Frequently Asked Questions
Why should I outsource my accounting function?
In our article here, we explored the pros and cons of employing a full time accountant versus outsourcing to an accounting firm. You will find that outsourcing this function can have massive benefits for your business.
What is the process of changing to BA and will it be a painful one?
The process is simple and the time spent on the transition is an investment you will not regret. We will first analyse your current set-up, then strategise an onboarding plan. We will transition your current systems to the cloud and ensure everything is running smoothly before handing over your new fluffy clouds.
We will also pull over your tax profiles into our portfolio for active management.
Overall, the transition process will be taken care by ourselves with minimal efforts on your part required. So no, it will not be a painful process.
What exactly does the DIY package include?
We will help move your desktop accounting to the faster, more efficient cloud accounting. We will hold your hand with the new software for a while, until you can Do It Yourself (DIY).
We will then keep an eye on what you are doing on your new cloud accounting records, just to make sure you are on the right track. If we see you are making some mistakes, we will step in and help you do it right.
You also get full payroll function support, as well as full CIPC submissions support (secretarial).
We also take care of all of your taxes.
Can I change packages at any time?
Of course! You can upgrade, downgrade or cancel your subscription at any time you want. Just contact us and we will get you sorted.
What is the "Analysis and Interpretation" item included in the Business package, and why is it important?
This is a financial management tool that provides insight into the numbers that are reported on in your financial statements.
First we analyse the numbers using various ratios and calculations. Then we interpret the results by giving feedback as to what the results mean.
This additional reporting tool may identify the areas of your operations that are performing poorly. You will then be in a position to rectify any problematic areas in your financial operations, thereby increasing profitability.
What level of involvement in my business finances can I expect?
As much as you require. We encourage all business owners to be actively involved in their finances, whether they use BA services or not. This will ensure that you have your finger on the financial pulse of your business at all times.
BA will take care of the accounting and reporting, while our cloud accounting software will give you unlimited access to your books.
Daily financial operations such as quotations, invoicing and debt collecting are functions that are generally not included in the scope of BA. Adding these functions to your package can be negotiated with management.
How can you help me prepare for (and survive) tax season?
Well before any tax deadline we will ensure that your numbers are up to date, correct and supported by any documents as may be required by SARS. We will be with you all the way and ensure the process is a breeze.
How can you help me clamp down on my cash flow?
Cash flow is the life blood of your business. We help you to keep an eye on cash flow by developing an organized, effective cash flow model that allows you to adjust your operations in ways that help you survive shortfalls, as well as improve debtors and manage creditors.
The ‘pay now’ option on your new online invoices will also help customers pay their accounts much faster.
How can you help me grow my business?
Firstly, you will spend less time on bookkeeping and admin, and more time on the important things, like tending to current customers, and acquiring new ones.
Secondly, with real-time updated financial information you can make better financial decisions.
We also introduce you to Xero accounting, which will quite literally change the way you see finances, forever.
BA is predominantly an online accounting firm. Does that mean that everything is digital? Even meetings?
Being an ambassador for paperless systems, most of our services are digital.
We further appreciate the fact that some business owners prefer to physically see their accountant, so we either meet with them in person or conduct a quick meeting via Skype. But, we physically meet with the client at least once a year to discuss their financial statements (and analysis if on the higher tier package).
Communication with our national clients (outside Gauteng) will mostly be in digital format.
What’s the best way to contact you and how often should we be in touch?
Everyone has a different preference when it comes to contact method. We rock any platform so make your pick. Fastest option is calling, but should we be unavailable drop us a WhatsApp message or e-mail. Want to meet, but too far away? Let’s Skype!
We should be in touch as often as you need us.