Are you thinking about hiring a bookkeeper but are not sure if it is right for you? There are many amazing benefits to using bookkeeping services for your business. Bookkeeping services will help keep all your finances in order so that you do not have to.
SureBooks is an excellent accounting company that offers payroll and accounting services that will help your business grow. We will help you with all your bookkeeping needs and free up your time to focus on other important business matters. Read this article to learn more about how our services can help to grow your business.
What Are the Benefits of Using Bookkeeping Services for Businesses?
Bookkeeping services can greatly assist with growing businesses. Starting a business will take a lot of time and it can be difficult to keep track of expenses and the money that is coming into the business. Here are a few ways that bookkeeping services can help your business grow.
- When using bookkeeping services, all your accounts will get put in order by a professional bookkeeper. Bookkeeping services will keep track of your business expenses and sales, receipts and payments.
- You will receive expert advice from a professional bookkeeper. It can be challenging trying to do your own bookkeeping and this may lead to mistakes. An experienced bookkeeper will advise you on how to improve your financial processes.
- Using bookkeeping services will help you spend your money wisely. A professional bookkeeper will advise you with regard to how you can reduce or replace expenses. This will help you see where money should not be spent or where too much is being spent.
- Using professional bookkeeping services will help you make more money. Bookkeepers will make recommendations regarding increasing the prices of services or products. They may recommend applying for government grants to help fund your business.
- Bookkeepers can provide their clients with financial forecasting. Professional bookkeepers have the skills to translate financial data into forecasting information. This helps businesses make decisions about the performance of their business.
- Tax preparation. With regard to this, bookkeepers and accountants work together. Bookkeepers will put together all your financial data and ensure that the accountant has all the necessary information.
- Professional bookkeeping services use accounting software. Your bookkeeper will keep up to date with any changes and developments in accounting software. This will allow you to know exactly what is happening with your budget and business finances.
Make use of professional bookkeeping services through SureBooks to help your business grow and prosper. We will ensure that all your financial data are in order to allow our clients to know exactly how their money is being spent.
What Will Using Bookkeeping Services Mean for Your Small Business?
When it comes to bookkeeping services for small businesses, the first step will be to have an accounting software setup. The software will connect your business bank accounts, necessary data entry and settling transactions.
The software will involve finding and correcting mistakes and streamlining various parts of your business processes. Furthermore, you will need to decide whether you would like to use single or double-entry accounting systems.
A single-entry accounting system is used to record your transactions once, either expenses or income. This is a simple entry system that is often used for smaller businesses that do not have large inventories or a lot of equipment.
A double-entry accounting system enters every business transaction twice, one as a debit and one as a credit transaction. This is done to balance your books between different accounts. This can be more complicated than a single-entry system, however, it does prevent mistakes.
After this, you will need to decide between cash or accrual-based accounting methods. The cash-based accounting method involves recording transactions every time money moves. However, it does not record any invoices or outstanding bills until payment has been made.
The accrual-based accounting method involves recording invoices and bills even when payment has not been made. This method is often recommended. This will depend on your business preferences. There will be no need to worry when you make use of bookkeeping services, all of this will get taken care of.
Moreover, using bookkeeping services involves managing transactions daily. This process includes categorising and bringing in transactions, reconciling transactions and ensuring that each transaction is recorded according to the entry system and accounting method chosen.
Bookkeeping Services: 7 Different Ways to Finance a New Business
Have you started a new business but have no idea how you are going to fund it? Thankfully, there are many different ways to finance businesses. It is important to understand what each financing option is and how they will work. These options include:
- Business loans and lines of credit are two of the most common ways to finance your new business. You could use short-term, long-term and development loans, and equipment financing.
- Using savings to start a business is often the first thing that people do. Using your own cash to start a business is great. This means that you will not go into debt right from the start. This, however, can be risky. If the business fails you could be left with little to no money.
- Asking friends and family to help you fund your business is an option if you do not have savings of your own. This may be beneficial as they may not ask for payment with interest. However, if your business is not successful, paying them back will be a problem.
