Frequently Asked Questions
Clear, detailed answers on accounting, tax, CIPC compliance and bookkeeping, drawn from the questions our clients ask most often.
What makes Funacol Accountants different from other accounting firms in South Africa?
Funacol operates as a single, integrated practice across Accounting, Tax, CIPC and Bookkeeping, so your business is never split across providers who don't communicate with one another. Every client is assigned a senior advisor who understands the full picture of their business, backed by cloud-based reporting so you always know where you stand.
Which industries and business sizes do you work with?
We work with sole proprietors, professional practices, owner-managed businesses and established private companies across industries including retail, professional services, construction, hospitality and property. Our service model scales with you, from a single set of monthly books to full multi-entity group reporting.
Do I need to meet with you in person, or can everything be handled remotely?
Almost all of our work can be handled securely online through our client portal, email and scheduled video calls, which means we serve clients across South Africa regardless of location. In-person meetings can always be arranged by appointment for clients who prefer a face-to-face discussion.
What tax services does Funacol Accountants provide?
Our tax division handles individual and company income tax returns, provisional tax calculations, VAT registration and submissions, PAYE and SDL compliance, tax clearance certificates, and representation in SARS disputes. We also provide proactive tax planning designed to structure your affairs efficiently within the law.
Can you help me become SARS compliant if I have outstanding returns?
Yes. We regularly assist clients with historical non-compliance by reviewing outstanding periods, submitting overdue returns, and negotiating payment arrangements or penalty remissions with SARS on your behalf. Our goal is always to bring you to a clean compliance status as efficiently as possible.
Do you handle VAT registration and VAT201 submissions?
Yes, we manage the full VAT lifecycle, from assessing whether voluntary or compulsory registration applies to your business, through to preparing and submitting your periodic VAT201 returns. We also review your VAT treatment regularly to reduce the risk of errors or SARS queries.
What happens if my business is selected for a SARS audit or verification?
If SARS selects your business for audit or verification, we manage all correspondence, compile the required supporting documentation, and represent you directly in discussions with SARS officials. Having Funacol handle the process reduces both the administrative burden and the risk of missteps that could extend the audit.
What is CIPC and why does my company need to stay compliant with it?
The Companies and Intellectual Property Commission (CIPC) is the statutory body responsible for registering and regulating companies in South Africa. Every registered company must file annual returns and keep its records current with CIPC to remain in good legal standing and avoid deregistration.
Can Funacol Accountants register a new company or business on my behalf?
Yes, we handle end-to-end company and business registrations, including Private Companies (Pty) Ltd, non-profit companies, and business name registrations, along with drafting founding documents such as the Memorandum of Incorporation and share certificates. We guide you through structure and shareholding decisions before we file.
What happens if I miss my CIPC annual return deadline?
Missed CIPC annual returns attract escalating penalties and, if left unresolved for an extended period, can result in your company being deregistered, which affects your bank accounts, contracts and legal standing. We can bring overdue returns up to date and, where needed, assist with reinstating a deregistered company.
What's the difference between bookkeeping and accounting?
Bookkeeping is the day-to-day recording of transactions such as invoices, receipts and bank entries, while accounting takes that recorded data and turns it into financial statements, analysis and strategic advice. At Funacol, the two functions work together seamlessly, so nothing gets lost in the handover between them.
Do you offer payroll processing and UIF or PAYE administration?
Yes, our bookkeeping division runs monthly payroll for clients of all sizes, including payslip generation, UIF and PAYE calculations, and submission of EMP201 and EMP501 returns to SARS. We also manage UIF declarations to the Department of Employment and Labour where required.
How often will I receive financial reports on my business?
Most clients receive monthly management accounts covering income, expenses and cash position, though we can adjust the reporting cadence to match your needs, from weekly dashboards to quarterly board packs. Reports are delivered through our secure client portal so you can access them whenever you need to.
What documents do I need to provide to get started with your bookkeeping service?
To get started, we typically request your bank statements, sales invoices, supplier invoices and receipts, and, where available, your most recent financial statements or trial balance. Our onboarding team will guide you through exactly what's needed based on your business structure and existing records.
How do I switch from my current accountant to Funacol Accountants?
Switching is straightforward: with your authorisation, we request your SARS eFiling access, CIPC records and prior financial statements directly from your previous accountant, so there is minimal disruption to your compliance. Most transitions are completed within a few weeks, and we handle the majority of the coordination on your behalf.
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