Statements that balance, straight from the bank data.
FAC-T reads your bank statements, categorises the transactions, and produces a full set of IFRS annual financial statements — with the trial balance, ledger and VAT201 behind them.
Statement of Financial Position
as at 28 February 2026
| Assets | R |
| Cash and cash equivalents | 145 200 |
| Trade receivables | 218 750 |
| Inventory | 96 450 |
| Property, plant and equipment | 432 000 |
| Total assets | 892 400 |
| Equity and liabilities | |
| Share capital | 100 000 |
| Retained earnings | 421 600 |
| Trade payables | 183 300 |
| Long-term borrowings | 187 500 |
| Total equity and liabilities | 892 400 |
Balanced. Assets equal equity and liabilities.
Built for the year-end you actually do
Bank statements in
Upload the statements. Transactions are categorised against IFRS account types, and the engine learns from every correction you make — so the next client's fuel and salary payments are recognised without being told again.
The full set out
Statement of financial position, profit or loss, changes in equity and cash flows. Plus the working papers: journal, trial balance, general ledger and depreciation schedule.
VAT201, period by period
Allocate each transaction its VAT treatment — standard, capital, zero-rated, exempt or outside the system — and the VAT201 fills in by SARS field number. Add the cash invoices that never touched the bank.
Tax computation
Accounting profit reconciled to taxable income, with add-backs, capital allowances and the section 20 assessed loss restriction. Rates are held per year of assessment, so prior-year returns use prior-year rates.
Groups and foreign currency
Consolidate subsidiaries with non-controlling interest, goodwill and fair value adjustments. Record transactions in any currency and retranslate monetary items at the closing rate.
One login, many clients
Each client is its own company with its own books. Invite them as a viewer to see their numbers without being able to change them, and every change is recorded in an activity log.
How a year-end runs
Add the client
Create a company, set the financial year end and share capital.
Upload the statements
Bank statements, plus any receivables and payables listings you hold.
Review the categorisation
Anything the engine is unsure about is flagged. Your corrections train it.
Generate and check
Statements build with a balance check. If it doesn't balance, the diagnostics say where to look.
Where the judgement stays yours
FAC-T does the arithmetic and the assembly. It doesn't decide whether control exists, whether goodwill is impaired, or how a borderline supply should be treated for VAT.
Suggestions are shown as suggestions and flagged until you confirm them. Nothing is filed on an unreviewed guess.
Statements produced here should be reviewed by a qualified accountant before you rely on them. The tool is a preparer, not a signatory.
Interested? Opt in.
FAC-T is opening for free testing shortly. Leave your email and you'll get access for the trial period — in exchange for telling us what breaks and what's missing.