Books that agree with the bank

What it does

Accounting & Invoicing

Most small and mid-sized Tanzanian companies do not have an accounting problem, they have a reconciliation problem: invoices raised in one place, receipts in another, VAT worked out at the end of the month from a pile of documents. Getting the entries right where they happen makes the return a printout rather than a project.

• Sales invoicing with VAT, exemptions and zero-rated supplies
• TRA fiscal receipt integration at the point of invoicing
• Customer statements, ageing and receivables follow-up
• Supplier invoices, payments and payables ageing
• Withholding tax on purchases and on rent, computed and reported
• Multi-currency with realised and unrealised exchange differences
• Cash book, petty cash and bank reconciliation
• Chart of accounts, journals and period close
• Fixed asset register with depreciation
• Departmental and project costing
• Trial balance, income statement, balance sheet and cash flow

Tanzania

Tanzanian tax handled where it happens

• VAT returns — output and input tax accumulated from live documents, so the return reconciles to the ledger.
• TRA fiscal receipts — issued at invoicing rather than duplicated on a separate device.
• Withholding tax — computed at the correct rate by supplier category, with certificates produced.
• PAYE, NSSF, WCF and SDL — posted from payroll into the ledger without rekeying.
• Multi-currency — dollar invoicing with shilling settlement, and the exchange difference recorded properly.