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Can a self-employed person get a home loan in South Africa?

 How to get a home loan when you are self-employed Can a self-employed person get a home loan in South Africa? The simple answer is yes. But the bank or the financial institute will have certain requirements that self-employed person has to meet.  These are similar to the rules that registered companies must follow. The moment you earn an extra income, the South African Revenue Service sees it as a business income and you are expected to have financial statements and pay taxes.  Before you apply for a home loan, first find out what amount you qualify. Determine exactly what the bank would need from you before you apply. This would speed up the process and the bank doesn't have to wait for outstanding documents that you probably don't have and still have to search for. If you're applying for a home loan as a self-employed person , then these tips can streamline the process and increase your chances of approval. These are the things to do before you apply for the home loan....

What bookkeeping courses you need to study to become a bookkeeper

In order to qualify as a bookkeeper you need to register to study a bookkeeping course at a college such as ICB(Institute of Certified Bookkeepers) or at a university such as Unisa(University of South Africa)
Bookkeeping student in class


In order to qualify as a bookkeeper you need to register for a bookkeeping course at an institute such as the ICB (Institute of Certified Bookkeepers) or at a university such as Unisa (University of South Africa)

There are many other colleges and universities that offer bookkeeping courses from a certificate to a higher diploma. With a certificate you become a qualified junior bookkeeper followed by a Senior Bookkeeper. When you obtain a diploma in bookkeeping studies you become a technical accountant and the next level from diploma is a higher diploma where you become financial accountant. This is the path you can follow when you study Financial Accounting with the ICB.

For more on the registered(compliant with the Department of Higher Education and Training) colleges and universities that you can study from, you can read my previous article that I have written.

For the purpose of this article number one of two posts, I will be focusing on the two top institutions, the ICB and Unisa, that offer bookkeeper courses in South Africa. These are the two most preferred institutions of higher learning, to do bookkeeping training courses with.

Here I will focus on the Unisa bookkeeping course, what it offers and the minimum requirements needed o enroll. The duration of this Unisa bookkeeping course is one year, and at the end of the course duration if you pass you will be awarded with a bookkeeper certificate. On the successful completion of this one year Unisa bookkeeping course you will be a qualified bookkeeper.


Admission requirements are: South African National Senior Certificate(with or without university exemption) or an equivalent NQF level 4 matriculation qualification. Accounting or mathematics at matriculation level is not required for the Course in Fundamental Accounting.
Students attending bookkeeping class


Basic admission requirements to enroll to study to be a bookkeeper at Unisa:

South African National Senior Certificate (with or without university exemption) or an equivalent NQF level 4 matriculation qualification. Accounting or mathematics at matriculation level is not required for the Course in Fundamental Accounting.

Here is how bookkeeping courses at Unisa( Short learning programs) are structured:

Introductory bookkeeping and reporting     


  • Content:

  • Study guide:

  • Introductory Bookkeeping and Reporting

  • The nature and function of accounting

  • The nature of accounting theory

  • The financial position

  • The financial result

  • The double-entry system

  • The accounting process

  • Processing accounting data

  • Adjustments

  • The closing-off procedure, determining of profit, and preparation of financial reports -


Intermediate bookkeeping and reporting

  • Content:

  • Study guide:

  • Intermediate Bookkeeping and Reporting

  • Cash and cash equivalents

  • Trade and other receivables

  • Inventory

  • Property, plant and equipment

  • Other non-current assets and financial instruments

  • Current liabilities

  • Non-current liabilities

  • The financial reports of a sole proprietorship

  • The financial reports of a company

  • Non-profit organisations

  • Incomplete records

  • Planning and control (cash budgets)


The objective of this course is to equip a student with bookkeeping and basic financial reporting skills applicable to the preparation of a full set of bookkeeping records and the financial reports of a sole proprietorship, company and non-profit organisation - statements of cash flows excluded.
Bookkeeping students at graduation ceremony

What will you able to do on a completion of this bookkeeping course?

The objective of this course is to equip a student with bookkeeping and basic financial reporting skills to prepare a full set of bookkeeping records, and the financial reports  of a sole proprietorship, company and non-profit organisation - statements of cash flows excluded.

After the successful completion of this course, you should be able to complete the books of prime entry from source documents, post journal entries to ledger(s), calculate and record adjustments, record closing entries, and prepare pre- and post adjustment trial balances. 

The calculation and recording of value-added tax, the preparation of bank reconciliation statements, the application of periodic and perpetual inventory systems, the preparation of debtors and creditors control accounts, and debtors and creditors ledgers are some of the skills that you will acquire. In terms of financial reporting you will also be able to prepare  financial reports from incomplete records. In addition, a student should be able to prepare cash budgets.

There are other colleges that offer bookkeeping courses but do your research before you enroll and make sure that you know what you're signing up for.

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