At Digital CFO we consistently deliver streamlined accounting services through a personalised service tailored to your business needs. It all boils down to business as usual – but done differently.
Accounting is the interpretation and presentation of that data to business owners and investors. Accounting builds on the information that is compiled in the bookkeeping process.
Accounting typically consists of:
What is Accounting?
Why is Accounting necessary for you business?
How can Digital CFO™ help you with your Accounting?
How does the Digital CFO™ Team handle all your accounting needs?
Over and above month to month accounting services, we also deliver accounting support for any accounting related questions. Our aim is not to just tick the necessary boxes – we go further by empowering our clients to understand each process and the overall role it plays in the day to day running of business.
Streamlined accounting and business solutions offered in Sandton, Bryanston, Johannesburg, Heidelberg and across South Africa.
Our accounting services are further supported by allocating your transactions in a state-of-the-art online based accounting system that you can access at any time.
Working together with Digital CFO, you can truly focus on running your business, knowing you are in good hands as we take the worry and hassle out of managing your business’ finances.
We do a quick consultation on what your needs are in terms of an accounting partner. Or we can do a short analysis of your business and help you establish your needs.
We suggest an implementation plan & solutions that suit your industry and business model. We offer you a blueprint when you onboard on how your business could run as effectively as possible.
We start streamlining your processes and systems, from where we can give you some advanced reporting. We teach you how to read the numbers and gain insight on how to manage your finances more effectively.
Credit. The indistinct little word that all financial institutions use. Credit. But what is credit? What does it mean if “your credit score is too low” or “I need to increase my credit score”?
Read more to master your understanding of the term credit and become financially healthy.
There are still many outdated systems out there that are soon going to become redundant. In this interesting time, we found ourselves in. Many businesses have been tested in the continuity of their operations with the rise of the COVID-19 pandemic. How much anxiety did it cause you to move your staff off-site? What impact is it having on your business socially and economically? Were you able to continue? Have you considered cloud-based accounting systems as a place to start?
Accounting is the interpretation and presentation of that data to business owners and investors.
Accounting typically consists of:
financial statements and reports
budgets
tax returns
analysing business performance
Bookkeeping focuses on recording and organising financial data. Bookkeepers working for smaller businesses might do some basic accounting duties.
Bookkeeping typically consists of:
payroll
invoicing
receipts and bills
recording business transactions
A budget is an estimation of income and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis.
And Forecasting is a technique that uses historical data as inputs to make informed estimates that are predictive in determining the direction of future trends.
Business management focuses on the organising, planning and analysing of business activities that are required to efficiently manage and run a business.
Financial management is strategically planning how a business should earn and spend money. This includes decisions about raising capital, borrowing money and budgeting. Financial management also involves setting financial goals and analysing data.
A debt collector is a company or agency that is in the business of recovering money owed on delinquent accounts.
A financial statement is a report that shows the financial activities and performance of a business.
There are four main types of financial statement:
Balance sheet: a snapshot of your business’s financial condition at a single point in time, such as 31/12/2016. Shows your business assets, liabilities and owner’s equity at that time.
Profit and loss statement: also called an income statement. Shows your business’s revenues, costs and expenses over a period of time, such as 1/1/2016 to 31/12/2016.
Cash flow statement: also called a statement of cash flows. Shows changes to the cash coming into and out of your business over a period of time. Only records cash (not all income). Shows whether you can cover short term expenses like bills and payroll.
Statement of changes in equity: also called a statement of retained earnings. Shows changes in the equity of your business for a set time period. In other words, changes in how much money your business keeps (rather than pays out to shareholders).
Combined, these statements provide a good view of the financial health of your business.
Payroll is the compensation a business must pay to its employees for a set period or on a given date.
Taxes are mandatory contributions levied on individuals or corporations by a government entity—whether local, regional or national.
A compliance officer is an employee of a company that ensures the firm is in compliance with its outside regulatory and legal requirements as well as internal policies and bylaws.
