Starting a business means signing up for a journey full of the unknown that will sometimes take you on uncertain paths to success.
Many entrepreneurs tend to ignore accounting and bookkeeping in the early stages of their companies’ journey while focusing on growth and product development instead but sooner or later, the books will need to be put in order. Getting it done right from the beginning is always the best approach.
Let’s take a look at the benefits of an outsourced bookkeeping solution for SME owners, both from a tax compliance point of view, and also in terms of the value it brings to any fast growing company.
How an outsourced bookkeeping solution can help take your business to the next level
The huge efforts that every business owner makes in the early years should pay off in the form of growth and profitability, but how do you measure that?
- A company that increases its revenue and profit margin every year is a business that’s on the right path.
- A comprehensive set of books that is kept according to the best practices of the accounting industry will give you key insights into your company’s progress.
Bookkeeping is the first step in the accounting process, with every transaction being entered correctly so that the financial statement shows the true state of the company’s income and profitability.
Mistakes in the bookkeeping process can result in reported revenue, turnover, profit, and loss, and salary information that’s incorrect. This can become a major tax headache if erroneous statements are submitted to SARS – and even if it doesn’t, it means that you don’t have a true picture of what’s going on in your company’s finances.
No time to fix your books? Leave it to us
One of the biggest complaints that our SME clients share with us when they sign up for our outsourced bookkeeping service is that they simply don’t have time for bookkeeping. Luckily, we do.
Many business owners are also concerned about the cost of employing a full-time bookkeeper and may not have the accounting knowledge to screen potential candidates and ensure that the person is doing a good job. Our team of professional accountants and bookkeepers will put your mind at ease while you focus on the bigger picture.
- Bletchleys outsourced bookkeeping solution provides accurate, professionally compiled financial records that are signed off by our team of bookkeeping and accounting experts.
- You can easily integrate the bookkeeping service with our financial management, taxation, and payroll management offerings for a turnkey financial solution.