At Digital CFO™, we consistently deliver streamlined bookkeeping services by means of a personalised service, tailored to your business needs. It all boils down to business as usual – but done differently.
Contact me about Bookkeeping
Do you have Questions about Bookkeeping?
What is Bookkeeping?
Bookkeeping is the recording on a daily or weekly basis of your business’ financial transactions. Keeping record and track of what is going on makes the operations, investments and financial decisions easier for a business owner.
Why is Bookkeeping needed in a business?
Every business needs a bookkeeper or bookkeeping system managed by the business owner. You need this service to make sure your accounts are accurate. You need to supply your accountant with the necessary information so they can give you a clear picture of what is going on. This in return will enable you to make clever and strategically correct business decisions.
It is also your legal obligation as company owner to accurately record the accounts and file your reports to SARS and the CIPC in South Africa. Implementing a proper bookkeeping process or system will provide you insights to the financial health and position of your company.
Why should you choose Digital CFO™ to do your Bookkeeping?
At Digital CFO™ we want to make the following tasks easier four you as business owner:
Keeping track of your daily transactions, sending and receiving invoices and managing your accounts receivable and payable. Doing all of the above enables us to keep an eye on your cash flow and helps you make informed decisions. If we manage these four tasks we can easily integrate these services with our accounting services. Thus we can use our expert knowledge and insight to assist you in going further with strategic recommendations and smart tax planning.
What makes Digital CFO™ different from other Accounting Firms?
We offer an all-in-one solution.
In addition to 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 their business.
Streamlined bookkeeping and business solutions offered in Sandton, Bryanston, Johannesburg, Heidelberg, and across South Africa.
Our bookkeeping 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 that you are in good hands as we take the worry and hassle out of managing your business’s finances.
Our three step process
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.
Read more about Bookkeeping
Accounting is the interpretation and presentation of that data to business owners and investors.
Accounting typically consists of:
financial statements and reports
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:
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.