If you’re looking for the best accounting services Cape Town has to offer, SureBooks has got you covered. Outsourced accountants are highly beneficial for individuals and small businesses alike, helping them to manage their finances as well as perform various important duties and roles.
Here at SureBooks, we pride ourselves in providing stellar accounting services tailored to your needs. Whether you own a small business or are a broker, investing in the best accounting services Cape Town has available is a great step to launch your success. In this quick read, we’ll be breaking down what accounting services are and why they are so important.
What Are Accounting Services?
Before we unpack the value of accounting services, it’s important to understand what accounting services are and how they work. Busy business leaders often don’t have the time or capacity required to manage their own finances effectively, which is why they seek out accounting services. Accounting services from reliable firms, like SureBooks, are there to provide you with ongoing, short-term or project-based work that can help your business flourish financially.
Outsourced accountants work on behalf of small businesses individuals by performing a wide variety of accounting services, like SARS registrations, cloud based accounting and many more. No matter the type of startup you may run, accounting services are the backbone of managing any business, especially small businesses. Accounting service providers are capable of running the financial side of your business smoothly to ensure that you get more cash flow, value and time out of your business.
Accounting Services Cape Town: Responsibilities Of Outsourced Accountants
As previously mentioned, accounting services entail a plethora of different tasks and responsibilities necessary to running a business successfully. From managing payroll administration to ensuring tax compliance, the work of outsourced accountants span far and wide. To gain a better understanding of the accounting services Cape Town has to offer and the various tasks they perform, here’s a quick breakdown of some of the key responsibilities they have in a business:
Financial Advising
One of the most valuable services that outsourced accountants provide for small businesses and individuals is financial advising. By helping the leadership team make sense of the numbers related to the business, owners can understand and respond to KPI shifts and make better informed decisions for the financial success of the company. With a new set of eyes, you can gain different perspectives for how to better manage your money and grow the business.
Additionally, investing in the accounting services Cape Town has available means you’ll be gaining financial forecasts and critical insight into your budgeting process. The more you know about your company’s financial health, performance and trends, the better you’re able to make informed decisions about growing the business.
Fixing Past Issues
As accounting and bookkeeping are especially meticulous, it can be easy to make simple mistakes if you don’t have enough time or experience. If your business has any accounting record issues, it can significantly affect the growth of your business and land you in some serious financial trouble. One of the best ways to avoid or rectify flawed bookkeeping is to hire an outsourced accountant.
Not only can accounting consultants avoid bookkeeping mistakes while managing your financial records, but they can also dig into your business’s records to unwind past mistakes. By cleaning up your books and fixing past errors, you can ensure accurate financial reporting and better pave the way for future growth.
Handling Everyday Work
Taking it back to the basics, accounting consultants are perfect for handling your day-to-do bookkeeping tasks and recording financial transactions. This includes a variety of routine tasks such as preparing financial statements, sending and following up on invoices, processing payroll and managing vendor contracts. If you don’t have the time to record your own finances or don’t have accounting experience, the accounting services Cape Town has to offer is the way to go.
Hiring an outsourced accountant is also highly beneficial for companies that have lost their bookkeeper or whose existing accounting team cannot handle the expanding needs of the company. At SureBooks, you can choose an accounting service plan that works for you, whether you require consistent, hands-on assistance or as little as 100 transactions per month.
SARS Registration Assistance
One of the first things you’ll need to do when starting your own business is register yourself and your business as taxpayers. This way, you can pay all tax owed by you or your business and also receive benefits. Registering for SARS is no simple feat, especially if you’ve never run a business before, which is why it helps to outsource accounting services. An accounting consultant can streamline the SARS registration process for you, making it easier for you to register your business and focus more time and energy on running your business.
The sooner you start your tax registration, the better. SARS requires all businesses to register for tax within 60 days of your company generating revenue.
Aiding With Special Projects
If you’re currently dealing with a once-off project but don’t have the resources to handle the financial side of things, look no further than accounting services. Whether you need help compiling national regulatory reports or internal and external audits, accounting consultants are there to ensure that your finances are perfectly in check. There are several instances where small businesses may need to bring on outsourced accountants for projects, whether it be a staffing size issue or a lack of expertise.
