Better Your Bottom Line and Save Thousands Each Year with Outsourced Bookkeeping Services
They say two things in life are certain: death and taxes – but they forgot to mention that so is the need for the proper management of money. One of the leading causes of business failure today is not insufficient funds, but rather the inability to operate money. If you are a start-up business owner, it is not uncommon to wear many hats, but that does not mean you are an expert with bookkeeping, which includes numbers, tax and balance sheets. And that is okay because that is why bookkeeping services exist.
Prevent Cash-Flow Problems
Critical to the survival of any business – no matter the size – bookkeeping keeps a company from falling into serious cash-flow problems. More importantly, the law also requires that any business track any and all financial transactions, taxes, and so forth. Despite that, many start-ups believe they can save money by doing their books in the evening after hours as if it is a quick fix. As much as we take our hat off to entrepreneurs that strive for self-sufficiency, DIY bookkeeping is a one-way ticket to a financial crisis, leaving the business with cash-flow problems. These are just two invaluable reasons to outsource your books to the professionals and the services they offer, rather than following the DIY route.
Profit and Loss Made Clear
Unless an entrepreneur has a business and accounting degree, most directors do not know their business’s present financial status. Emotions often cloud judgment, leading to biased ideas and budgetary oversight. That is why it is best to hire an outsider who is not emotionally invested but only focused on the profit and loss of the business. Outsourced bookkeepers monitor incoming and outgoing money, meeting financial goals, and increasing revenue.
Save and Gain Money
Outsourcing a bookkeeper is a great way to maximise capital. With the comprehensive services they offer, outsourcing bookkeeping gives you the freedom to not only focus on the core running of your business but also saves you from having to pay a full-time permanent monthly salary. Imagine the hundreds of thousands you will save each year? Besides recording every financial business transaction, reconciling bank statements, and balancing and mending profit and loss (P&L), these skilled professionals ensure you stay compliant with SARS, filing your returns each year. The best part is that you will most likely even get a SARS rebate – because that’s what bookkeepers do.
Skilled bookkeepers understand best practices. Their goal is to oversee and manage all your financial decisions with precision and perspective. A skill that allows for many hats, these qualified professionals know where to make the best changes, thereby getting you on top of your numbers. In this tough period where COVID affects all, saving money and staying compliant are imperative. As such, it is in your best interest to attain the bookkeeping services at CHA Group – it’s what your start-up needs to better your bottom line.