Private Sector Services

The right technology can give you invaluable insight into your business, help control your business and improve performance. Getting your IT right has never been so crucial. Our IT support team can offer a full range of IT solutions to use as and when you need them – saving you both time and money.

As a Finovo client, you will have exclusive access to an online portal that is designed to save you time, money and give you access to business critical documents 24/7. The My Finovo portal contains:

Whatever accounting software you use, we’ll be able to help you. Our staff and/or business partners know the majority of mainstream accounting packages.

They can also advise on all aspects of systems and integrating with other add on solutions.

Accounting

Where is your business heading? And how will you get there? Finovo advisers help answer those fundamental questions for a range of organisations.

We can do a great job preparing your accounting records, but getting the debits and credits recorded annually is not our main goal, our goal is to use them to make informed business and personal decisions, this is the added value that drives us forward

With our help you’ll be able to:

• See from your records exactly how profitable and stable your business is.
• Make good, solid plans for the year ahead.
• Decide how to finance things.
• Use the information for making the right business decisions.

Businesses may find themselves anywhere on the performance curve from experiencing exponential growth being stalled in their trajectory. All of them have the challenge of ensuring that their business is structured and positioned to gain the best advantage.

As business owners ourselves we feel your pain and can respond accordingly. We understand businesses like yours. We appreciate the drive that got you to your current position and we have ideas to help you move forward. Joining our group of empowered clients may be the next big step for your business.

These Services include:

• Acting as accounting officer for close corporations and companies
• Drafting of ifrs for smmes and ifrs compliant financial statements
• Financial information for banks and other institutions
• Monthly recording of transactions/bookkeeping
• Provision of temporary financial staff
• Reconstructive accounting services

Bookkeeping

Our flexible approach means we can visit your premises to process your work or set up remote access – whichever suits you best. Offering a cost effective and reliable system which removes the need for you to employ your own accounting staff.

Management accounts

We won’t just produce management accounts and reports, we’ll help you put these to good use. We’ll review the financial performance of the business with you, and we’ll answer your questions and advise you in plain dialogue.

You’ll be able to see how profitable and stable your business is, make good, solid plans and use the information for making the right business decisions.

Business planning

Good business planning is key if you want your business to thrive and grow. In conjunction with our partners we can help you map out the business plan you need to raise funds, improve management information, plan resources or evaluate projects. We also emphasise the importance of cashflow and other forecasting.

In order to rely on the accuracy of projections, reliable historic information must be available - the first step is to ensure this. Projection reports keep your finger right on the pulse, so you can solve potential issues before they arise. Cashflow forecasts can help you to plan for growth and stabilise your business to help make your future plans a reality. We can help prepare these and add our expertise to help your plans go smoothly.

Growth planning

Many business owners require help when growing a business, whether in business planning, improving the quality of their profits, sales growth, building a management team or help with growing pains. Our experience helping other business owners grow their businesses, could make a huge difference to the rate and growth of your business.

Business owner support

Being a business owner is often a lonely place to be. Having advisers that can act as a sounding board to discuss your worries, plans, or business challenges can be a huge help. We cannot emphasise enough that we are business owners ourselves, so we can not only offer you our financial experience, but also our commercial experience as well.

With hundreds of business owners as our clients, it’s likely that we would helped other owners tackle similar challenges to yours. Having this network of support will help you make better decisions and achieve your goals faster.

Whatever your business challenge, we can help.

Given the increasing complexities of individual and corporate tax legislation plus the severe penalties imposed on companies that fail to meet their tax obligations, tax compliance can no longer be treated as a low priority. It is now a critical business imperative that demands as much attention as any other business risk, if not more.

To manage your tax risks effectively, Finovo offers you a comprehensive outsourced solution. Complete with streamlined processes, accurate information systems and ongoing controls and management, anything less is high risk.

Direct taxes

Tax compliance

Getting your tax right has never been more important. Penalties are growing and sars is cracking down more and more. We’ll make sure your tax affairs are legal and accurate, right down to the last detail.

