When selecting from all the accounting services Cape Town has to offer, SureBooks is the one option that understands not only what a business’s needs are, but how those evolve alongside the business itself. This article will be moving through three stages of a business’s evolution. The beginning, growth stage, and the established stage, showing which of the SureBook’s packages are best suited to help foster growth and success in each respective phase.
These packages include either general comprehensive packages, or more specific services, such as payments and taxes. By the end of this article, you’ll be able to see exactly what makes SureBooks such a popular choice for small businesses owners.
Accounting Services Cape Town: Starting Small Businesses
So, you’ve just started a small business in Cape Town. It’s an exciting first few steps on the journey, and you’ve done plenty of planning and preparation to reach this point. The future is exciting and you’re wondering just how far you can grow this little venture of yours, already visualising the different directions you might take this venture. However, all of that being said, this can be one of the most challenging stages within a business, fraught with uncertainties and deeply demanding of a business owner’s time.
In a stage where any serious mistake might cripple a business and cause it to go under, an owner must be very dedicated to their business and have faith in its success despite the obstacles it will encounter.
Due to all of these factors, rendering one of the accounting services Cape Town has available for recently started small businesses can be a great idea. In particular, you may be interested in SureBook’s SureStart package, specifically designed to give new businesses a leg up in the competitive market. Starting at only R2200, and reconciling credit card and bank statements of one hundred or less transactions per month, the SureStart package is perfect for businesses with smaller budgets and operations.
It also includes a monthly health check on Xero, a piece of nifty accounting software that automates admin work from anywhere, anytime. Moreover, it lets one do weekly reconciliation and management using Receipt Bank. Finally, it includes a Small Business Accountant Financial Guidance, a great tool for any new business owner looking to intelligently plan out the financial future of their small (but hopefully growing) business.
Outside of a larger generalized package, owners of a recently started business might benefit from the SurePay service. Starting at a mere R500, this specialised package provides a host of payment related services—including leave monitoring, payslips and payroll reconciliation with SARS, all integrated into your Xero accounting books. This price includes a monthly payroll, but for an extra R100, it can be upgraded to a weekly payroll. As its designed for smaller businesses, the base rate includes services for up to five employees, but this can be increased by R65 per employee for a monthly payroll and R85 per employee for the weekly payroll.
By having all payments professionally handled, a business owner avoids the potential of payment issues with their employees, which can quickly sow salt on the growing grounds of one’s business.
Accounting Services Cape Town: Growing Medium-Sized Businesses
The hard work put into the starting phase of a small business eventually pays off as the business finds its groove and begins to establish itself more. Sufficient re-investment has allowed the business to refine and expand its operations, which in turn have allowed for even more investments, signifying a steady cycle of growth. It’s more than likely that there’s still some capital left over after these investments, which means that the proud business owner can confidently say their profits are growing.
However, the fact is that as a business’s operations and profits grow, so do its challenges. On top of the obstacles it faced in the beginning stages, larger operations will also translate directly into more logistics and staff to manage, more rules and regulations to abide by, and greater taxation to not only pay but keep track of and manage.
If an entrepreneur wants to maintain an upward trajectory of growth for their business and face the new and evolved challenges head on, they’d greatly benefit from a specialized accounting package designed for this stage of a business’s life. At the rate of R3300 per month, the SureGrowth package is specifically designed to help businesses in the growth stages.
To address this growth of operations, it allows for the reconciling of credit card and bank statements for two hundred and fifty transactions or less per month. In other regards, it’s similar to the SureStart package, including a monthly Xero health check, weekly Receipt Bank management and reconciliation, and Small Business Accountant Financial Guidance to help a business navigate this seminal period in the business’s evolution.
Business owners in the growth stage of their business might also find a lot of use in the SureTaxes package from SureBooks. For just R900 per month, this service is the ultimate all-inclusive solution to ensuring tax compliance. This is important in South Africa, as taxation rules and regulations are rather complex in our nation and subject to frequent change, requiring expert and insider knowledge to truly keep on top of.
This package includes a thorough compilation of all financial statements for tax purposes. It will make both provisional and final tax return calculations for you. Finally, it will also take the submission of annual returns to CIPC out of your hands, which is a blessing to anyone with the knowledge of how arduous this process can be. Other than being an incredible tool to help business owners save time and avoid tedious and slogging paperwork, tax compliance is absolutely critical for a small business in its growth phase.
