Winning Partnership

• Sage One Accounting
• Aurum Accounting
• Mumbi Legacy (Enroll)
  

Trust Accounting is an integral part of Trust Administration. It forms the core of good governance within a Trust. As required by the Trust Property Control Act 57 (1988), an Accounting Officer or Auditor has to be appointed and independent from the Trust itself.

A Trust does not necessarily have to be audited, however, Annual Financial Statements (AFS) need to be generated reflecting the financial position of the Trust.

Trust Accounting is therefore involved in the following primary duties:

1. Registration of Trust for Income Tax with SARS
2. Book-Keeping & Accounting Services – Specific to your Trust
3. Book Entries for Assets purchased into the Trusts
4. Tax Advice on Efficiencies and Movement of funds between Twin Trust Structures (TTS)
5. Compilation of Annual Financial Statements
6. Submission of Tax Returns Annually
7. Obtaining SARS Assessments
8. Financial Advice and Opinion where necessary

Mumbi Legacy has partnered with Sage One Accounting (Pastel) and Aurum Accounting to bring you this crucial function to your Trust.

Sage One Accounting (http://accounting.sageone.co.za) is the leading Online Accounting Software in South Africa. It offers convenient, simple and secure online platform for accounting. We have picked it for you due to the following benefits.

1. Automated Bank Feeds means that we shall never ask you for bank statements again. Sage One accounting links to your bank account and uploads the bank statements to the system without the need to get your bank statements.
2. Automated Bond Statement feeds – If you have access to your bond account, we can also link it with Sage One Accounting – No more requirement to get bond statements from your bank.
3. Management Accounts in 48 hours (or less) – No more need to wait for months in order to get your Financial Statements or Management Accounts. In less than 48 hours we shall provide you with Management Accounts for Bond Applications, Decision making, etc.
4. Ease of Access – You will have access to your Trust Books, anytime, any place! As long as you have access to Internet, we shall provide you with access to your Trust Accounts via Sage One Accounting System.
   You can also download the Sage One Accounting App on iPhone, Windows or Android platform and access your Trust Accounting books.

Aurum Accounting

Aurum Accounting (Pty) Ltd is an audit, accounting and business advisory company aimed at delivering value added services to the small and medium enterprise market. They provide the following services to Mumbi Legacy Trust Clients:

• Monthly processing on Sage One Accounting
• Preparation of monthly management accounts
• Monthly management meetings to discuss results if so required
• Assisting in financial statement interpretation
• Annual statutory preparation of financial statements and accounting officer’s duties

Costing

The cost per Trust on this offering shall be R249.50 pm per Trust. This will be effected through a Debit Order System from Mumbi Legacy (Pty) Ltd.

BANK DEBIT ORDER INSTRUCTION MUMBI  – Download this form, endorse it and email it to accounts@mumbi.org.za [sh_btn link=”https://www.mumbi.africa/wp-content/uploads/2015/11/BANK-DEBIT-ORDER-INSTRUCTION-MUMBI-LEGA.pdf” target=”_blank” shape=”squareRounded” style=”flat” size=”medium” color=”rgb(0, 188, 81)” bordercolor=”rgba(236, 227, 227, 0.07)” bordersize=”0″ fontcolor=”rgb(8, 0, 0)” enablehover=”enable” enableicon=”disable” iconbg=”flat” icon=” fa fa-glass”]Download Form Here[/sh_btn]

Enrollment Process

1. Download and Send a signed copy of the Debit Order Transaction form above.
2. Sign a Service Level Agreement (SLA) with Mumbi Legacy (Pty) Ltd – This is an outline of the minimum services that we shall provide you with. It gives you peace of mind to take us to account on delivery of quality and timeous service for your entity.
3. Resolution to Change Accounting Officer – We will need to change the Accounting Officer for your Trust with the Master of the High Court
4. Sign up with Mumbi Legacy Sage One Accounting profile – To upload your bank statements, we need you to sign in with our Sage One Accounting platform.

We hope to have you on board in the new financial year i.e. Starting from 1^st March 2016; once you have received the Financial Statements for the previous year from your current accounting officers.

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Fill in the form to Enroll Now. We shall get all the paperwork ready in no time!