Real Estate Investor Magazine South Africa September/ October 2019 | Page 24

PROPERTY MANAGEMENT
Timely taxation &
billing management
The end of year reconciliation comes around far too
fast but there are tools you can use to minimise the fuss
W
hen it comes to managing the minutiae of proper-
ties there are few things as complex and daunting
as the end of year tax reconciliation. You have to
pull together all the paperwork, data, reports and receipts
to provide SARS with a comprehensive breakdown of your
spend and overheads. No matter how precise and rigorous
your paperwork, tax is always a time-consuming process
and time is the one thing that landlords and property own-
ers rarely have in abundance. This is one of the reasons why
sub-metering systems have become increasingly relevant in
the property management space over the past few years. If
you implement the right solution, you will have access to
detailed reports and analyses that can be used to gain in-
depth insights into business spend and costs.
“The Citiq Prepaid Meter Management System has been
designed to provide landlords and property owners with a
rich array of reporting tools,” says Michael Franze, Managing
Director, Citiq Prepaid. “These tools offer insight into
spend and usage across all the meters in the Citiq Prepaid
system which means that you can log in and instantly see
a snapshot of your business. This is incredibly useful for
your accountant and for you – your reports can be used to
provide an accurate assessment to SARS.”
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SEPTEMBER/OCTOBER 2019 SA Real Estate Investor Magazine
Investing into a sub-metering system that can deliver high
level insight and data management not only saves you time,
but minimises the admin. You don’t have to constantly micro-
manage the system and tenants always remain topped up
and in control of their electricity usage and spend. This also
ensures that all the energy that’s paid for is equally accounted
for – meter problems are spotted quickly which gives you
time to resolve them.
“It will provide you with proof into payments and greater
accuracy in your tax return,” says Mike Simmonds, CEO of
Account Keepers. “It also ensures that the amounts you
pay are fair and accurately assessed by the accountant
and by SARS. Personally, I think sub-metering solutions
are essential as they not only make it fair but this type of
reporting minimises admin, reduces error and improves
accuracy.”
Landlords and property owners benefit from the reliable,
accurate and timely accessibility of sub-metering reporting
as it cuts out the risk of human error and ensures that
the data provided for taxation purposes is accurate. Citiq
Prepaid’s Meter Management System provides all owners
and landlords with access to a detailed online reporting
system that allows for ongoing analytics and deeper control
while allowing for improved accuracy and management.