While focusing on your core business, the recording of daily financial transactions can easily become overwhelming.
Out of date or poorly prepared records can hinder the growth of your business, and adversely affect its financial health.
But how you may ask?
by keeping on top and ahead of who owes you money, who you owe, and identifying expenses that are bringing down your bottom line, so that important cash management decisions be made. To do this you would need to know exactly what comes in and what goes out of your business, when and for what.
BUDGETS AND FORECASTS
by recording all financial transactions in accordance with proper financial standards, you not only gain insight on the financial health of your business, you are able to identify trends which will aid you in planning ahead.
SARS AND TAXATION
by submitting an accurate representation of your business' financial status for the purposes of determining the correct rate of tax.
SARS, being a rigid and inflexible institution, demand that transactional records are maintained and stored for up to 5 years. Taxation rules are stringent, and taxes are imposed on net profit, depending on what category your trade falls under, for example:-
- Sole Trader
- Micro Business
- Small Business
SARS have the right within those 5 years to perform assessments on past income tax submissions (you've already long forgotten about), should the slightest variance occur.
We put the "I" back into your "lIfe"
capturing sales invoices
applying payments to those invoices when received
providing you with customer statements
providing you with an age analysis and unpaid invoices report
Know how much money you have made, who still owes you money, and for how long.
capturing supplier bills
applying payments to bills once paid
providing you with an age analysis and unpaid bills report
Know how much money you owe, who you still owe money to, and for how long it's been outstanding.
Reconciliation of Transactional Accounts
bank - capturing of debtor receipts, creditor payments and operating expenses
Following the recording of the daily transactions within the normal course of business, these reports would indicate the monthly profit or loss of your business, to provide you with an accurate picture of your financial health to make better business decisions.
a dashboard of all income, cost of sales and operating expenses
a dashboard of all assets, liabilities and the net worth of your business
What does it cost?