WHAT WILL IT COST?
Let’s take a look at some business case studies to give you an idea of what outsourcing your bookkeeping or accounting services will cost…
To ensure your accounting or bookkeeping fees are affordable for the size of your business, TRNZact customises each quote according to your requirements and we charge per “TRNZaction”. We also commit to fixing our monthly fee over a 12-month period so that there are no hidden costs! And – because we pride ourselves in our service, there is no fixed term contract.
To give you a basic idea of our fees, we’d like to share with you some real-life examples of our clients’ monthly accounting expenses for 2019. (Note: These prices exclude Vat and Xero online accounting software @ R 400 per month)
This includes: Annual Financial Statements, Business and Personal Tax Returns @ R960p/m
Mike has a manufacturing business in Camperdown. He has a very competent bookkeeper that handles all of his monthly requirements: Vat, PAYE etc. But, Mike needs an accountant to review his year-end figures and handle his Annual Financial Statements and his business tax return. It is an owner run business and Mike’s personal salary is very integrated with how his business is performing monthly, so he also needs his personal tax return to be done and some tax planning between his business and personal tax.
Price for these services: R720 + R120 + R120 = R960 per month
compliance and year-end guidance?
This includes: Bookkeeping (light), Management Accounts, AFS and Tax Returns @ approx R2 740p/m
Cindy owns a building in Durban and rents it out to a number of businesses (of which one is her own). She requires us to send out invoices and statements to all her tenants, as well as to provide her with monthly management accounts. These show her clearly how much profit she is making monthly, as well as who is or isn’t paying their rent for that month. We do all the bookkeeping for this entity, as well as the year-end financials and tax returns.
Price for these services: R2 740 per month
This includes: Bookkeeping, Management Accounts, Payroll, AFS and Tax Returns @ approx R4 900p/m
Gavin and Busi are co-owners of an outsourced IT consultancy in Joburg. They provide custom programming solutions to businesses. The most important things for them with regards to their accounting is, firstly, managing their payroll (as their staff drive their company profit and they don’t want any hassles from SARS) and secondly, to track the recovery rate of each of their staff against the jobs that they bill for. We manage this for them by using tracking categories in Xero. We are able to link their invoices and relative expenses to each project they complete. In addition, we suggested a cloud-based time tracking software that we access, and then allocate the cost of each staff member to the respective projects in their Management Accounts reports. They have 5 employees (including themselves) in total.
Price for these services: R4 900 per month
This includes: Bookkeeping, Deluxe Management Accounts, Payroll, Annual Financial Statements and Tax Returns @ approx R8200p/m
Dave has a sugarcane farm in Eston, KZN. He employs about 20 staff, but only 5 are monthly and the rest are weekly wage staff. He has asked us to do the full outsourced service of his bookkeeping, vat, payroll, and financials. In addition, he wants to get a detailed set of monthly management accounts that link all his input costs to the yields he gets on the respective farms, and then compare these on a monthly and annual basis. We call this our “deluxe management accounts” package and they include a once a month walkthrough of these accounts. These reports are tailor-made to suit your business needs.
Price for these services: R8 200 per month
This includes: Diesel rebate submissions @ R2 520p/m
John came to us as we specialise in the diesel rebate and vehicle management submissions needed to get some tax money back, for farmers who use diesel on their farms. He is happy with his current bookkeeper and accountant and is looking to save some money on his diesel rebate. He can claim this as farmers do not use their farm vehicles on government roads and hence shouldn’t pay the fuel levy of R3.21 per litre. He has 8 vehicles that we track and maintain records for. John is currently being charged R2,520pm for our services, which includes the maintenance software. He is saving over R8,000 a month on the claim that we submit for his diesel rebate. It’s a no-brainer!! This we calculate and give to his accountant every month to claim against Vat due in his Vat return.
Price for these services: R2 520 per month