Why the benefits of outsourced bookkeeping can unlock success

Small business owners have so many responsibilities to juggle. From managing your team to delivering value to customers, pursuing new lines of business and building your brand – it’s a lot for anyone’s plate. In the middle of it all, it’s easy to neglect your books.

You don’t want outdated and inaccurate financial records, so this is where a professional bookkeeping service comes in. Let’s take a look at why it’s so important for a small business or startup to use one.

Why outsource bookkeeping?

Outsourcing business functions is a great way for small businesses to increase efficiency and focus on revenue growth. It so happens that accounting and finance are the most frequently outsourced function, according to a Clutch survey. That’s because…

1. It’s vital to have financial clarity

   You can’t make informed decisions if you’re uncertain about the state of your finances. Accurate financial records provide a clear picture of your business's financial health, and reliable bookkeeping services ensure that income, expenses, and financial transactions are properly documented and organised. Only then should budgeting, investments, and strategic planning happen.
   

2. You need to be tax compliant
   Navigating SARS’ requirements can get tricky. It’s a steep learning curve for the owner of a small business, one that will eat into your available time and add to your stress levels. If you don’t get it right, not only could you miss out on potential deductions, but you could also face penalties.
   

3. You need efficient cash flow management
   Cash flow is the lifeblood of a small business, and professional bookkeeping will help you to monitor it and identify trends. A reliable outsourced bookkeeping service will enable you to better manage expenses, set aside funds for expansion, and avoid financial problems.
   

4.  You need accurate books to secure funding and investment
   When you’re trying to attract financing or investment, it’s especially important to have accurate financial records. Lenders and investors rely on financial statements to assess the viability of your business, so clear and well-organised books can increase your chances of securing funding.
   

5. Other areas of the business deserve your time and attention more
   Bookkeeping is a time-consuming exercise, yet your time is precious. To grow your business, you need to invest your time and energy, and by outsourcing your bookkeeping, you’ll have more of it to spare.

What you’ll gain with our bookkeeping services

Rather than having to find the necessary skills in a dependable new employee or putting in the time and effort to do it all yourself, you can rely on the bookkeeping expertise we have to offer at Rae & Associates. Our team of experienced professionals allow you and your team to focus on your core competencies, safe in the knowledge that your books are accurate, up-to-date and efficiently managed.

We ensure cost-effectiveness with three bundles to suit businesses at different points in their growth journey. All of them include a dedicated accountant to help manage your books, prepare financial statements, assist with technical queries, prepare and submit SARS returns (VAT, provisional tax and income tax), and manage payroll processing and the relevant returns (PAYE, UIF, SDL, EMP501, IRP5 and COIDA).

Outsourcing your bookkeeping is an investment in the success and sustainability of your small business. With Rae & Associates, you gain a cost-effective way to leverage the bookkeeping expertise you need to ensure your books are properly taken care of. So, make the smart move and get in touch with us.