Most companies don’t outsource their accounting – this is why you should

What are the chances you started your business to sort through receipts, or to spend days trying to get SARS e-filing to work on Google Chrome? Between zero and none? Ja. We thought so.

You should be bringing in the big bucks. So why are you are stuck crunching numbers? Keeping track of your company’s finances and being tax compliant is non-negotiable, but you don’t have to do it yourself, or even have a dedicated member of staff do it.

Like getting your car serviced, having brain surgery, or unblocking a main sewerage pipe, some jobs – like your company’s finances – are better left outsourced. Apart from making your life a hell of a lot easier, here are three good reasons why you should outsource your accounting.

  1. You’ll save on employee costs

By outsourcing your finance and tax compliance you don’t have to spend money on things that come with a new hire, like:

  • Recruitment costs
  • Employee tax and benefits
  • Cost to Company
  • Having to hear about their cat’s unwillingness to eat no-name food, or their new vegan lifestyle. Neither of these cost anything per se, but they come with a price…
  1. You’ll avoid costly mistakes

Sure, sometimes it’s cheaper to do things yourself, but accounting and compliance mistakes can be costly – almost as costly as a Gupta wedding. Financial compliance that’s not carried out properly can come with hefty fines and dire consequences, but, when you outsource your accounting, you’re hiring people who know what they’re doing.

Outsourcing your company’s accounting also allows for a lot more flexibility. Instead of having one or two in-house finance people, you’ll have an entire qualified and experienced team at your disposal.

  1. You’ll have more time to focus on bringing in business

Time is money, and sometimes you need to spend money to make money. This is one of those times. By outsourcing your company’s financial functions, you and your team can spend more time focusing on your core mission: to get business booming.

And outsourcing doesn’t have to be expensive, either – from R5 000 a month someone else can manage your financial admin headaches. Accountants are good at regulatory issues, but very few maximise business opportunities: Your Accountant doesn’t just crunch numbers; we actually help grow your business.

Want to find out how outsourcing your company’s accounting can save you time and money? Contact us.