South Africa is a bubbling caldron of innovation, providing exciting promise in the landscape of startups. The startup industry is reshaping South Africa’s economy as entrepreneurs race to secure the plentiful opportunities that are just waiting to be discovered. For these innovators it is crucial to have the right accounting packages South Africa can offer them. With our team at SureBooks, innovators can rest assured that we will provide guidance for all their financial needs.
This landscape is mixed with opportunities and concurrent challenges, with the tech industry expecting to rise significantly by 2025. However, startups often face trying times with a lot of stress centred around scaling operations, maintaining investor interest, and simply managing their day-to-day finances.
This is where SureBooks comes in – the antidote to your startup’s financial struggles, offering you the support you need. We offer a range of accounting packages in South Africa to help reduce your experienced financial burden. We aim to streamline your finances, ensuring they comply with SARS’ tax regulations and providing you with insights to ensure you can take action before it’s too late. Look no further than SureBooks, your trusted accounting partner.
Accounting Packages South Africa: The Startup Landscape
Starting the lonely journey of establishing your very own start-up can be extremely challenging. Start-ups may feel like the never-ending hike up a mountain, with just small little checkpoints that help you to keep on going. South Africa has a thriving tech hub, as fintech growth is projected to rise from $4 billion to around $30 billion by the end of 2025.
This might instil fear, or motivation, depending on where you are on your start-up journey. However, running your start-up is hard work, considering you have to manage a team, maintain investors to achieve scaling, and ensure your brand’s name is held up high. Doing your finances and managing the accounts may sound as daunting as it does uninteresting, which is why we are here to help you.
At SureBooks, we offer a range of accounting packages that can help reduce the workload and stress that comes along with constantly looking at financial figures. If a start-up is trying to make funds to ensure scalability, there is no doubt that constantly looking at the numbers can start to feel more like a haunting than your job. Let us take some of the heavy load off your shoulders and follow along to see how SureBooks accounting packages can transform your financial management.
Accounting Packages South Africa: Our Tailored Packages
SureStart Package
For just R2 200 per month, SureBooks cover up to 100 transactions per month. As one of our entry-level accounting packages South Africa, this is the perfect place for startups to begin their accounting journey with us. Let us help manage all your transactions by ensuring your credit cards and bank statements are reconciled, with an additional Xero monthly health check. Moreover, we ensure weekly reconciliation and management using Receipt Bank. Ultimately, the Sure Start accounting package includes small business accountant guidance with consultations, ensuring that even at the beginning stages, your start-up’s financials are taken care of.
SureGrowth
The SureGrowth accounting package offers individuals up to 250 transactions per month for only R3300 per month. With this package, start-ups are guaranteed bank statements and credit card reconciliations. Moreover, the SureGrowth accounting package offers individuals the bonus of a monthly Xero health check. Accounts will also be paid weekly and managed efficiently with Receipt Bank. With this accounting package, start-ups are given the comfort of free consulting with a small accountant financial guidance.
SurePlus
The SurePlus accounting package offers start-ups even more financial support with more than 250 transactions included per month. This includes the reconciliation of received accounts, as well as credit card and bank statements. A Xero health check is also included in this package, along with effective VAT management ensuring all these taxes are managed swiftly. This package also allows for the maintenance of fixed asset registers. All payable accounts will be reconciled weekly, and management thereof will be done with Receipt Bank.
SurePay
SureBooks offers a full payroll suite for R500 for small businesses that covers leave monitoring, payslips, payroll reconciliation with SARS, as well as Xero integration. This is a more flexible package, as the R500 will cover up to five employees, but will cover extra employees for an extra R65 per month. Similarly, this package also will manage the weekly payroll for five employees, with an extra R85 per extra employee. The SurePay package, the ultimate starter pack for the starter business.
SureTaxes
The SureTaxes package is cantered around taxes, as it includes all-inclusive tax and compliance packages. Moreover, SureBooks accounting package will also do the compilation of financial statements and make provisions for the big tax return at the end of the financial year. This ensures that startups’ basic tax duties are maintained to a high standard- with SARS compliance – and removes the stress of managing taxes. Most importantly, this package also includes the submissions of annual tax returns to the CIPC, saving your small business time and money.
SureCFO
As part of our accounting packages in South Africa, this package provides businesses with a virtual CFO that offers professional strategic financial guidance. With weekly meetings to analyse and strategize the financial health of the startup, businesses also can be expected to participate in bi-weekly calls to facilitate a continuum of support. Start-ups also can expect to achieve extra insight through executive reporting and the added benefit of a personalised strategy which promotes maximum financial output. By having one’s own virtual CFO, start-ups are guaranteed valuable measurement and control.
