SureBooks accounting services for small businesses in South Africa can go a long way toward securing a business’s success, but there are ways to multiply this effectiveness even further. Indeed, a good set of accounting services paired with smart financial habits such as diligent cost tracking, proper staff training, and software integration can yield spectacular results.
This article will provide a clear roadmap to success for small businesses by briefly introducing each of the six SureBooks accounting service packages- SureStart, SureGrowth, SurePlus, SurePay, SureTaxes and SureCFO. After outlining each package’s features, the article will provide relevant advice or a series of tips that can help maximise the effectiveness of that service, giving customers the most bang for their buck.
By utilising these two resources, small businesses can manage their accounting more efficiently, allowing owners to dedicate more attention to core business operations.
SureBooks, a trusted South African provider of outsourced accounting services, brings this article to you. Our business represents decades of experience from professionals who have themselves worked to build businesses from the ground up, helping us create affordable services relevant to small businesses in every stage of their growth.
Accounting Services For Small Business South Africa: Maximising SureStart
Overview
The SureBooks SureStart accounting service package offers comprehensive solutions to support entrepreneurs with their accounting requirements as they launch their businesses. Priced at R2200 per month, this package is designed to be cost-effective and accessible for new ventures.
In turn, it helps by reconciling up to one hundred credit card or bank statements per month, includes a monthly Xero accounting software health check on the business, performs weekly reconciliations and pay management using Receipt Bank and includes invaluable Small Business Accountant Financial Guidance. These measures enable small business owners to start their businesses with confidence in a solid accounting foundation.
Maximising Benefits
To maximise the benefits of the SureStart package, it is helpful to use Xero’s features comprehensively. Regular monthly health checks in Xero can function as informal audits, allowing users to review their records, identify overdue invoices, and observe business trends at an early stage.
You can also use the Zero mobile app to keep track of cash flow from the convenience of your smartphone. This way, you can monitor the inner workings of your business when away, or in short bursts whilst doing other tasks.
Accounting Services For Small Business South Africa: Maximising SureGrowth
Overview
SureBooks SureGrowth package is a direct upgrade of the SureStart package. It is designed to aid a small business as it reaches its growth phase, a sought after yet treacherous time, which sees challenges grow alongside increased rewards. At this stage, a small business can quickly become overwhelmed by the increased logistics, costs and accounting work entailed by an expanding operation.
Fortunately, the SureGrowth accounting package (which goes for a mere R3300) helps small businesses weather this period and maintain sustainable growth, including all the benefits of the SureStart package but at a larger scale, now reconciling up to 250 bank statements or credit card transactions.
Maximising Benefits
Another great benefit you can get from Xero is that it can assist you in creating a very clear budget for your business. For a growing operation, a budget is a crucial tool that can help one plan smart when it comes to costs. This budget should be informing at what rate you’re growing your inventory and hiring staff, letting you see where there’s opportunity to expand and when it’s time to pull back and save.
Accounting Services For Small Business South Africa: Maximising SurePlus
Overview
SureBooks SurePlus accounting package is the final step in our lineup of generalist packages. This is designed to accommodate a small business that has successfully got off the ground, underwent a period of growth and now has a well-established operation. Its functions are designed to be able to handle the capacity of a significant operation receiving many transactions and overseeing a large number of payments.
At R4500 per month, it includes all the base benefits of the SureStart and SurePlus packages but can reconcile over 250 bank statements and credit card transactions per month. On top of this, the package also includes a maintenance of a fixed asset register and ensures correct VAT allocations. With this, a business owner has all they need to sit back and focus on the core operation of their business.
Maximising Benefits
One of the best ways to ensure smooth sailing for any established small business is to invest the time and resources to properly train staff on accounting matters. You’re going to have to ensure that all of your employees are aware of how to log relevant expenses, submit receipts and follow all the appropriate accounting protocols.
This is going to be incredibly useful in maintaining neat bookkeeping and having reliable information on hand. Ensure that this training is applied to all staff, especially as the business grows and takes on new workers.
