Annual Financial Statements and Tax Returns

Biz Facility now offers a unique service where we will compile a set of AFS (Annual Financial Statements) from input supplied by the client, using our attached template.

Annual Financial Statements Template

Right Click and select ‘Save Target/link As’


We will provide a draft set of financial statements that we will in consultation with the client, convert into final AFS for submission by the client to CIPC, SARS or their bankers.

Additionally if you require us to compile and submit your annual return, and/or tax return, please indicate as such and we will connect with you in this regard.


1. Annual Financial Statements (AFS)

AFS are required for all entities involved in a trade. This includes companies, close corporations, sole traders, partnerships and even trusts.
In preparing AFS, they need to comply with generally accepted accounting standards (GAAP) and if applicable, IFRS (International Financial Reporting Standards).

2. How does this service work?

  • By completing and submitting the online form below, we will generate your financial statements for sign-off, as well as your Income tax return (IT14) submitted to SARS if required.
  • A registered accountant / tax practitioner will then get in contact with you via your preferred method, to discuss the nature of the business and to determine what other documents, info needed, to start with the process.
  • We will attempt to work to your deadline, which is usually urgent!
  • We prepare Annual Financial statements and send a draft copy to you for approval
  • We will contact you regarding tax implications, general discussion of AFS.
  • If required, we offer electronic signature of the AFS – thus we operate nationally across Southern Africa.

3. Fees

  • Based on the info provided by the client, the price will be calculated. A pro-forma invoice reflecting the amount will then be e-mailed to you immediately.
  • Upon proof of payment being received we will start with the process immediately (turnaround time for AFS will be between 2 – 6 weeks).
  • This fee will be final, no additional cost (except in extreme cases which will be discussed with the client at the time) will be added or become payable.

4. Taxation

All entities involved in a trade , as well as Trusts, are required to prepare and submit a tax return at least annually, or if a provisional taxpayer, twice annually.
As a member of the SA Institute of Tax Practitioners, (SAITP) we maintain up-to-date knowledge of developments affecting tax planning and strategy, in order to optimise your tax position.
As part of the service, we will determine if the client qualifies for Small Business corporation tax, salary structures to members of the CC, allowable depreciation deductions etc.

5. How to submit data:

  • The client submits initial data via a number of alternative formats:


  1. Manual excel trial balance, as supplied by Bizfacility
  2. Pastel zipped file (emailed by Client to Error! Hyperlink reference not valid. )
  3. Any other accounting zipped file format.


  • Manual excel workbook supplied by Bizfacility.