Are you unsure of how much money your business is receiving or spending every month? Making use of bookkeeping services provided by a professional accounting company will ensure that you know exactly how your business finances are being used. This will help you gain better control of your spending and save your business money in the long run.
SureBooks is an excellent company that offers many different services such as accounting, payroll, tax compliance and bookkeeping assistance. SureBooks will ensure that all your finances are in order and that everything is up to date.
What Are Bookkeeping Services?
Bookkeeping can greatly benefit your business. However, from the name alone, it is not clear what exactly these services entail. These services include recording, identifying and separating different accounts into categories.
These categories may include nominal or assets, income and expenses, personal and liabilities. This is done to keep track of the money that businesses spend and receive. Bookkeeping is used to keep track of business operations.
Bookkeeping is done by recording, organising and reporting on businesses’ daily financial data. The job of a bookkeeper is to provide up-to-date information records about businesses. These reports are sent to business owners and managers.
The reports are used to help business owners and managers make decisions regarding how money should be spent. Some bookkeepers share the responsibility of preparing annual financial reports and tax returns with accountants.
There are three important tasks involved in bookkeeping services. These include data entry, bank reconciliations and monthly reports. Without these three tasks, other bookkeeping cannot be done successfully.
Data entry in our services involves recording financial transactions. This includes the money that businesses receive and spend. This is important because it is very easy to lose track of how money is spent which may result in businesses falling into debt.
This is one way to see if businesses are still profitable. It is important for businesses to know how bookkeeping services work even if they use an outsourced bookkeeper to provide these services. This process works in the following way:
- The value of transactions and the dates these transactions are made, who the purchases were made through, as well as what was purchased or sold, are all recorded.
- The transactions will then have to be recorded in the correct account category in the business’ ledger.
Transaction information is often collected directly from point-of-sale systems, bank statements, receipts and invoice records. Bookkeepers will often use multiple sources to gather all the necessary information.
Additionally, bank reconciliation refers to cross-referencing business books against bank statements as well as other financial source documents to ensure that all the information is accurate. All the data entries should match up accurately with these records.
This process is important for finding and fixing any mistakes or missed transactions found during the data entry process. This is one way that businesses can pick up on fraud or if incorrect payments have been made.
During this process, transactions will also be assigned to the correct business accounts if this has not been done. Tax deductible expenses are also found during this process. This is not a complicated process and people often have their business ledger and bank statements open at the same time in order to cross-reference.
During the bookkeeping process, if bookkeepers are unable to find a match for a transaction, they will need to figure out why there is no match and make adjustments so that both records are identical to one another.
However, many bookkeepers nowadays use accounting software to make bookkeeping services easier and faster. Accounting software allows bookkeepers to access transaction data directly from a business’ bank by using a secure online connection.
The software will display each transaction and ask the bookkeeper to verify them and they will then assign each transaction to an account. Using a bookkeeper to keep track of all your business transactions will take a lot off your already busy schedule.
Use SureBooks for all your bookkeeping services and accounting needs. We ensure that all our staff are qualified and properly trained to ensure that you receive only the best service. Our bookkeeping services will ensure that all your transactions are kept track of.
How Would Bookkeeping Benefit Your Company?
It is very important for businesses to have a designated person or an outsourced bookkeeper to ensure that all their finances are in order. One of the benefits of using bookkeeping services is that bookkeepers will be able to ensure that businesses are able and prepared to pay their income tax when necessary.
Using our services will also track businesses’ tax liability as well as ensure that they put aside the necessary money needed to pay their taxes. This is a great benefit of having a bookkeeper as it will improve tax time for businesses. Additional benefits include:
- Helping businesses budget accurately. This helps companies budget efficiently. Bookkeepers will organise your income and expenses which will make it simple to look over costs and financial resources.
- Bookkeepers maintain organised records. It can be very stressful trying to find important financial information. This may result in missed deadlines and small mistakes. Businesses cannot afford any financial mistakes and using bookkeeping services will help to prevent these mistakes.
- Bookkeepers will help businesses reach their targets. Poor financial organisation can prevent businesses from growing. Without clear data to look over it will not be easy for a business to see if they are growing or not.
