We will do our best to fix any fault in this website as soon as reasonably practical after we find out about it. This is the limit of our responsibility and liability for any fault in the website. If the previous clause does not apply for any reason, our maximum liability to you for all claims for direct damages is R This limit applies whether a claim is based on contract, delict tort or any other legal cause of action.
We will never be responsible for any indirect or consequential damages or losses, even if we should have foreseen them. These may include any loss of profit, loss of goodwill, loss of use or damages related to lost or damaged data. We are not responsible for anyone else's website. General 7. The terms are the entire agreement between the parties on the subject. We may change or stop publishing this website without notice and will not be responsible for any consequences. We may change the terms by placing a notice on this website.
If you do not agree with the change, you must stop using this website or the changed terms will apply to you. If an administrator of this website signs a letter confirming any fact related to the website, that letter is conclusive proof of its contents.
These may include the version of the terms that apply to any dispute, or what content or functions the website had at a particular time or date. We do not ever waive give up our rights, even if we allow you any favour or extension of time, or we delay enforcing our rights against you.
Any term that is invalid, illegal or cannot be enforced must be regarded as deleted. The remaining terms continue as intended. South African law and conditions such as time and date govern the terms. Only the South African courts may decide any dispute about the terms. Privacy Policy 1. Collection We collect certain information: when you contact us on our website; from your web browser; from cookies we may send to your computer and from web beacons on our website to track how you use our website and to try and give you a personalised experience; and optional information, that you provide when you upload or download content from our website.
Use We may use your information: to send you send administrative messages and email updates to you regarding the website; for marketing purposes; targeted content in certain, specified instances. Disclosure We might disclose your information in the specific circumstances mentioned in this policy. Security Our hosting company will host your website in a secure server environment.
Your choices You can turn off cookies in your browser; or You can opt-out of marketing communications with us. Contact us You can contact us with privacy related questions at info auditpartners. Purpose of this policy We respect your privacy and take the protection of personal information very seriously.
Personal information: 8. Because the information has been disclosed in a public forum, it is no longer confidential and does not constitute Personal Information subject to protection under this policy. Acceptance of terms By using this website you are deemed to have read, understood, accepted, and agreed to be bound by these terms.
Collection Once you contact us on our website, you will no longer be anonymous to us as you will provide us with personal information. When you access our website we may send one or more cookies small text files containing a string of alphanumeric characters to your computer to collect certain usage information.
We use information gathered by cookies to improve the website. Please note that some of our business partners e. We have no access to or control over them. Information collected by any such cookie or widget is governed by the privacy policy of the company that created it, and not by us. We use Remarketing with Google Analytics to advertise online. Third-party vendors, including Google, show your ads on sites across the Internet. Lead Find and third-party vendors, including Google, use first-party cookies such as the Google Analytics cookie and third-party cookies such as the DoubleClick cookie together to inform, optimize, and serve ads based on someone's past visits to this website.
Any electronic image viewed as part of a web page including an ad banner can act as a web beacon. Our web beacons do not collect, gather, monitor or share any of your personal information. We merely use them to compile anonymous information about our website. By the end of the year, you should have an accrual for the total fee to be paid. Because utility bills are often based on usage, the service provider often does not provide an invoice until after the period is over and they can calculate the charge.
In this case, you need to make an estimate, usually based on past bills and expected usage, and post the expense and related accrued liability for that amount. For example, if your water bills for December, January and February were ,, , and ,, for March you could accrue ,, the average of the three previous months.
Many internet providers and telecoms do not provide their invoices until the first or second week of the next month. For example, for internet used in March , you might receive your invoice on 9 April In this case, the internet has been used in March, so it is a March expense and needs to be recorded in March, even without an invoice. If you have a fixed contract, the internet bill may be the same every month, or it may vary based on usage.
In either case, you must make your best estimate and record the expense and related accrued liability. Although salaries are usually paid out to all employees by the end of the month, the related payroll taxes PAYE, social security, pension are usually not paid until the next month for example in Kenya, these are due by the 9 th of the following month, in Rwanda by the 15 th.
At the end of each month, you need to calculate the amount due to the tax authority and record the expense and related accrual. These amounts should match exactly to the declarations you submit to the tax authorities.
So, how do we actually post accruals to our accounting system? Expense internet, utilities, audit Cr. Accrued liabilities. Accrued liabilities Cr. Expense internet, utilities, audit. Expenses should be recorded in the period in which the Company received the benefit of the services. If the audit fees are accrued for at year end before the services are performed, this is simply a budgeting accrual and does not reflect actual expenses incurred and an actual liability. Why not accrue for future legal or consulting fees?
You know these are going to be incurred. The audit fee is accrued for the relevant year and it can be apportioned for relevant year and since audit fee can be determined at the beginning of accounting year. No Account? Sign up. By signing in, you agree to our Terms of Use and Privacy Policy. Already have an account? Sign in.
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