Accounting Services For Small Business South Africa: Maximising SurePay
Overview
The SurePay accounting services package is a nifty set of services that goes for the low price of R500, although there are price increases that come with optional extra services. SurePay is designed to handle all matters surrounding payments made by a small business, which can certainly go a long way in avoiding any conflict or difficulty with staff.
The package includes comprehensive leave monitoring, records, payslips, reconciled payroll with SARS, and integrated all of this information into the businesses Xero digital accounting books. The base rate of R500 covers monthly payroll for up to five employees but can upgraded to include more for R65 extra for each employee. Alternatively, the package can offer weekly payroll for five employees, with R85 extra for each additional employee one may want to include.
Maximising Benefits
There’s no need to do things the old-fashioned way when we have so many digital tools right here at our fingertips. SureBooks is a firm believer in using software tools such as Xero to automatically distribute payslips and handle other menial tasks. Setting up this quick and easy procedure will do wonders to save a business time, cutting out the need to send emails or print out documents.
Digital systems such as these (whilst not always flawless) are far less prone to error than humans are, potentially avoiding several dire mishaps.
Accounting Services For Small Business South Africa: Maximising SureTaxes
Overview
SureBooks SureTaxes package offers one of the most sought-after services amidst our accounting arsenal, and for a clear reason. Doing one’s taxes is a lengthy and tiresome experience, the unpleasantness amplified only by the pitfalls associated with doing the process wrong. Any small business missing out on their taxes or doing them incorrectly risks harsh penalties and fines. These not only represent a financial burden, but they also form a poor record that makes investment or loans more difficult to acquire.
Fortunately, our SureTaxes package handles all of this and more at only R900 per month, starting with a compilation of all financial statements. It also makes all provisional and final tax return calculations for a business. Moreover, one service will oversee the submission of annual returns to the CIPC, a notoriously dreary task. With this package, small business owners can secure themselves peace of mind, knowing their taxes are in good hands.
Maximising Benefits
SureBooks can be used as a great resource to gain information, specifically about taxes and regulatory changes. Check in regularly about any news relating to changes in tax law and regulation, especially if they’re set to affect your business’s returns. This is far from unheard of (or even uncommon) in South Africa, making our inside information a real lifesaver. While you’re focusing on taxes, it’s also going to be a good idea to be diligent about logging business expenses throughout the year, helping you catch all possible deductions on taxes.
Accounting Services For Small Business South Africa: Maximising Sure CFO
Overview
At R6500, the SureCFO is SureBooks capstone package, offering customers an unbeatable series of advantages. This package is centred around a virtual Chief Financial Officer which has biweekly calls with the small business owner to discuss the financial health of the business and plot out a clear strategy for future growth.
The CFO uses both intimate knowledge of the internal workings of the small business and up-to-date information from the larger economy and relevant markets to formulate the best plan for a business moving forward. This service is all an established business needs to start tracking a path to serious success.
Maximising Benefits
To make the most of your meetings with the virtual CFO, don’t simply come in expecting to listen. Prepare a series of questions and ask questions around growth strategy, managing costs or forecasts around the industry. The CFO will, ofcourse be giving you as much relevant information as they can, but clear questions and direction will help them to prioritise key information and communicate more efficiently.
After these meetings, you should also put all of that information and strategy to good use by translating it into real action. Use what’s learned in those meetings to determine hiring decisions, supplier agreements, marketing spending and more.
Accounting Services For Small Businesses South Africa: Conclusion
In conclusion, SureBooks offers several accounting services to small businesses that make life easier and help businesses sustain growth. There are a number of generalist packages that scale with a small business as it grows, such as the SureStart, SureGrowth and SurePlus accounting service packages. These are perfect all-rounder packages that can be easily upgraded in sequence to keep up with your business as it expands, helping you remain confident in the quality of your accounting all the way.
There are also three other packages which focus on one particular domain: the SurePay, SureTaxes and SureCFO packages. Each respective package excels within its relevant domain and gives small businesses a clear edge. However, every one of these six packages can be further benefited from by integrating some smart habits. These include effective use of accounting software, diligent record keeping, training employees in accounting skills, tracking expenses and more.
By integrating any SureBooks accounting service package with effective business practices, your small business can establish a reliable foundation for long-term success. So visit our website today to learn how we can help you develop your small business accounting systems.
