Outsourcing your accounting functions to a reputable and experienced company offering professional accounting services holds several advantages, some of which are briefly discussed below.
No doubt, even with an onboard person to handle all the bookkeeping and financial accounting functions, there is always the risk of errors. When outsourcing the function, whether as small, medium or large firm, the risk of inaccuracies is significantly reduced. The Tax Shop for instance, has a large team of accountants, tax professionals and bookkeepers to ensure that proper procedures are followed and all calculations reviewed as part of quality control.
When you make use of the professional accounting services offered by a company such as The Tax Shop the firm takes responsibility for the record keeping, calculations and submissions. As such, there is an audit trail of accountability for the bookkeeping and completion of financial statements.
Space and Cost Savings
Instead of having full- or part-time staff members dedicated to bookkeeping and accounting, all requiring remuneration and salary benefits, the function is handled by the outsourced company. This means savings on office space, equipment, personnel remuneration, electricity, copier and printer usage, communication costs and rental space needed for personnel offices.
Permanent staff members go on leave and there is also the consideration of medical aid contributions and payroll calculations because of the extra personnel. When outsourcing the function you don’t have to be concerned about staff training, sick leave, and salaries. The Tax Shop handles from bookkeeping to accounting and financial statements using our resources.
With it being essential to ensure accuracy and timely completion of bookkeeping functions and the preparation and submission of financial statements, you cannot afford for personnel to take sick leave or to fall behind schedule on their work. When making use of the professional accounting services offered by The Tax Shop you have the assurance that all statements, books and records will be up to date and completed in time for submissions to the relevant authorities.
Minimise the Risk of Fraud
It is not always possible to exert enough control over the accounting functions within your company, irrespective of size, and not all employees are honest at all times. Unfortunately, fraud by one employee in a key position can go unnoticed for a long period, meaning financial losses to your firm and also damage to the firm’s credibility. Avoid the risk of in-house fraud and theft. Outsource the accounting services to The Tax Shop to ensure that your firm meets compliance requirements and don’t lose money because of errors and fraud.
With various packages available to meet your particular bookkeeping and accounting service requirements, we structure our packages to ensure affordability of the functions. This means that irrespective of the size of your company, we have packages to suit your budget and accounting needs.
What Our Professional Accounting Services Entail
We offer from the monthly bookkeeping services to financial statement preparation and related accounting functions. We provide a package that suits your particular bookkeeping and accounting needs. You can thus make use of our services whether just for monthly bookkeeping, for projections, preparation of annual financial statements or assistance with quarterly calculations and budgets. You can outsource only part or your entire accounting function to The Tax Shop, giving you complete peace of mind knowing that a large team is available to ensure accuracy, professionalism and compliance.
Our Accounting Services
Our accounting services include the following:
The monthly bookkeeping includes the cashbooks, month-end journal entries and bank reconciliations with the debtor ledger including functions, such as monthly invoicing and debt collection.
Why The Tax Shop?
We are a professional services franchise group with outlets throughout the country and have a proven track record of service delivery dating back to the end of 2002. Apart from bookkeeping and accounting services we offer professional payroll and tax services, giving you a one-stop-shop for your payroll and accounting functions.
View our full range of professional accounting services and make use of the online quote request form or contact us for personal consultation.