Accounting Facts

Did you know?

RECOMMENDED RETENTION PERIODS

  • AFS, books of account - 15 years

  • Fixed asset registers - 15 years

  • Tax returns and assessments - 5 years

  • Invoices, bank statements - 5 years

  • VAT records - 5 years

  • Staff related records - 3 years

VAT & INVOICING

  • The requirement for a full tax invoice is now R5000.00.

  • Do you know the difference between a full tax invoice and an abridged tax invoice?

  • What happens if you lose a tax invoice?

  • What do you do if the tax invoice is incorrect or incomplete?

  • Are you meeting the requirements of electronic invoicing?

ARE YOU GETTING MAXIMUM ADVANTAGE?

  • The timing of your year end?

  • Loan utilisation?

  • Utilisation of tax free allowances?

  • The tax write offs on fixed assets?

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CONTACT US

Trifin Financial Services provides a comprehensive and professional financial, administrative and legal solution to businesses and individuals.

16 Insala Road, Kloof, 3610
ji**@tr*********.za
+27 (31) 764 2913

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