3 Reasons Why Your Business Needs A Chartered Accountant

One of the main causes of SMEs failure is poor financial management. Many entrepreneurs or business owners take it upon themselves to ‘run the books’ hoping to save more money. However, a wide range of case-studies show that the benefits of professional bookkeeping and accounting services can be essential to growing businesses successfully.

If the turnover of your entity is likely to exceed or has already exceeded R1 million over a consecutive 12 month period, then it is mandatory for you to register for VAT. This should be done within 21 days from the date of exceeding R1 million and submitted to SARS physically.

We Offer Professional Sound Advice

Financial laws and regulations are often complex and rigid; requiring specialised skills and knowledge to safeguard a company from operating outside the law and making any serious actionable errors. Because chartered accountants are regulated by professional bodies, you can be reassured that the advice and guidance you’ll receive is informed and accurate. Their work will continuously be monitored to ensure it meets both compliant and quality standards – giving you invaluable peace of mind.

We Save You Energy and Time

So many business owners assume that a ‘tight budget’ means they won’t be able to afford professional accounting services. However, when you factor in the amount of time and effort you’ll end up spending on trying to manage your own finances as well as the potential losses related from errors – the benefits most certainly outweigh the hiring costs involved. One of the top priorities of a chartered accountant’s job is to ensure your business meets all tax deadline submissions – helping you avoid hefty late penalty fines.

We Provide Guidance for Making Good Decisions

When it comes to the benefits of professional accounting services, it’s not just about the numbers. A dedicated accountant can be a good source of advice and guidance that will essentially prove to be instrumental in building your business and helping it grow. With their experience, knowledge and insight into your company’s financial status – a chartered accountant will provide you with sound wisdom to successfully plan for your business’s future.

These are just a few of the essential paybacks professional accounting services add to your business. If you’re keen to start making smart decisions for your business’s future, contact us on (011) 026-3052.