Accounting Packages South Africa: Startups And Their Financial Risk
Startups may be exposed to many different types of financial risk. This could be a result of poor cash management, finding adequate funding from investors, short cash flow strategies, unexpected expenses, or overlooking tax compliance.
Poor cash flow management can impose negative consequences on a startup’s financial health. This can be a result of high overhead costs, lack of cash reserves, or insufficient revenue forecasting. As such, proper cash flow management helps ensure small businesses can cover its obligations by tracking the flow of money though the business, whilst forecasting future flows to ensure the business can cover its obligations. SureBooks can help startups with preventing this detrimental issue with proper cash flow management and forecasting. Proper management of cashflow ensures that any operational changes that need to occur – happen seamlessly.
Raising and managing capital is a crucial process that any startup or small business needs to achieve scalability. These businesses require meticulous financial management, as they aim to strike a balance between equity loss and necessary funding. Maintaining adequate levels of capital is crucial for a multitude of business operations, like product development or marketing. At SureBooks, we can help you manage funding and properly advise the sustainable allocation of financial resources. It is necessary to build relationships and find your very own ecosystem of businesses, which effectively lead to networking opportunities and funding. Let us take care of the books while you go brush shoulders with the high-end business executives.
Taxes can feel like the older sibling who has left to go to university – somehow you know they are there, but you rarely see them. It isn’t until you receive that SARS notification that you know your sibling is back for the weekend – and they usually mean only business. Most startups will encounter tax issues early on in their lifetime. Having SureBooks manage your taxes will help reduce the potential stress it may cause.
Some of SARS’ taxes include Income Tax, Value Added Tax (VAT), provisional tax, and other taxes directly related to businesses. Laws surrounding these taxes are intricate and subject to constant re-evaluation, so having an expert keep track of your startup’s taxes can significantly reduce potential penalties and implications with the law. Ultimately, small businesses often struggle with the conceptual understanding of the tax landscape in South Africa, especially if the business owner has little understanding of basic taxation principles.
This greatly underscores the need for tax consulting, which is included in various SureBooks accounting packages.
Accounting Packages South Africa: Why Proper Cash Flow Management Matters
The general management of capital and cash flow is absolutely essential for startups to thrive in a very competitive landscape. In South Africa, approximately 70-80% of small businesses do not make it past the first five years. In 2021, it was established that the top reason why start-ups failed was due to a lack of funding. SureBooks can offer you more than simple cash management, but we can also help you strategize and forecast appropriately, to give your business the lifeline it may need.
Besides lacking the capacity to fund critical business operations, poor cash flow can also damage relationships with suppliers and partners, as small businesses might struggle to meet financial obligations. This ultimately has a cascade effect as failure to maintain crucial business relations puts the financial books under even more strain. The lack of adequate cash reserves inhibit startups to seize market opportunities, further hindering a business’s expansive capacities. The market is already competitive, and time is money – any hindrance to participate in market opportunities can be detrimental to a business’s growth.
SureBooks accounting packages can help businesses thrive, as we provide expert cash flow management. We will provide regular financial reports, which subsequently enable startups to track the business’ cash exchange. As previously mentioned, financial forecasting can help businesses predict and avoid sticky financial situations. Forecasting makes this possible as businesses easily become aware of their financial deficits and can take further action to address these issues.
SureBooks can help manage and reconcile accounts, which helps ensure accurate cash flow tracking. Considering the importance of maintaining a good business rapport, SureBooks can reconcile and manage payable accounts to creditors while ensuring effective tracking of a startup’s debtors. Ultimately, this promotes harmony in business relationships and fosters an ecosystem of balanced business exchange.
With various packages like SureStart, SureGrowth, and SurePlus, startups can pick meticulously crafted services that align with their current financial management needs. By using SureBooks’ expert advice and consulting, startups can navigate the tricky landscape of finances and challenges that come with effective cash flow management.
Accounting Packages South Africa: Final Thoughts
Managing a startup is stressful enough, so help us help you remove the stress of managing your financial books. SureBooks is more than an accounting service, but a financial partner that wants you to have a successful business. We believe that our financial consulting can help you focus your time on what matters: running a successful business. With packages like SureStart, SurePay, and SureCFO, startups have access to a range of highly effective solutions tailored to your very own needs.
By partnering with us today, you are not just keeping your books in line – but you are ensuring your business maintains financial integrity. Let us take care of the numbers, so all your energy can go into making your dream come alive. Together, we will empower you to navigate South Africa’s dynamic business landscape. Leave the books alone. Visit our website today to learn more.