The increased profits from a growing business will represent increased taxation— which if avoided or done incorrectly can result in hefty fines and penalties. For a business that’s just gotten off of the ground, getting hit with fines at this stage can quickly cause expenses to overwhelm income, resulting in a major setback if not total derailment of the business.
Accounting Services Cape Town: Establishing Larger Businesses
You’re reached a rewarding milestone for any entrepreneur: you’ve successfully started a business, seen it through a steady growth stage, and now finally you can make the claim that you’ve well established your business. At this stage, operations are substantial, your name is well known (at least locally) and it’s bringing you significant returns. For most business owners, the running of a larger and more established business is not something realistically done alone, instead, you’ll be dividing important managerial tasks among an assembly of trusted staff. Your role is purely one of oversight at this point, the running of the core business, or a combination of the two.
One of the most affordable and reliable ways to make this vision a reality is to invest in SureBook’s advanced SurePlus accounting package. At R4500 per month, this package is designed to help more established businesses with all their accounting basics. It allows for the reconciling of over two hundred and fifty credit card and bank statements. Reconcile accounts are receivable, with employees issuing their own invoices. Like the SureStart and SureGrowth packages, it includes a Xero monthly health check, and weekly reconciliation and management using Receipt Bank. However, it also ensures that all VAT allocations are done correctly, and maintains the fixed asset register too.
However, should you feel that your business is in the position that it would benefit from the investment of a more involved accounting package, you may be interested in SureBook’s flagship option: the SureCFO package. Starting at R6500 per month, this package is defined by a virtual CFO (Chief Financial Officer) that will meet with the business owner weekly and make bi-weekly calls. The role of this CFO is to deliver executive reporting to the business owner— clear, concise and informative reports on the financial health of the business to help the owner make informed and streamlined decisions regarding the operation of the business.
On top of this, the CFO will help set out clear and workable strategies for the business based on current trends both within and without the business, helping work towards sustainable growth. This CFO will also work to measure all economic activities, assets, and liabilities within the business. Based on those figures, the CFO will then work to maintain the reliability and accuracy of accounting information, prevent errors, and ensure adherence to any legal and regulatory requirements.
Overall, the virtual CFO package is the perfect way for any entrepreneur with a more established business to ensure that all of their accounting matters and financial affairs are in good hands. They’re also able to rely on the advice of an industry expert with knowledge of the internal workings of the financial world to help build viable strategies for the businesses future, helping ensure steady and sustainable growth.
Accounting Services Cape Town: Why Choose SureBooks?
Of all the accounting services Cape Town has available to a small business owner, why would one select a SureBooks package to manage their accounts and help their business grow?
Well first off, all of our accountants are accredited by SAICA and SAIPA, we’re also registered as tax practitioners at SARS, and our leadership has CIMA accreditation— so you can rest assured knowing it’s all legal and certified.
We’re also familiar with all the latest tech and software in the accounting and financial world, helping equip your business with all of the digital tools it needs to get rid of human error and streamline your books.
However, perhaps most of all, we’ve been at this for over two decades and we’ve been exactly where you are. Our leadership has firsthand experience in entrepreneurship, having built businesses themselves from the ground up, all the way to servicing big blue-chip companies. As a result, we understand the unique needs of a small business in South Africa, and how those needs evolve and change as it grows—always aiming to provide services that match these needs and drive it to the next level of growth.
Accounting Services Cape Town: Conclusion
From the shaky beginnings to the start of growth, to successful establishment, SureBooks provides the entrepreneurs of South Africa with the exact services they need to not only keep their businesses afloat but excel. Of all the accounting services Cape Town offers, some of the best include SureBook’s comprehensive packages like the SureStart, SureGrowth and SurePlus options– respectively designed to help businesses as they start up, as they achieve a measure of growth and expand their operations, and as they successfully stand as a larger business.
On top of these, SureBooks also includes more specified packages like the SurePay and SureTaxes and SureCFO packages, which take significant elements of a business’s financial operations and put them in capable and confident hands. Visit our website today to learn more.
