Reconciliation of Accrued Revenue and Accrued Wages with supporting calculations and month-end
cut off details
M
ANAGEMENT REPORTS
Preparing and reporting the complete management information pack, as described in attachment 1
S
TATUTORY REPORT
Preparing the VAT return if and when required by statutory rules
Preparing all other tax returns required by statutory rules
[YOU’RE COMPANY NAME] Accountants are not familiar with taxation principles, and may require guidance from
you on this issue.
A
NNUAL
R
EPORTING
Annual financial statements presenting the Balance Sheet, the Income Statement and standard notes to
the accounts
Corporate Income and Local Business Tax returns.
[YOU’RE COMPANY NAME] Accountants are not familiar with taxation principles, and may require guidance
from you on this issue
P
AYROLL
1.
Initial set-up of the payroll system
a.
Design of the necessary payroll reports
b.
Design of the input documents
c.
Set-up of the electronic payroll master-file to be used ([YOU’RE COMPANY NAME] will use their
own Payroll software, unless you decide that you wish to use one of your own choice)
2.
Collection of data - Preparation of information related to
a.
Employee position
b.
Monthly salary
c.
Medical leave
d.
Holiday
e.
Overtime and shift worked
f.
Bonuses and other benefits
g.
Expenses to be reimbursed
h.
New employees
3.
Processing of data
a.
Processing payroll information into the master-file
b.
Calculating monthly salaries, including the related salary deductions like personal income tax
advances, social security and unemployment contributions
c.
Preparing payment orders
d.
Maintaining and updating mandatory employee labor documents