- Business credit cards work well for businesses that can only pay off their expenses at a later stage. Before you start using a credit card for your business expenses make sure that you understand the difference between personal and business credit cards.
- Crowdfunding is used to raise capital from individuals in order to fund your business. There are websites dedicated to helping new businesses get funding. You will need to create a proposal discussing how much money you need and how it will be used.
- Factoring is used when your new business already has a few customers and cash flow. Factoring companies may borrow you money based on how much your receivables are valued. This is an option if you do not qualify for other financing options.
- Angel investors can be a simple way to fund your business because it does not involve borrowing money. It involves receiving funding from people and other businesses that invest money into start-ups.
The way you decide to finance your business will depend on how much money you are going to need, if you have a good credit score and if you are comfortable with accumulating debt or exchanging equity for funding.
Before you apply for funding, find out what your credit score is. This will help you find out which financing will work best for you. Contact SureBooks for help with finding out what your new business will need to receive funding and provide you with excellent bookkeeping services.
Bookkeeping Services: About SureBooks
SureBooks has more than twenty years of experience in the accounting business. What makes us different is that our leaders have created businesses and have successfully run them. Our leaders have the experience and skills to run business finances at an enterprise level.
This means that our business has experience in helping businesses grow in the best way possible. We know how to get you to the top and how to keep you there. When you hire us we will ensure that your business finances run optimally.
SureBooks is a business made up of small business accountants. We know that you want your business’ financial management to work for you. The biggest problem for many business owners is that they do not have the time to manage their finances so let us help you.
We are an accredited accounting business. We are accredited through SAICA and SAIPA which are two of South Africa’s biggest accounting service bodies. We are registered with SARS as tax practitioners.
Our business has both Chartered Institute of Management Accountants and the South African Institute of Chartered Accountants accreditations. We are also a Xero service provider. Our highly qualified bookkeepers and accountants will know exactly how to help you.
We have worked for brands that are blue-chip level. Our leaders are entrepreneurs which has allowed us to provide our clients with the best advice and guidance. We pride ourselves on saving our clients money and making their lives easier.
Furthermore, we keep an eye on the latest and best technology to use for our accounting services. Our services will free up your time and help you save money where possible for you to reinvest back into your business.
SureBooks uses Xero to provide our clients with accurate and trustworthy accounting services. We use Simple Pay for our payroll services and Receipt Bank to assist our clients.
Additionally, bookkeeping services include handling your accounts receivable and payable. At SureBooks our bookkeepers will take care of your accounts receivable and ensure that your business’s goods and services are paid for.
We will also prepare and send invoices, and provide you with statements. Our bookkeeping services also include making sure that our clients’ businesses pay bills and send out invoices on time. This is known as accounts payable. These are important for all business finances.
There are many more aspects involved in small business accounting which can be confusing and frustrating. Our hard-working bookkeepers will help and guide you through the process of finding the best bookkeeping services for your business.
Bookkeeping Services: What Services Does SureBooks Offer?
At SureBooks we offer exceptional bookkeeping services, and accounting and payroll services. Our experienced accountants will help you get your business finances in order and they will help you understand your business finances.
The payroll services we offer include payslips and administration, PAYE – SDL – UIF, and biannual EMP501 submissions. Payslip and administration services will take the stress of daily accounting management off your hands.
PAYE – SDL – UIF services include taking your employee taxes off your hands. We will ensure that everything runs smoothly and accurately. We will also submit your EMP501s twice a year for you. This will give you the time to work on your business without worrying about SARS.
Additionally, SureBooks also offers different packages for clients to ensure they receive all the bookkeeping services they need at the best prices. At SureBooks we have six different packages available for our clients.
Each package includes different bookkeeping services. Our clients can also contact us for a free consultation to discuss the package they are thinking of using as well as discuss whether they would like to create a custom package.
We give clients the opportunity to customise their packages because not every business needs the same bookkeeping services. This will ensure that our clients are receiving the help they need and we can guide them on what services their businesses may need.