Tax Planning

How you structure your personal and company affairs can have a massive impact on the tax you pay. We’ll come up with a unique tax planning strategy that makes sure you pay the least amount of tax.

Company and Trust tax

You may have a family trust, other trading legal entities, whether you run a single company or a whole group we’ll make sure you can retain more profit or extract more value from your business.

Income tax

Whether you need a tax return completing or want to know how to maximise your allowance and reliefs from your earnings, we can help.

Capital Gains Tax (cgt)

If you own and sell valuable items you may need to pay Capital Gains Tax (cgt). This can often involve complex calculations. We’ll do the calculations for you or tell you if the asset is exempt.

Estate Duty

Don’t leave it all to the tax man! Minimise Tax on your estate by planning ahead. With our business partners we’ll show you how to ensure the tax man doesn’t get his hands a large chunk of your estate.

sars Tax Investigations

All enquiries by sars should be taken seriously. Finovo has dealt with tax investigations at all levels and know that the involvement of a specialist at the right time can be crucial.

Indirect taxes

Value Added Tax (vat)

It’s not just about vat returns

Need to argue that your product should be zero rated? Want help disputing an assessment? Or represent a specific business sector and want to challenge a vat rule? We’re the people to have in your corner.

Here’s just a few areas where we can help:

• vat registration – Ensure you register in time and through the right channels.
• Customs duties – Advice on setting up in such a way manage custom duties and vat on imports.
• vat disputes & appeals – Challenging unjustified vat assessments, negotiating settlements and representing you at sars.
• Planning & structuring vat transactions – Structuring transactions to avoid unnecessary vat and helping you deal with sars on issues.

For some reason the drafting of our last will and estate planning makes one think about our own mortality, and so we tend to put it off.

It is critical that one planned for the devolving of your estate. In planning the devolvement of your estate, you can prevent complications. Telling your parents, spouse or a friend your wishes simply won’t do. Dying without a will, or in legal terms intestate, automatically subject the estate to set rules ito the Intestate Succession Act 81/1987. This has major implications for both the deceased person as well as the family left behind.

Please contact us to discuss mandatory provisions and insights that applies to all persons to avoid future disputes:

Tel: 044 884 1190

Email: office@finovo.co.za

Serving as executor

Although it is commonly considered an honor, serving as an executor is a lot of work and often requires a great capacity for organization, attention to detail, meeting deadlines, and more. You may be tempted to name your favorite sibling or eldest child just to keep from hurting any feelings, but your family and heirs will not be well served if you choose your executor based on emotion rather than ability.

Business sale

Advice on selling a business, maximising value, preparing for sale and getting the right person to facilitate the sale and bring the buyer to you. They are all crucial to a successful sale.

Buying a business

Buying a business can help you boost your company profit, expand geographically or add new customers and products. With the help of our partners we can find the right fit for you.

Business valuation

Whether it’s an informal opinion or a full written report, either we or our business associates have extensive databases to compare notes on similar enterprises.

Strategic advice

If you are at a crossroads with your business, external advice can make it easier to decide which direction to go in. We can help with business planning & reviews, non-executive directorships and many other areas.

Payroll

Outsourcing payroll can save you a major headache and give you confidence by receiving a compliant, efficient and timely payroll service. Whether you have one employee or a hundred, you’ll find our payroll service flexible, accurate & affordable.

Company secretarial

Using our company secretarial service means you can be sure the paperwork and legals are all accurate. We do everything from company formations, director amendments, changes in name or year end, to share transfers or share restructuring.

Non-executive director

Many business owners don’t consider what a non-executive director (ned) can potentially offer to an owner managed growing business.

Finovo can provide non-executive director services that ensures you benefit from additional experience and knowledge within your management team but at a lower cost than employing a full time person. Non-executive directors can be both supportive but can also be there to provide external advice and challenge your plans.

IT Outsourcing

The right technology can give you invaluable insight into your business, help control your business and improve performance. Getting your IT right has never been so crucial. In conjunction with our business partners we can offer a full range of IT solutions to use as and when you need them – saving you both time and money.

Our services include online accounting software & support, hosted cloud systems, communications and revenue management.