Accounting & Payroll
Why Choose DSS
With ever increasing operational demands and competitive pressures on businesses the accounting and related administrative functions are often relegated in importance, often with substantial adverse implications that only arise later. Our clients need their valuable and limited time to be focused on growing and managing their business. DSS is able to assist clients achieve their business objectives and strategies by removing the burden of addressing their accounting needs.
We provide our diverse cliental, comprising individuals, businesses, and organizations, with professional accounting services, allowing them to manage their businesses efficiently and effectively and comply with their relevant regulatory responsibilities.
The Companies Act requires that all companies prepare financial statements and for those which are non-exempt or public companies these must be prepared in compliance with International Financial Reporting Standards (IFRS).
Botswana Unified Revenues Services (BURS) require taxpayers to maintain accounts that accurately and fully record their assets, income and expenditure and file regular returns and payments during the financial year.
At DSS, our team of experienced and professional accountants assist our clients to understand and manage their financial affairs and comply with regulations. To perform these functions, we utilise state-of-the-art cloud-based solutions. For accounting we use Xero, (https://www.xero.com/us/accounting-software/all-features/) a global leader in accounting software for small business that facilitates remote submission of supporting documents, integration with banks and allows clients to access their financial reports from their own desks. For payroll processing we employ PaySpace (https://www.payspace.com/about-us/) , the regional leader in cloud-native payroll and human capital management software solutions providing new, improved solutions to help businesses operate in the modern era where managers and employees have access to information at the touch of a button.
Key Service Areas Provided:
- Accounting and Financial Management: Utilising source documentation provided to us by our clients we are responsible for maintaining their accounting records allowing us to prepare accurate and timely financial statements, including income statements, balance sheets, and cash flow statements. These reports provide insight into the financial performance of the business and help stakeholders make informed decisions and form the basis for submissions to BURS.
- Compilation of IFRS compliant Financial Statements: Leveraging off our skills and experience and utilising internationally accredited software we compile IFRS complaint financial statements from source management accounting records.
- Payroll processing: We run client payrolls, from those of complex mining companies with stringent reporting requirements to start-up taking on their first employees. We can effect settlement from our trust account for maintenance of absolute confidentiality for executive payrolls and settlement of payroll creditors (including BURS, pensions funds, medical aids, loan deductions etc. or provide payment upload files for client processing.
At Your Service
Meet the Accounting & Payroll team that will help you navigate Botswana’s business landscape.
Kopanang Thekiso
Director
Ratanang Mozola
Manager
Director: Kopanang Thekiso
Manager: Ratanang Mozola
Ratanang Mozola leads the accounting and payroll services team supported by Keolebogile (KT) Leepile, Lebogang Rampape and consultants Elsa Crook and Annamarie van der Gryp.
Frequently Asked Questions
What accounting services can DSS provide?
We provide a range of services, including bookkeeping, financial statement preparation in accordance with International Financial Reporting Standards (IFRS) for SMEs, budgeting and forecasting, payroll processing, preparation of BURS tax returns and submissions (in close co-operation with our tax compliance team), and management advisory services – helping our clients maintain accurate financial records, comply with accounting and taxation requirements, and make informed financial decisions.
How can DSS help with bookkeeping?
We assist clients with bookkeeping – including recording of all transactions, reconciling bank, debtors and creditors accounts, and maintaining all financial records utilising the double entry accounting standard. We prepare management accounts from these financial records and reconciliations to allow our clients to understand and manage the financial performance of their business.
What is the difference between bookkeeping and compilation of financial statements?
Bookkeeping results in management accounts which are detailed and applicable for managing their business on a day-to-day basis. Financial Statements are required by to be generated for use by banks, and submitted to regulators in support of historic financial performance utilising prescribed reporting standards. We utilise client accounting records to compile financial statements, including balance sheets, income statements, and cash flow statements, that are presented in accordance with generally accepted accounting principles (GAAP) or International Financial Reporting Standards (IFRS) as appropriate for our client’s compliance with the regulations appropriate to them.
What types of accounting advisory services are offered by DSS?
DSS offers management accounting advisory services such as financial analysis, performance evaluation, budgeting and forecasting, cost analysis, and profit optimization, helping our clients interpret financial data, identify opportunities for improvement, and develop strategic financial plans to achieve their business goals.
What does payroll processing comprise?
Payroll processing commences with the determination of the gross remuneration due to employees (including overtime, short time, bonuses, benefits and allowances), then progresses to the calculating of taxes deductable by the employer on such remuneration, and finally determination of the net remuneration, to the employee, less any payments to be made on their behalf to third parties such as pensions funds contributions, union levies, medical aid subscriptions, loan deductions and premium payments to insurance companies. Effective and efficient payroll processing ensures compliance with employment contracts, labour and tax regulations, and detailed reporting for management accounting. For those clients seeking ultimate confidentiality DSS also provides settlement services through our trust account so only gross funding amounts for the entire payroll flow from the client bank account.
What additional financial reporting requirements are imposed on non-exempt companies?
The Companies Act requires a non-exempt company to have an audit of its annual financial statements which must be compiled in accordance with International Financial Reporting Standards (for SMEs). In addition, the Registrar has issued a directive that all non-exempt companies must file their audited annual financial statements with CIPA through their digital OBRS platform ( Online Business Registration System).
Empowering Your Business Success: DSS Delivers Professional Accounting Services to Streamline Operations and Ensure Compliance.