Let our accounting experts take care of your book keeping needs through the use of our cloud based accounting software. Book keeping involves recording and classifying all the financial transactions in your business. In simple terms, it is keeping track of the money your business spends and the money your business receives.
Our team will be responsible for this entire function within your business. From keeping record of day-to-day transactions through cash books, compiling your journals, ledgers and trial balance to weekly reconciliations of your financial transactions. We will also keep record of your debtors and creditors, this will help your business collect all revenue due to you and will ensure you never miss payments to your creditors. Businesses need book keeping in order to do the following;
- Check if your business is profitable – are you making more money than you are spending?
- To compile reliable financial information for planning and budgeting decisions
- Keeping track of company cash flow in order to meet creditor payments
- Assist in preparing accurate tax returns and avoiding penalties from SARS
- Book keeping will keep your financial information organised which will make it easier for you to work with third parties such as lenders, investors and financial institutions.
Included in our book keeping function is taking care of you businesses payroll function. This function includes monitoring SDL and UIF payments and submissions, EMP201 and EMP501 reconciliation and submissions. We will be monitoring salaries and wages payments to ensure that all your employees are paid accordingly with no over or underpayments made.