Frequently Asked Questions

 

We understand that time is money, and we want to help you maximise your output by taking care of all the tasks that take up your time.

We offer three levels of products. Level one is for start-up businesses. Typically, the business is still in its conceptual phase, and the client needs some guidance in terms of what their next steps should be in starting their business. This can range from tax registrations to business advice, based on a forecast for the first year of their new company’s operation. We will guide these clients through all the red tape and help them set up their businesses to run successfully. Level two products are for growing businesses that are still in the early stages of development, and which require streamlining of internal processes to make the business as effective as possible. Certain areas are identified where the business can improve, and these suggestions are implemented over a period of time. Level three is for companies that have already gone through all the changes that level one and level two businesses typically go through. This level is for a company that is established, and has a clear vision of where it is headed. These businesses’ needs are set, and all that needs to be done is to manage the company effectively.
We know that, in any business, cash flow can be restrictive. Once a year, you need to draw up financial statements, and this usually carries a big once-off price tag. At Digital CFO, we look at the totality of the services you will require during the coming financial year and, instead of invoicing you a large, once-off fee up-front, we divide it into 12 monthly payments. That then amounts to your annual “retainer”, which makes the expense more manageable and assists with your company’s cash flow.
We do provide tax services for both individuals and companies. We will also communicate with SARS on your behalf, using our expert knowledge to save you valuable time.
When integrating all of your accounting services with us, we have our finger firmly on the pulse of your business. We usually look at your company's past performance, and use this as a base from which to determine your probable future cash flow. As time goes by, and our team familiarises itself with your business, we can plan your company's cash flow more effectively, and plan strategically so that your company does not run out of cash when paying your bills.
This is typically one of the services we offer to start-up businesses, as this is one of the basic requirements when paying your employees. But if it does fall through the cracks, we will gladly assist you in registering your company's UIF and calculating the monthly deduction for each employee.

What is the difference between a professional accountant (SAIPA) and a Chartered Accountant (SAICA) registered accountant?

Due to the nature of their clientele, financial accountants normally also provide services like payroll, UIF and Compensation fund liaisons. Their role in business has expanded to include the general financial management of SMEs, which tend to make up the bulk of a financial accounting firm’s clientele. Public companies need CAs to do their books. Big corporates, like Sasol, MTN and Vodacom, are not owner managed. They have shareholders who are not involved in the day-to-day running of the business. Their function is to check that these public shareholders’ interests in these massive companies are being looked after.

How do you establish what services my company would need?

Every business is different and, of course, they operate in various different industries. However, all companies’ primary needs are similar. We have compiled a list of the services that we offer, which are categorised under different levels, to help you easily identify the services that you need. If you are unsure of what a specific service entails, feel free to contact us at hello@digitalcfo.co.za