The King's Chartered Accountants and Tax Practitioners

The King's Chartered Accountants and Tax Practitioners

Accounting

Durban, KwaZulu Natal 559 followers

A family-run accounting firm offering Accounting & Tax Services so that you don't lose sleep over filing taxes - Col3:22

About us

ADVANCED SERVICES • Preparation of Annual Financial Statements. • Budgeting & Cash Flow Forecasting. • Inventory Management & Costing. • Fixed Asset Management. • Assistance in preparation of bank proposals for facility/financing applications. PROCESSING TRANSACTIONS • Creating & capturing customer invoices. • Income & expense allocation. • Capturing cash book transactions from bank statement. • Capturing supplier purchases. • Credit card statement allocation. • Depreciation calculation and capturing. MONTHLY RECONCILIATIONS • Bank Account recons. • VAT Control Account recon to VAT 201 submissions. • Debtors Reconciliations including issuing Debtors Statements. • Creditors Reconciliations from accounting system to supplier statements. • Staff loan accounts reconciled & statements given to staff members. • Fixed Asset Register reconciled for monthly & annual movements. • Monthly Work in Progress reconciliation & breakdown of Finished Goods on Hand. MANAGEMENT ACCOUNTS PROVIDED MONTHLY • Detailed income statement per month with cumulative YTD total & Prior Year comparison. • As at Balance Sheet with YTD movements including a Prior Year comparative. • Debtors Age Analysis detailed per debtor. • Creditors Age Analysis detailed per creditor. • Bank cash flow movement for the month. • Work in Progress breakdown. • Commentary and analysis on all of the above provided. TAXATION • Applying for income tax, PAYE & VAT numbers with SARS. • Calculation of monthly/bi-monthly VAT balances due to / from SARS & annual reconciliations. • Submission of VAT returns. • Calculation & submission of monthly EMP201s & annual EMP501 returns. • Calculation & submission of bi-annual IRP6 provisional tax returns. • Calculation & submission of IT14 annual tax return. • Liaise with SARS regarding any IT14SD audits that may occur. • Provide advice on the best tax practice.

Industry
Accounting
Company size
2-10 employees
Headquarters
Durban, KwaZulu Natal
Type
Partnership
Founded
2020
Specialties
Accounting, Bookkeeping, Secretarial, Tax Services, and Costing

Locations

Employees at The King's Chartered Accountants and Tax Practitioners

Updates

  • Here are some leadership traits you can cultivate in your daily life: 1. Emotional Intelligence: Self-awareness, empathy, and social skills to effectively manage relationships. 2. Visionary: Develop a clear, compelling vision and communicate it to inspire others. 3. Integrity: Demonstrate strong ethics, honesty, and transparency to build trust. 4. Accountability: Take ownership of actions, decisions, and outcomes. 5. Resilience: Develop adaptability, stress management, and perseverance. 6. Effective Communication: Clearly articulate ideas, listen actively, and provide feedback. 7. Coaching and Development: Foster growth, provide guidance, and empower others. 8. Strategic Thinking: Analyze situations, make informed decisions, and plan for the future. 9. Collaboration: Build and lead high-performing teams, encourage diversity, and promote inclusivity. 10. Adaptability: Stay agile, open to change, and willing to pivot when necessary. 11. Decisiveness: Make informed, timely, and confident decisions. 12. Empathy and Compassion: Show understanding and care for others' perspectives and well-being. 13. Authenticity: Be genuine, true to yourself, and transparent in your leadership. 14. Positive Attitude: Maintain a optimistic outlook, even in challenging situations. 15. Continuous Learning: Pursue knowledge, self-improvement, and innovation.

  • There are two main types of cash flow statements: 1. Direct Cash Flow Statement: - Shows major sources and uses of cash in a clear and straightforward manner. - Lists cash inflows and outflows as they occur. - Typically used by small businesses or organizations with simple financial transactions. 2. Indirect Cash Flow Statement: - Starts with net income and adjusts it for non-cash items and changes in working capital accounts. - Reconciles net income to net cash flow from operations. - More complex and detailed, often used by larger businesses or organizations with complex financial transactions.

