SKY TAX NEW FEATURES - You can tell which of your clients are auto assessed - for your whole client base in minutes! Download provisional tax receipts and provisional statement of account. Know where you stand with each tax client! Guarantee your communications with our digital signature to your clients! Guarantee that you receive all your income tax notices from SARS!
Accfin’s tax programs have been instrumental in innovating the tax industry in South Africa. Sky Tax revolutionises the way firms manage a client’s tax information and processes tax returns. The program has been built using best of breed practice and is used by many South African accounting firms from very small to very large.
Sky Tax is a system designed to manage and process the interactions between a Tax Practitioner, their tax clients and SARS. This ultimate Tax Management system is designed to help in the running of a tax department, managing, tracking and controlling each aspect of a client’s tax affairs, making sure you as a Tax Practitioner meet your tax return deadlines to SARS and most important of all, reducing risk of exposure to liability.
Sky Tax interacts directly with the SARS eFiling server on a bulk basis instead of on a one to one basis saving a huge amount of time. Sky Tax handles ITR12, ITR12 Trusts and the ITR14.
DAILY ROUTINES Sky Tax is designed to work around the movement and flow of electronic tax documentation in the accountants tax office. A tax event triggers a transaction in the system and updates the ledgers accordingly:
• Tax Return Submission • Tax Return Assessment • Tax Return Objection • Correspondance and Notices from SARS • Communication with clients
Sky Tax works on the basis that when a transaction is processed 4 or 5 manual procedures are automatically taken care of by the system. I.e. Real time updating of ledgers, updating various management reporting facilities, processing invoices and sending letters/email to clients.
The system uses a sophisticated mail merge options allowing database information to be merged into a letter or email, making sure that clients are kept informed as to what their tax status is.
TAX RETURN METHODOLGY Over the years Accfin has fine-tuned its tax return submission methodology. A Tax Practice who makes use of this methodology will save a guaranteed minimum of 40 minutes per taxpayer per year. This equates to more than R175,000 in time for each 1000 taxpayers in a tax practice. This saving more than pays for the licence fees of a tax practice many times over.
Sky Tax’s tax calculator prepares a tax return from scratch on your internal company network, in your private cloud or in a public cloud and performs a tax calculation and eFiles the return straight into the SARS eFiling system. Sky Tax has powerful systems to track and control all aspects of tax return production reducing risk.
What is so unique about Sky Tax is that many people situated anywhere within the tax practitioner’s office or on the outside via the internet can have a hand in the tax return process – e.g. - one person prepares the data - passes the return on to the manager for review and editing - passes the return to the partner for review and consultation with the client - signature and formalities take place - the tax return is eFiled - the assessment is retrieved and loaded automatically and checked
All the above processes happen in a totally paperless way simply by moving the electronic return around the office. The above processes all happen internally without having to go onto the SARS eFiling website at all saving many hours as the preparers and reviewers don’t have to open an Adobe or Flash form at all as opposed to opening it at least 5 times during the tax return process if you are using the SARS eFiling website.
There are many unique features in Sky Tax tax return production like:- - Download of IRP5's from SARS into the program - Multiple Tax years tables in one program – keeps the history of all tax returns submitted - Statement of assets and capital reconciliation – major risk control feature - Calculates medical credits correctly for each year - Presentation report pack for clients - Unlimited motor vehicles – travel allowance and company owned vehicle - Capital gains and lump sums The system handles detailed management control over the tax return submission process.
PROVISIONAL TAX Sky Tax handles the provisional tax process in bulk as follows:- • Retrieve IRP6 from Sars eFiling • Produce difference report – SARS data Vs. your own data • Prepare IRP6 Forms and obtain client confirmation by letters or email • File IRP6 Forms in bulk • Automatic invoicing
Masters and Provisional Tax File - see this video - 10 minutes