Olympus Business Services

Olympus Business Services provides outsourced accounting, bookkeeping and tax services to small, medium and established businesses in South Africa and beyond. We believe that business owners should have enough time to run their businesses without worrying about accounting, tax, payroll and secretarial functions of the business. That is when we come in to assist in setting up the full accounting functions of your enterprises. We pride ourselves as one of the leading professionals in the provision of tax, accounting and business consultancy services.

What makes Olympus Business Services different from other accounting practices is its approach to the client’s problems and its undying passion for providing quality professional services. We are a young and growing business that is driven by the need to satisfy the South African market which has been dominated by the big players in the industry. The administrative and management functions as well as the technical knowledge and expertise that is derived from the key management personnel makes it possible for the company to compete with established enterprises in the industry.

Our business is built upon the four business fundamentals as follows:

Our Strategy

Olympus Business Services is committed to uphold the following business principles:

• Ensuring that our clients remain our business partners through continuous improvement in our customer relations and satisfaction.
• Implementation of mutually accepted contracts  by providing accurate and relevant information about our services to all our valued customers.
• Exceed our client’s expectations while satisfying their specific needs.
• Delivery of high quality products and services to all our valued business partners.

Our Mission

We will strive to be South Africa’s leader in the provision and delivery of outsourced accounting and tax services by offering a diversified range of accounting and tax solutions. We are committed to provide a wide range of cost effective services to our customers.

Our Vision

Our vision is to be the first choice provider of outsourced accounting and tax services to businesses in South Africa.

Our Values

Our values are based on the following:

• To always conduct business with integrity and respect for our clients.
• To enhance the positive image of our company at all times.
• To provide quality customer care.
• To be cognisant of the changes in Tax legislation and IFRS

 Everyone at Olympus Business Services:

• is customer focused.
• Has a passion for service excellence.
• Is a valuable asset to the business.
• Always conduct themselves with professionalism and integrity.
• Excels in quality service delivery.

OUR SERVICES

Olympus Business Services delivers a wide range of accounting and tax services solutions that are innovative and in line with continuous changes in legislation. Our comprehensive skills and expertise within the company structures enable us to supply and provide a service that is second to none, a wide spectrum of industries. Our approach and methodology is based on the value added principle to the traditional accounting approach. The value- added business service to our clients addresses the business risks and provide proactive solutions. We assure to help our clients to enhance the credibility of their financial reporting by offering the following services:

ACCOUNTING AND BOOKKEEPING (ON SAGE PASTEL EXPRESS V14)

• Prepare monthly management accounts.
• Compute variance analysis reports on budgeted costs and actual costs.
• Processing customers and suppliers invoices.                                                                                                                                  
• Capturing cash book transactions and preparing monthly bank reconciliation statements.
• Manage your debtors and creditors in terms of collections and payments. 
• Compute variance analysis reports on budgeted and actual costs.
• Analyse the management and financial statements and report on financial risks and exposure on your business.
• Keeping the asset register for your business, capitalizing expenditure on new projects, componentization of assets, determining useful life and residual values of assets and balance all to the General Ledger.
• Interpret the company's financial results to management and recommend improvement activities
• Preparation of year-end audit files and attends to external auditors queries and requests to ensure that the audit process is conducted smoothly.

PAYROLL FUNCTION (SAGE PASTEL PAYROLL)

• Payroll administration and reporting.
• Monthly preparation and submission of EMP201  
• EMP501, PAYE reconciliations and submission to SARS
• Preparing IRP5’s for your employees.
• Updating employees’ leave records on a monthly basis.

TAX CONSULTING SERVICES

 We are here to assist you with all your tax issues and problems. We offer the following services:

• Computation of income tax for companies and individuals. 
• Prepare and submit income tax returns for the company.
• Prepare and submit your VAT 201 Returns to SARS.
• Follow-up on Vat refunds due to your business from SARS.
• Submitting tax objections to SARS on your behalf.
• Transfer pricing
• Exchange control compliance
• International tax
• General Tax compliance
• Capital gains tax
• Conduct registration of Income Tax, Vat, SDL and UIF.

SECRETARIAL SERVICES

• New Company registrations
• Submit annual returns.
• Change of company directors.
• All changes required to details of companies, registered address, auditors etc.
• Keeping and updating the company’s share register.
• Preparing and filing minutes of company meetings
• Preparing all directors and shareholders resolutions.
• Advising on corporate governance with reference to the New Companies Act.

CONSULTANCY SERVICES

We carry out a comprehensive package of consultancy services which are tailor-made to suit the different needs of our customers. We assist businesses with the following:

• Carrying out a due diligence process in setting up the accounting system and all internal control procedures and systems of the business.
• Writing up comprehensive business plans that will suit the requirements of your loan application to any financial institution.
• Company registrations
• Providing business advice to small, medium and established businesses.

OUR APPROACH

Our approach in solving the client’s problems or risks is summarised as follows:

Phase 1 – Understanding the client’s business:

In this phase we gather information that enables us to have a thorough understanding of the client’s business, including the vision, mission, value chain, strategies, budgets and detailed processes.

Phase 2 – Fact gathering about the problem:

Here we gather facts regarding the problem that the client is faced with. Understanding the root causes underlying the problem enables us to provide an effective solution to the real source of the problem.

Phase 3 – Analysis of the problem:

This phase requires extensive usage of formulas, graphs, charts, probing questions, detailed examination and evaluation of facts in order to understand the impact of the problem on the business and other processes that may be affected, directly or indirectly.

Phase 4 – Recommendations:

Our recommendation is not just the opposite statement of the problem identified. It is a detailed breakdown of the steps required to resolve the problem, including time estimates, resources and expertise required to resolve the problem, as well as the benefits to be derived from implementing these recommendations. The client is fully engaged in the process of devising the recommendation.

Providing Cost Effective Solutions

• Providing technical solutions and sound advice to minimise our client’s risk.
• Maintaining contact with our Controlling bodies to ensure that our client’s needs are timely met and in a cost effective manner.
•  Supporting and implementing affirmative action principles and providing an environment for achieving personal excellence and growth for all our employees.