understand different divisions of their business and the applicable laws and regulations, from time to time we provide trainings to clients in accordance with their identified needs. Training covers a wide range of topics or lessons. These may include:
- Registering a business
- Registering with the applicable authorities
- Hiring employees
- Human resources
- Record Keeping
- Importance and what makes up financial statements
- Taxation including VAT
- Business Management
- Business development and growth
- Competitiveness
- Communication
- Budgeting
- Financial Literacy
- Developing a business plan
- Selling price determination
- Other lesson per needs analysis
Audit Readiness
Audit readiness need not be a complex challenge. While many companies have difficulty completing audit requests on schedule, HM Accountants & Tax Consultants approach will ensure you meet deadlines comfortably and help you optimize your year-end processes, freeing you and your team for other activities. We will assess your current methods, and help identify and implement improvements in the closing and reporting processes. We will liaise with your auditors to obtain audit requirement and work together with the company responsible personnel is preparing the audit files prior to the audit. This will ensure that the documents that can be prepared prior to the audit are already filed and ready for review/ inspection before the auditors arrive.
General Entrepreneurial Support & Secretarial Services
We offer support services tailored for each entrepreneur’s needs. Services include support from pre-establishment phase (assessing entrepreneur’s business idea, market research), training on basic entrepreneurial skills and provision of information, training on bookkeeping, cashflow management and other entrepreneurial needs. Whatever the need is, we craft a suitable solution. Our consultants are especially trained to take care of all the entrepreneurial needs, including secretarial needs as follows:
- Business registrations with CIPC
- Annual Returns with CIPC
- BBBEE Verification certificates
- Taxation services (registration, filing, tax clearance certificates) for individuals and corporate
- Registrations, filing and compliance with applicable laws and regulation such as UIF, SDL etc
- Business Plans drafting and reviews
- Business Profiles drafting and reviews
Accounting Review Services
We understand that some businesses do not need to employ a full time Financial Controller, Financial Manager or their financial state may not allow those full time employees. We have learnt from past experiences that at times you may want an outside, unbiased, and experienced Accountants to review your financial statements periodically with no monthly financial commitment/ obligation. We will review your financial statements and discuss them with management. This will ensure that you understand your accounting and financial performance and position and are able to make informed management decisions.
Forensic Accounting
With the rising number of fraudulent activities occurring daily, every business is at risk of these fraudulent activities. At HM Accountants & Tax Consultants we acknowledge this very high risk of losing company funds or resources. We have therefore designed a special service where we look into possible suspicions of fraudulent activity within a company; or just to review accounts and put into place procedures to prevent fraudulent activities from occurring.