Improving Month-End Close
While the month-end close of a business may pose some challenges to new business owners, ensuring that the monthly close processes are properly done is essential. If your month-end close is done inefficiently, this can pose even greater challenges for your business, which is why it’s helpful to outsource accounting services. With an outsourced accountant, you can have your month-end processes fixed and formalised.
Additionally, accountants can also create accounting policy manuals that will streamline your month-end and year-end procedures. This way, you can complete these processes with accuracy and ease. One size does not fit all when it comes to accounting, which is why having a formal set of procedures tailored to your business’s needs is highly valuable.
Ensuring CIPC Compliance
If you’ve recently started your own business or have been running your own company for years, you’ll know that CIPC (Companies And Intellectual Property Commission) compliance is crucial. As stipulated in the South African companies act, all businesses need to ensure that their records are maintained and they can present their updated MOI, known also as the Memorandum of Incorporation. This document sets out the rights, responsibilities and duties of directors, shareholders and other parties involved in the company.
Updating your MOI and making alterations can be time consuming, especially if you’re running your own business. With an accounting consultant, you can ensure that your annual returns, accounting records and company records are professionally maintained and up to date for CIPC compliance.
Accounting Services Cape Town: How To Choose A Firm
While investing in outsourced accounting services can significantly grow your business, it is crucial that you take your time finding a firm that is accredited, experienced and aligned with your business structure. If you want to ensure that the future functioning of your business is in good hands, here are a few points to consider when choosing an accounting firm:
Reviews & Reputation:
The first step you should take when looking for an accounting consultancy is to properly research the firm you’re interested in hiring. A great way to do this is by reading the online reviews of the firm left by previous clients. This way, you can evaluate the quality of the services they provide and gauge their market reputation.
Thankfully, our past clients have nothing but good things to say about us at SureBooks. From just a quick glance at our client testimonials, you’ll know that our stellar reputation precedes us.
Qualifications:
While it may seem financially fruitful to invest in the cheapest accounting firm you find, you should always ensure that the agency you’re working with has the proper qualifications to assist your business. A proper accounting consultancy should employ professionals that have experience and are qualified in the necessary fields. If you hire an inexperienced accountant to manage your finances, it could greatly hinder the success of your business and negatively affect your financial health.
At SureBooks, we guarantee that our team of accountants are accredited, highly experienced and qualified to handle the financial side of your business.
Technical Support & Innovation:
As accounting technology has continued to advance and transform the finance industry, more and more firms are implementing state-of-the-art accounting software to keep up with the times. When looking for an accounting firm to hire, you’ll want to choose a consultancy that is up to date with the latest accounting technology so that you can benefit from operational efficiency and the convenience of automated processes.
Keeping up with the latest online software is essential to the growth of your business, which is why SureBooks offers streamlined, automated and remote accounting services through cloud-based technology.
Flexibility:
If you’re a small business owner, it is especially important that you choose an accounting firm that can adapt to the needs of your business and offer solutions that suit its requirements. Unlike large corporations, small businesses have unique needs and limited resources, which is why small businesses accountants are best suited for enterprises.
Here at SureBooks, our leadership understands what entrepreneurs need, making us the perfect choice for individuals and small businesses. We provide you with expert advice that is customised to the needs of your business.
Choose SureBooks Today: The Best Accounting Services Cape Town Has To Offer
Whether you’re an individual entrepreneur or a small business owner, investing in accounting services is well worth your money. From the plethora of accounting tasks and responsibilities to personalised, flexible approaches that suit your needs, accounting services offer an abundance of value to the businesses they work for.
To get your small business on the right trajectory to success, look no further than SureBooks for some of the most reliable accounting services Cape Town has available. We go above and beyond to actively advise you on how to unlock cashflow, offer sound advice and offer real-time reporting. For a free consultation, simply reach out to us online or drop us an email at hello@surebooks.co.za.