- Using a bookkeeper to keep all your financial records in order can also ensure that companies meet government regulations. For example, if governments require businesses to do their taxes digitally, bookkeepers will ensure that it is done this way.
- The best benefit of hiring a bookkeeper is that it will give you peace of mind. All your financial information will be organised, making it easier for you to access it whenever necessary. This will save business owners time as they will not have to do bookkeeping tasks on top of their busy schedules.
- Business owners and staff also have the opportunity to learn from the bookkeeper they hire. This can teach business owners more about their business in terms of their finances.
Contact SureBooks to start improving your business’s financial records. We will ensure that you have an excellent bookkeeper that will help you through the time-consuming process of organising your finances.
Bookkeeping: About SureBooks
SureBooks is made up of small business accountants who offer our clients accounting, payroll, and tax compliance services. We will also guide you through each of these service processes. We will ensure that our services save you time and help your business grow.
Our goal is to make your business run efficiently by ensuring you know exactly what is happening with the financial side of your business. Running a business can be intimidating and very time-consuming, especially if you do not have experience with bookkeeping services.
SureBooks will actively advise businesses on better ways to unlock their cash flow and will also provide advice that will change trajectories in a positive way. We pride ourselves on our excellent communication and, furthermore, we are simply excellent at what we do. Contact us for bookkeeping services.
Hiring a small business accountant from SureBooks to provide you with bookkeeping services is guaranteed to save you time, money, and take a lot of stress away from you as a business owner. Our accountants will work with you and not against you.
Additionally, all the accountants that work for our company are accredited with South Africa’s largest accounting service bodies which include SAICA and SAIPA. We are also registered with SARS as tax practitioners.
At SureBooks our leadership has worked for brands that have blue chip levels. Blue chip level brands are brands that are well-known, well-capitalised and well-established. These companies have to fall into these three categories to be considered blue chip.
Moreover, our leadership has started and run businesses successfully. We have experience with running finances at an enterprise level. We will help get your business to the top and help you stay on top. We have over 20 years of experience in the industry.
SureBooks is up-to-date with technology, we know how things operate. We only use technology that will ensure that everything is accurate so that we can provide our clients with efficient accounting services.
We are also a preferred Xero provider. Xero is an accounting software that connects business owners with their financial advisors, banks and numbers. Xero has made providing accounting services easier, as accountants are no longer limited to using spreadsheets.
Bookkeeping Services: What Accounting Packages Does SureBooks Have Available?
SureBooks has many different bookkeeping services for small businesses. You can contact us to receive a custom quote if you feel that there is anything missing from our accounting package options. We will help create a custom quote for you that includes all the services that you may need.
The packages that we do have available include our SureStart, SureGrowth, SurePlus, SurePay, SureTaxes, and SureCFO packages. All these packages include different services so you will easily be able to choose a package that will work best for your business.
Our SureStart package provides clients with reconciled credit card as well as bank statements for up to 100 transactions each month, Xero monthly checks, weekly management and reconciliation by using Receipt Bank, small business accounting financial advice and guidance.
The SureGrowth package includes reconciled credit card as well as bank statements for up to 250 transactions each month, Xero monthly checks, weekly management and reconciliation by using Receipt Bank, and small business accounting financial guidance.
The SurePlus package includes reconciling accounts receivable, reconciling credit cards as well as bank statements for up to 250 or more transactions each month, Xero monthly checks, we will make sure that VAT is correctly allocated, maintaining fixed assets registers, and weekly management and reconciliation by using Receipt Bank.
The SurePay package includes payslips, payroll, leave monitoring, reconciliation with SARS as well as the incorporation into the client’s Xero Books of Accounts.
The SureTaxes package is our company’s tax and compliance package which is all-inclusive. It includes submissions of annual returns to CIPC, a compilation of financial statements, as well as final and provisional tax returns. Lastly, the SureCFO package is a more hands-on package which is highly convenient for any business owner.
This package includes a virtual CFO that will be available for a weekly meeting about the financial health and strategy of your business, bi-weekly calls, strategy planning, executive reporting and measurement and control.
Contact SureBooks to schedule a complimentary consultation about what bookkeeping services you need. We will ensure that the package you choose best suits your financial needs. If there are additional bookkeeping services you would like, we will be happy to discuss this with you.