Creations · South Africa
Separate the practice accounts from personal finances.
Bookkeeping, tax and reporting support for owner-managed professional practices.
What the work covers
Use this scope to identify what you need. Your proposal will confirm the services, records, reporting frequency and fees for your business.
- Practice income and expense reconciliations
- Debtor schedules and reporting on collections
- Owner loan, reimbursement and drawings schedules
- Financial reporting for the agreed period
- Tax-preparation support within the agreed engagement
What to prepare
Tell us which records are available and where there are gaps. We can then distinguish ongoing work from any initial catch-up.
- Business structure and registration details
- Billing and collection reports
- Bank statements and expense records
- Details of owner payments and the relevant agreements
Timing and responsibility
Timing depends on the records, approvals and work required. Tell us about any deadline at the start. The engagement should identify the person handling your work, the review responsibilities and any external specialist needed.
Know what the practice earns and what the owner takes
Collections, billed fees and owner withdrawals measure different things. Keep the billing record, bank receipts and amounts paid to owners separate so the accounts can explain each movement.
The treatment of an expense or withdrawal depends on the business structure and supporting facts. Review the records before drawing conclusions from the bank balance alone.
How the work progresses
- 01
Understand the workflow
Review the business records, systems and immediate requirements.
- 02
Define the assignment
Agree the deliverables, people responsible and fees.
- 03
Prepare and resolve
Work through the records and identify outstanding questions.
- 04
Review the outputs
Review the results and agree the next actions.
Questions before you start
Can the engagement cover selected tasks?
Yes. Agree which tasks stay with your team and which work Creations will handle, including document collection, preparation, review and approval.
What should we send with an initial enquiry?
Describe the business, the work required and the deadline. Identify the periods and systems involved. Arrange the appropriate document-sharing channel before providing confidential records.
Related services
Let’s define the next step.
Tell us what you need, what is outstanding and when it matters.