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    The King of Chartered Accountants. I'm the Mascot for one of the fastest growing Chartered Accounting Firms in S.A.

    The CEO, CFO, and COO's distinct responsibilities: 1. CEO (Chief Executive Officer): - Highest-ranking executive - Overall strategy, direction, and decision-making - Oversees entire organization - Reports to the board of directors 2. CFO (Chief Financial Officer): - Responsible for financial management and planning - Oversees accounting, treasury, and financial reporting - Develops financial strategies and manages risk - Reports to the CEO 3. COO (Chief Operating Officer): - Responsible for day-to-day operations and management - Oversees departments like marketing, sales, and production - Implements business strategies and plans - Reports to the CEO (or sometimes the board of directors) For business advisors, contact The King's Chartered Accountants and Tax Practitioners

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    Bridging Physics, Technology & Engineering to Drive Innovation in the Digital Age 💫 Spreading Positivity

    Our mind, body and soul are interconnected in ways that we may not fully understand. We often tend to focus on one aspect, neglecting the other two. However, it is crucial to understand that they are all equally important and work together to create a harmonious balance within us. 🧠The mind is where our thoughts are born, and it plays a significant role in how we perceive the world around us. 👫Our body is the vessel through which we experience life, and our senses enable us to interact with the environment. ❤️🔥Our soul is the intangible aspect of our being that connects us to our higher self and the universe. 🗯🗯It is essential to pay attention to the signals our body gives us as it is a storehouse of information that our mind may not have access to. 💡To develop synchronicities between the mind, body, and soul, here are a few techniques that can be beneficial:⚘️ ↪️ Mindfulness - Mindfulness is the practice of being present in the moment and observing our thoughts, emotions, and physical sensations without judgment. ↪️ Meditation - Meditation is a powerful tool that can help us connect with our soul. It is a practice that involves focusing on a single object or thought to achieve a state of deep relaxation and inner peace. ↪️ Exercise - Physical activity is essential for maintaining a healthy body and mind. It can help release endorphins that elevate our mood and reduce stress levels. ↪️ Nutrition - Our diet plays a significant role in our physical health and mental well-being. Eating a balanced diet rich in nutrients can provide the energy needed to function optimally. 🍃🌷In conclusion, developing synchronicities between our mind, body, and soul is crucial for overall well-being. 🎯Taking care of each aspect equally can lead to a harmonious balance within us, enabling us to lead a fulfilling life. So, let us pay attention to the signals our body gives us, listen to our thoughts, and connect with our soul. #whatinspiresme #linkedin #learning #socialnetworking #networking #wellbeing #science #education

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    📝Spark the light within your T.A.L.E.N.T🔥 People are so afraid to be anything but average these days. Stick with what makes you unique. This is one of the major indifferences between being a commodity or #brand. Commodities mostly compete on features, benefits and price. Brands are distinct, memorable and worth paying a premium for. Talent might get you in the door, but hard work is what establishes you among the best. It's about pushing beyond natural ability and consistently striving for excellence. The highest achievers understand that mastering any field involves relentless effort, continual learning, and constant adaptation. Everyone at the top has talent, but it’s the extra effort and dedication that truly set them apart. A disciplined person knows that #success is a marathon, not a sprint, focusing on incremental progress and long-term gains. This approach is crucial for anyone looking to achieve lasting success in any field. Embrace your unique traits because these are often the very aspects that fuel your peak performance. When you stick to what makes you different, you are more likely to #experience higher levels of intrinsic motivation, #creativity, and resilience. This authenticity allows you to operate in a state of flow, where you are most #productive and effective. Talent is a head start, not a guarantee. Discipline will always outperform talent in the long run. Show up. Do the work. Repeat. Always stick to what makes you weird, odd, strange, different. That’s your source of power. Write-up: Olawale Kolawole #management #strategy #mindfulness #education

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