Year-end trial balance
Accounts are reviewed and adjusted to establish a reliable closing trial balance.
Year-end financial reporting
Annual financial statements prepared with care and control.
Turn the year’s accounting records into a coherent set of financial statements for owners, SARS, CIPC, lenders and other stakeholders.
How BeanWise helps
Reliable support, built around your business.
Annual financial statements summarise the performance and financial position of the entity and support important tax, compliance and commercial processes.
BeanWise prepares annual financial statements from the accounting records, resolves year-end adjustments and aligns the final figures with the company tax return and applicable reporting framework.
What is included
A complete, controlled process.
Accounting adjustments
Depreciation, accruals, provisions, loans, tax and other year-end matters are recorded.
Financial statements
The statement of financial position, performance, cash flows where applicable, changes in equity and notes are compiled.
Disclosure review
The financial statements are checked for the disclosures appropriate to the entity and reporting framework.
Tax alignment
The accounting result and tax calculation are reconciled before final submission.
Final reporting pack
Signed or approved statements and supporting schedules are organised for the entity’s records and stakeholders.
The business benefit
More than a compliance exercise.
✓
A consistent year-end process based on reconciled records.
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Financial statements suitable for the entity’s compliance and stakeholder needs.
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Clearer support for company income tax and CIPC-related obligations.
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Fewer delays caused by missing schedules and unresolved balance-sheet items.
Our process
- 1
Plan the year-end
We confirm the reporting period, framework, deadlines and information checklist.
- 2
Complete the records
Bookkeeping, reconciliations and outstanding year-end documents are finalised.
- 3
Draft and review
Adjustments and financial statements are prepared and discussed with management.
- 4
Finalise and align
The approved statements are completed and aligned with the related tax work.
Frequently asked questions
Clear answers before you get started.
Does every company need annual financial statements?
The exact reporting and assurance requirements depend on the entity, legislation, Public Interest Score, ownership and stakeholder needs. BeanWise can help assess the appropriate engagement.
What is the difference between compilation and Independent Review?
A compilation assists management in presenting financial information but provides no assurance. An Independent Review is a separate limited-assurance engagement performed by an eligible independent practitioner.
Can BeanWise prepare statements if another firm performs the review?
Yes. The compilation and Independent Review can be allocated to separate eligible practitioners to preserve independence.
Are annual financial statements included in monthly packages?
Compilation is included in the listed monthly packages, subject to the scope and the records being complete. Assurance engagements are separately assessed.
Related services
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