About Kharwa Financial Accounting Services

KFAS General Ad
Reading Time: 3 minutes

Sponsored Content: This article has been sponsored by KFAS accounting
Author: Muhammed

Kharwa Financial Accounting Services is a registered accounting practice which has client service and satisfaction as its main priority.

The company was formed in 2004 and has grown and is still growing into a major player in the accounting and taxation field. Our clients consist of sole proprietors, close corporations, limited companies, trusts and non-profit organizations. We target small to medium business with the aim of empowering them to make decisions which are well thought out and advantageous to their businesses.

We offer individual attention to ALL our clients and are different from most other accounting practices, in that we call on our client at their premises and at our client’s convenience. We realize that most small business operators do not have the manpower to leave their business to spend 2 hours with the accountant at his offices.

We offer the services below:

  1. Registrations

  • Company and Trusts
    • We assist our clients to decide on what type of entity would be best suited for their needs, based on the type and size of business. We also consider current tax legislation when advising our clients.  
  • Income tax
    • All persons and corporate entities who conduct business in South Africa have to be registered for income tax. Income tax registrations also apply to Trusts. We complete all income tax registrations within the shortest possible time.
  • VAT
    • VAT or Value Added Tax applies to all business persons and entities who meet certain criteria. We advise our clients, based on the type of business, as well as on their performance projections, whether they need to register for VAT or not.
  • UIF/PAYE
    • All employees, commercial and domestic, have to be registered for UIF. We complete all UIF registrations as well as PAYE registration on behalf of our clients. 
  • Workers Compensation
    • All commercial employees must be registered with the Compensation Commissioner. 
  1. Annual Financial Statements and Income Tax Returns

All individuals and entities who operate businesses are required to present financial statement for various reasons such as bank loans, tax purposes, asset finance, etc, etc. Financial statements reflect whether a business was profitable during its trading year as well as its net asset value at a particular date. Financial statements are used to complete and submit tax returns to the revenue services, so that the revenue services can tax the entity accordingly.

  1. Business Plans

All financial institutions, when assessing business loan applications, require applicants to draw up a business plan. A business plan describes the business as well as the business objectives, marketing strategy, capital requirements and various other information pertinent to the business. Business plans are also required by landlords and franchisors to assess the feasibility of the business. We prepare both simple and complex business plans based on the clients needs.

  1. Tax Planning

Tax planning and tax structuring is a very important service as it enables our clients to always be tax compliant as well as tax intelligent. We have tax specialists who sit down with each client, annually, and review their tax positions. This service is offered to all, small and large clients, as it has been proven, time and again, that all large business started out small.

  1. Business Consulting

Business consulting entails our going to our clients business, spending time with our client and evaluating their operations. We would check where there are shortfalls, if any, and suggest remedial action. We would advise the client on aspects such as marketing, store layout, security, stock control, etc.

Related Posts:

How a Business Plan can help you with your travel plans?

3 Things You Need to Know About Foreign Currency Before Travelling

 

7 Reasons why you need Travel Insurance

4 Reasons Why it is Important to Budget for Your Travels

7 reasons why working with a professional accounting company can help you save more to spend on travels

 

Details of KFAS Accountants:

Website: https://www.kfas.co.za/

Instagram: https://www.instagram.com/kfas_accountants/

Email: zubair@kfas.co.za / nabeela@kfas.co.za

Phone: +27 31 207 4440

Address: 38 Barnard Road, Bonela, Durban, South Africa

Leave a Comment

Your email address will not be published. Required fields are marked *

Open chat
Assalaamu alaikum
Welcome to Halaal Travels!
How can we assist you today?