Services

Nuwell Accounting

Accounting Services

“Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analysing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing the businesses operations, financial position, and cash flows.”

For any business owner, the resources required to produce accurate and timeous accounting regulated deliverables, might not always be available and not all businesses can afford a full time accountant.  Nuwell enables businesses to benefit from these services, allowing the business to reduce operational and overhead costs.

At Nuwell we provide a full range of accounting service solutions from capturing data to full scale reports. Not only do we compile accounting information in terms of a recognized financial framework but, use the businesses inputs as an opportunity to provide information to empower business owners to grow their business.

Accounting is more than just a set of information but should rather be a value added service. We can provide timely and accurate management statements that will enable a business owner to make better decisions.

Management statements compromises Income Statement, Balance Sheet and Cash Flow statement reported in terms of Key Performance Indicators. Management Statements serves the purpose of outlining the key financial information in terms of operations. Management Statements can differ significantly from Annual Financial Statements. All elements of a business need to be actively managed and without accurate Management Statements it will never be efficiently managed.

Taxation

Tax-related legislation is constantly being revised within South Africa, with the increased complexities and potential implied penalties, a business owner has to treat tax compliance with a high level of priority.

At Nuwell we provide a range of taxation services:

  • Tax Registrations
  • Tax Calculations and Submissions
  • Consulting and Planning
  • Corporate Income Tax
  • Personal Income Tax
  • Capital Gains Tax
  • Value Added Tax (VAT)
  • Dividend Tax
  • Donations Tax
  • Pay as You Earn (PAYE)
  • Provisional Tax
  • Turnover Tax

Independent reviews

Independent Reviews is a limited assurance engagement service, required by the Companies Act, 2008 for any small-to-medium sized business entity which does not require an annual Audit. Review engagements provides less assurance than an audit but more assurance than a compilation engagement. All engagements are subject to the same Code of Ethical Conduct as set out by the South African Institute of Professional Accountants (SAIPA).

With the ongoing changes in the Companies Act, existing entities such as Closed Corporations (CC) might be required to have their financial statements Audited or Independently Reviewed.

A company or close corporation can choose to have their financial statements voluntarily reviewed if it is not required by the Companies Act.

Independent Review are conducted in terms of International Standard on Review Engagement 2400 (ISRE2400).

Secretarial Services

Owning a legal entity regulates compliance requirements in terms of the Companies Act, 2008. These requirements includes Annual Returns, Shareholders Meetings and Resolutions.

Nuwell is geared as an outsourced partner to keep track of, and manage these compliance requirements.

Nuwell provides the followiung secretarial services:

  • Registration of Private Companies
  • Company Changes
  • Lodgement of Annual Returns
  • Deregistration
  • Conversions
  • Special Resolutions

Consulting

Nuwell understands the importance of a well-balanced business in current economic times. Accounting tasks might be minimal and therefore does not require or justify a full time Professional Accountant.

Do you need some assistance? or maybe operational support? Nuwell’s sound accounting experience will be the solution to your business’ accounting requirements, internal controls and management or business ideas.

Payroll

Nuwell is able to provide the following payroll services:

  • Payslips and payroll processing
  • EMP501 Reconciliations
  • Monthly Pay-As-You-Earn (PAYE)(EMP201) submissions
  • Monthly reporting and costings

BBBEE

In South Africa the lack of a valid BEE Certificate can hamper your business’s growth especially when dealing the government or big institutions.

Nuwell Accounting can issue Broad Based Black Economic Empowerment (BEE) Certificates to Exempt Micro Enterprises.

Exempt Micro Enterprises has a turnover of less than R 10 million per year and qualify as a Level Four contributor (100% recognition) as a minimum.

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