Keep up the beat, let us do your financials and admin

Determine requirements and needs

First meeting with Medical Specialist
New practice set up
Existing practice renewal
Practice to manage own accounts or
Use of a bureau / outsourcing

Registrations

Board of Healthcare Funders (BHF)

All Medical Aids
Medical Aid contracts – selection advice and administration

Practice Entity

Determine which entity is most tax efficient for the Medical Specialist to run practice in

Human Resource Management

Recruiting Personnel

Experience based personality evaluation

Training of administrative personnel

Advise on Medical Software

Selecting suitable cost effective Software for specific practice / medical field

Evaluation of current Software

Support and training in Software

Structures | processes | systems

Assist with business plan

Streamlining day-to-day processes

Implementing of structures

Continuous evaluation and analysis of structures and processes

Adaptability in current market

Sustainability and profitability of practice

Financials

Assistance with applying and obtaining the best possible rates for monetary requirements from financial institutions

Funding advice for medical – and personal purposes

Monthly financial reports

Financial – and business advice

Quarterly meetings to discuss financial matters and cashflow projections

Equipment Lease Management

Admin equipment eg copier, printers/scanners, telephone systems, computers, etc – lease agreements

Limited IT Services

DMS-IT is an IT support company that specialises in providing support to business users. Every solution presented, is done so with the objective of creating a proactive, well-functioning business IT environment supporting business growth and development.

As part of the the Practice Management, DMS-IT include 3 devices on Basic support services.

Services include: (up to 3 devices)

Pro-Active Monitoring
System health scanning|
Anti-Virus
30 min remote support per device.

DMS-IT can also offer the full range of IT requirements that is available on request.

Drafting of Financial Statements for each financial year by registered CA(SA)

In terms of the Companies Act 71 of 2008, all companies need to compile annual financial statements in a recognised framework. We will ensure that your company’s annual financial statements are prepared in accordance with the requirements set out in the Companies Act 71 of 2008, and International Financial Reporting Standard for Small- and medium- sized Entities (IFRS for SME’s). These financial statements are drafted by a Chartered Accountant and Registered Auditor, who also serves as compiler for various other audit firms.

Monthly reconciliation of bank statements in accounting software

We obtain bank statements directly from the client’s bank and process these bank statements on a monthly basis

Preparation of Monthly Payroll

We prepare monthly payslips and forward these to management. We also take responsibility for the completion and submission monthly EMP201 returns, as well as bi-annual EMP501 reconciliations.

Registering of new Companies on CIPC

We obtain bank statements directly from the client’s bank and process these bank statements on a monthly basis

Submitting of annual CIPC returns

In terms of Companies Act regulations, all companies (including external companies) and close corporations are required by law to lodge their Annual Returns with CIPC within a certain period of time every year. The lodgement date will coincide with the company/close corporation’s month of registration. We do the annual return submissions on behalf of our clients.

SARS compliance

With the ever changing tax law and related Tax Administration Act, being SARS compliant can be a nightmare at the best of times. We assist our clients with all tax related registrations and submissions to ensure they remain tax compliant and never fear SARS’ proverbial knock at the door.

Auditing

The objective of an audit of financial statements is to express an audit opinion on whether the financial statements fairly present the financial position of auditees at financial year-end and the results of their operations for that financial year.

Corporate valuations

As part of a due diligence (for investment purposes for instance) or, in certain extreme situations relating to client legal matters, we perform Corporate valuations to establish the value of a company and it’s operations.

Due diligence studies

A Due diligence is a process of verification, investigation, or audit of a potential deal or investment opportunity to confirm all relevant facts and financial information. Our services also include due diligence studies when clients intend to purchase a business or make major investments in other companies.

Independent reviews

Our auditing services are not limited to a statutory report of audit findings, but also include limited independent reviews. An independent review is a limited assurance engagement where the practitioner performs primarily inquiry and analytical procedures to obtain sufficient appropriate evidence as the basis for a conclusion on the financial statements as a whole, expressed in accordance with the requirements of ISRE 2400 (Revised).