An up to date, accurate accounting system that has been reconciled and balanced allows you to produce reports essential for checking SAR compliance. The most important reports to keep an eye on in relation to compliance are:
- Overdrawn Client Ledger Listing
- Office Accounts in Credit Listing
- Cheques outstanding for more than 6 months
- Inactive / Dormant Ledger Listing
All CBS & Sol-Est Clients have been given instruction on how to produce these reports within the Sol-Est accounting software. If you are using a different accounts package, you should be able to generate these reports easily, but if not, it is probably a good time to look at upgrading your system to Sol-Est.
It is vitally important to run these reports regularly to ensure your practice is always compliant and to identify errors quickly to enable immediate correction.
In our blog, you will find various step-by-step instructional posts on running and understanding these reports, and on how to correct any errors you may find.
CBS Ltd & Sol-Est customers can always contact us for on the spot analysis and advice. CBS Ltd customers will receive management reports every 2 months, and these include identification and advice on any compliance issues in the accounts.
If you feel that you need assistance with any of the issues raised, or you would like to avail of the specialist legal accounting services CBS Ltd can offer, click here to visit their website, fill out the contact form on our website or give us a call to find out how we can help your business.