{"id":525,"date":"2025-11-14T07:37:33","date_gmt":"2025-11-14T07:37:33","guid":{"rendered":"https:\/\/qit-solutions.co.za\/magodo\/?page_id=525"},"modified":"2025-11-25T07:27:06","modified_gmt":"2025-11-25T07:27:06","slug":"accounting-services","status":"publish","type":"page","link":"https:\/\/qit-solutions.co.za\/magodo\/accounting-services\/","title":{"rendered":"ACCOUNTING SERVICES"},"content":{"rendered":"\t\t
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ACCOUNTING SERVICES<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Bookkeeping<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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Bookkeeping is the most basic of all accounting functions. Bookkeeping involves maintaining accurate and updated records of all of your company\u2019s financial activities. These include bank records, tax filings, payroll records, purchase and sale records, and regulatory filings. These records are essential to regulatory compliance. Proper bookkeeping makes other accounting functions, such as audits, payroll, and tax preparation, much simpler and less time consuming.<\/p>

The basic bookkeeping will start with journalising every daily transaction to trial balance and therefore the data in the trial balance will be used for annual financial statements.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Monthly Reconciliations<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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The reconciliation of payment and receipt transactions to the accounting system is one of many internal controls that must be in place in any finance department.<\/p>

It helps to verify the accuracy of transactions posted to the accounting system.<\/p>

The purpose of controls is to protect the business and protect those employees who are acting in good faith and reconciliations may be performed periodically (daily, weekly and monthly), depending on the needs of the department.<\/p>

Reconciliation of transactions to source documents is required to be performed for all transactions over R100. Reconciliations must be documented and an audit trail maintained. All reconciled transactions must be kept for the current and atleast two prior fiscal years.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Monthly Management Report<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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These monthly reports are very critical and the true guidance to management in their everyday decision making. These reports goes into the nitty-gritty of all the line transactions that would have happened in that particular month and these transactions include all expenses, all revenue channels, liabilities as well as all the assets activities per month.<\/p>

The reports will be in the form of financial statements as it will include monthly statement of comprehensive income, statement of financial position, statement of changes equity, statement of cash flow showing the budgeted section and the actual section which will yield the difference between the two to determine the over or under budgeted transactions. Additionally, we will use the graphs as part of the elaboration.<\/p>

This detail financial information is the source to make an informed decision from our side as well by the managements.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Budgeting and Projected Cash Flow<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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This aspect help with the cost and expenditure management of the business financial resources. Budgeting is always important so to preserves important resources to be used strategically.<\/p>

The projected budgeting helps to set achievable targets with more profits to be achieved as you know what to spend the resources on, and how much effort.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Financial Performance Analysis<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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To evaluate the financial condition and performance of the business. Financial analysis bring to light the life line of the business in the form of financial ratios. This indicate the state of profitability of the business, Liquidity and solvency of the business, financial leverage, Shareholding.<\/p>

The tool also enables year-over-year trend analysis and provides context for the company’s performance within the broader market and industry.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Invest in financial clarity today to maximize tomorrow's returns.<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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