Bookkeeping and accounting
	Set-up of accounting systems and controls
	Specialise in preparation of monthly or bi-monthly management accounts
	Preparation of interim financial reports
	Preparation, completion and submission of monthly and annual statutory returns, e.g. VAT, PAYE (EMP201), IRP 5, etc
	Payroll administration and services
	Business plans
	Budgets and cash flow projections
	Pastel sales, support, installation and set-up of the full Pastel accounting range, as well as customised individual training
	Staff training in bookkeeping, software implementation and administrative tasks
	Preparation of working paper files for registered audit firms

Fees in respect of professional services are based on time spent at competitive hourly rates which vary depending on the nature and complexity of the services required and range from R180/hour or R1,440/day for a bookkeeper to R275/hour or R2,200/day for an accountant.

The following factors are taken into account when determining the final hourly rate:

• The complexity of the work to be undertaken;
• Specialised knowledge, research and responsibility involved;
• After hours work at the request of the engagement partner of the firm/ independent accounting officer or the client, or which is necessary because of the nature of the work involved. Time and a half is charged for after hours work.

Hourly rates increase annually on the 1st March in line with the Institute of CFA's recommended tariffs.

The fee and service provided will be agreed with the client before any work is commenced. All work in progress during the month is billed at month-end, irrespective of whether the job is completed or not. An advance against anticipated fees may be required prior to commencement or continuance of assignments.

It is common practice amongst accountants working independently not to offer credit terms to clients. Being self-employed, BAN Associates have adopted the same approach.

Charges are levied separately for:

• Travelling expenses, including parking;
• Time billable includes travelling time where less than 7 hours is worked in any one day, thus the billable time will accrue from the point where the Associate leaves their office until their return;
• Certain stationery, e.g. accounting books;
• Registration and/or completion of statutory returns which fall outside normal monthly work;
• Consultation/meetings with the client's auditor or accounting officer
• Consultation/meetings with other BAN Associates related to your business;
• Telephone call time and petties.

It is well known that most businesses fail within the first two years, while many others fail later. Even though entrepreneurs may have good technical skills and/or marketing abilities. Why?

Business failure could more often than not be attributed to poor management - in particular:

• lack of financial skills;
• lack of management skills;
• lack of a proper business plan, including market analysis, product costing, no budgets and cash flow projections;
• lack of an appropriate financial reporting system which reports monthly on variances from budgets; and
• no regular professional financial advice.

Business people understand the relationship between costs of products/materials for resale, labour costs and sales revenue. They also accept the necessity of certain other costs like rent, telephones, interest, and equipment. But certain costs are often seen as "unproductive", that is they produce no direct revenue, and hence should be kept to a minimum, and even postponed where possible. Such costs include:

• Employment costs of accounting and administrative personnel;
• The costs of outsourced monthly management accounting;
• If applicable, the costs of outsourced payroll;
• The cost of tax and other regulatory compliance;
• The cost of protecting rights, including proper legal agreements;
• Audit costs

Good accounting can save the day - precise financial planning and reporting should always be a cornerstone of any business. In difficult financial times, paying attention to accurate accounting and report monitoring on a monthly basis goes a long way to ensuring the financial well-being of the entity.

All too often, "saving" on vital accounting and administration costs exposes the business to much higher costs later on, as the cost of rectification far exceeds the costs of doing things right the first time. These costs might include:

• Liability of taxes, penalties and interest arising from underpayment of VAT and PAYE;
• Penalties and interest to SARS on unpaid taxes or underestimates of provisional taxes;
• Criminal conviction for non-compliance;
• SARS audits of income tax submissions;
• SARS audits of VAT and Payroll submissions;
• CCMA disputes arising from non-compliance with labour legislation;
• Substantially higher accounting costs as a result of inadequate financial recording in the first place;
• Declined loan applications due to the lack of convincing financial information;
• Unable to sell the business due to the lack of credible financial information;
• Exposure to losses through stock shrinkage.

In this day of excessive regulation, business simply cannot afford to omit the costs of qualified bookkeeping and accounting services.