Monthly Bookkeeping Services

6 Reasons Why Monthly Bookkeeping Services is Important

Most people will groan at the idea of bookkeeping; it is time consuming, and in some cases confusing. Then there is the matter that if you haven’t been taught how to do it properly, it will often increase work stress, and it can also take away time from other aspects of your business.

OfficeOnCall offers fantastic value for money monthly bookkeeping services. Whilst many people decide they don’t need to invest their hard earned cash in professional bookkeeping services, it can actually save you a lot of time and money in the long run.

The real question is, why is bookkeeping so important?

Legal Requirement

Yes, you heard! The law requires you to keep financial records for up to five years after the transaction takes place. OfficeOnCall’s monthly bookkeeping services can help you along with this, so that five years on you still have accurate, easy to read data at your fingertips.

Tax Returns

Tax returns are also a legal requirement. It can be very time-consuming if you have left it all to the last minute, especially if you have to wade through all of your receipts and invoices to work out your actual income and expenses. Our monthly bookkeeping services will help you keep it in check, so that you know exactly where your money has come from, and where it is going. We can also help you manage your funds better, so that you pay less tax. Bonus!

Better financial management and analysis

Our monthly bookkeeping services mean that you will always know who you owe money to, and who owes money to you. You are less likely to end up in debt or with bad credit, and you are not going to lose out on money simply because you forgot to chase it up. Cash flow management is one of the most important things to keep an eye on, whether your business is big or small. If you don’t keep up to date with your financial comings and goings, you are more likely to find yourself filing for bankruptcy, or having to dissolve your company. Let OfficeOnCall’s monthly bookkeeping services help you out, and take away some of the strain.

Business Planning

Everyone dreams that their business will one day make them their millions, allowing them to retire early and leave everyone else doing the hard work. Well, this is not going to happen if you have poor business planning. One of the key areas of business planning is your bookkeeping. By signing up with one of OfficeOnCall’s monthly bookkeeping services, you will know the exact revenue and expenditure for the year, and this will help you to plan for the next year. By having a clear view of where your money has been coming from, and what you have been spending it on, you will be able to plan better for the future.

Loans and Funding

It is horrible knowing that you need a certain piece of equipment or land in order to expand, but being unable to afford it. You get stuck in a circle, and can eventually lose interest and simply give up. Our monthly bookkeeping services will put you in a better position to go to the bank and ask for a loan. You will also be more successful in approaching investors. This is simply because you will be able to show, accurately and clearly, exactly where your money is coming on.

You will be able to prove a regular income, and even show its increase over the years. With this, you will also be able to build up your business plan to show how much money you could make with that extra land or item. You will be able to prove to the bank that you can pay back their money, and you will be able to show investors how much turnover they will be getting for their money.

Keeping Business and Personal Funds Separate

One of the biggest mistakes people make is to merge their business and personal funds. They will take money from one fund to pay off something in another, and forget to pay it back. With our monthly bookkeeping services, you will be able to keep an accurate track of your records, meaning that this is something you shouldn’t have to do. If you do take money from one account for the other though, you will have a record so that you don’t forget to pay it back.

Aintree House GF01
Epsom Downs Office Park
13 Sloane Street, Bryanston
Tel: +27 11 706 1040
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Merano Place
Sabie Road
Bloemhof, Bellville
Tel: +27 86 107 6583
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