The South African Companies Act (Companies Act, 2008 (Act No. 71 of 2008) stipulates that an accurate set of books based on original hard-copy documentation such as sales invoices, stock purchases, expenses and bank accounts must be kept and maintained at the registered address of a company. Every line entered in these books should be supported by documentary evidence.

Accurate books mean correct VAT, provisional tax and income tax declarations to SARS. Your books are also a useful snapshot of the current financial status of your business.

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