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Company Workbook

Download our company workbook below which includes an income statement and balance sheet as well as tabs to assist you to complete your monthly bookkeeping.

This workbook is only suitable for companies that are not VAT registered and with a turnover less than R1mil per annum.

Download XLSX • 598KB

When it comes to completing the company tax return (ITR14) and the annual financial statements, which consist primarily of a Balance sheet and Income statement becomes very important. This is because your financial statements are reported to SARS in your ITR14 and are used as a starting point for your tax calculation. It is therefore critical they are correct, in order to ensure that your tax liability is accurate.

The Income Statement

This is merely a schedule or log of the annual revenue and expenses for your company. Always provide a description of your business’s expenses and group them into categories e.g. office stationery, entertainment, motor vehicle expenses etc.

Our Company Workbook, contains an Income and Expense template to help you categorise and keep track of your business’s expenses. This is a very detailed list of expenses and they may not all be relevant for your business.

If you are using HM Accounting to complete your annual financials and company tax return, we will process your data for you and thereafter compile both your financials and tax return.

The Balance Sheet

Here, what matters most is that a Balance Sheet must always balance. This simply means that the one half must equal the other. Or to be more exact:

Assets = Equity Plus Liabilities

If you are familiar with basic accounting rules, you would know of the ‘double entry’ system whereby every ‘Debit’ entry must have an equal and opposite, matching ‘Credit’. If you follow this premise, then the above formula will always hold true.

We have provided a Balance Sheet template in our handy Company Workbook to assist you.

Top tip:

A starting point to check your accounting entries is always the business’s bank statement. Work through the bank statement for each month and ensure every single transaction is recorded by way of a Debit and an equal and opposite Credit entry in your excel spreadsheet.

If you don’t have an accounting background, it would be advisable to engage the services of an accountant to compile your financial statements and submit your company tax return so you can be confident that they are 100% correct.


For assistance with company financials and tax return submissions Message HM Accounting on WhatsApp Join the HM Accounting Client Base, HM Accounting Book a Private Business Coaching Session with me! (Elevate yourself to Amplify your Revenue) Receive monthly business development love letters Read our blog: hmaccounting Take a look at our Digital Tools for Business Owners to elevate and support their businesses. DigitalTools Transform your relationship with money and embody your next level wealth!

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