Bookkeeping services

Keeping your finances on track

Professional bookkeeping services for business success.

Bookkeeping services might not seem important for small to medium-sized businesses, but the value you get from outsourcing this service can be a great asset for your company. From helping your business grow to identifying errors in your financial management, the results are more than tangible. Plus, you can use the limited time you have every day to do what you do best, and that’s running and managing your business.

But first, let’s discuss what bookkeeping services are and who needs it.

What's included?

What our bookkeeping services include

Cape Town accounting support: At Thryv Accountants, we handle everything when it comes to bookkeeping and financial documentation. By allowing experts at our firm to file, process, and submit all your records and financial statements, you’ll experience the peace of mind and security of knowing all accounting needs for your business are done following all laws and regulations in South Africa.

Some of the components included in our bookkeeping services include:

Aside from the standard bookkeeping duties and standards, we offer a wide and comprehensive service that involves management and tracking of all your financial activity – Our staff of experts is trained to analyse and create custom solutions that will maximise your company’s system of operations.

Definition

Financial record-keeping in Cape Town: What are bookkeeping services?

Bookkeeping services refer to the process of keeping financial records and preparing financial statements such as balance sheets and income statements. A bookkeeper will make certain that employees submit invoices and expenses correctly and manage payroll daily.

It is vital to keep meticulous company records. It helps you comprehend how much money is owed to you and how much you owe, and it prevents you from making costly, not to mention illegal, mistakes. It can also assist you in managing your firm and discovering new cash streams.

Bookkeepers are required to summarise your company’s operations into financial reports. These reports provide information on your company’s financial situation as well as its performance.

Some of the procedures involved with bookkeeping service include:

Purpose

What is the purpose of bookkeeping services?

The function of a bookkeeper is to provide accurate, up-to-date financial data so that accountants may create annual financial reports and tax filings for your business.

Accounting reports are used by you, the business owner, and other stakeholders such as managers to help them make business decisions.

A bookkeeper ensures that you invoice your clients and receive their money on time. They also make certain that any outstanding invoices to suppliers are paid on schedule and without running out of funds. They ensure that bills are paid on time to avoid delivery delays or credit holdbacks from suppliers.

A bookkeeper manages payroll in addition to accounts payable and receivable. This involves calculating employee pay, modifying deductions, and ensuring that employees get their net salary on schedule. Furthermore, precise payroll is required for compliance.

Data entry is essentially the practice of entering financial transactions or keeping track of what enters and exits your company. It is the foundation of bookkeeping and accounting services since solid financial data is essential for the compilation of financial statements. This is because accurate financial records will give you, as a business owner, and other stakeholders, a true and fair view of how your firm operates.

There are many reports and financial documents that a bookkeeper maintains, files, and reconciles, and includes some of the following:

These reports show if your business is successful and whether it has enough cash on hand to meet its day-to-day operations.

Bookkeeping vs accounting: What’s the difference?

A bookkeeper is the official keeper of your business’s financial records. Your financial strategist and planner is an accountant. This professional is in charge of audit preparation, tax planning, and offering financial analysis and assistance to organisations.

Accounting and bookkeeping services may be managed by a single person, but the roles are different. And having the same professional manage both your accounting and bookkeeping is a powerful combination, as the insight and understanding of your business operations will result in unique action plans to improve the operations and finances of your company.

Bookkeepers organise data. And accountants interpret that data. Bookkeepers, for instance, assist you in managing your day-to-day accounts. This includes billing and invoicing as well as preparing financial statements. Accountants evaluate and review financial records, provide tax advice, and provide direction and supervision over daily financial operations.

At Thryv Accountants, we offer our clients both. And this allows us to streamline your business accounting and dive into the details of your financial figures, allowing us to improve, maximise your cash flow, and prevent any compliance errors, to name a few benefits.

account reconciliation services

Who needs bookkeeping services in South Africa?

Every firm must do basic bookkeeping. Your business must focus on maintaining accounting records, namely expenditures and accounts payable and receivable, calculating profits/losses, and preparing financial statements for various reporting periods. Bookkeepers at small businesses may be responsible for a variety of tasks, such as receiving receipts and calculating and paying payroll salaries.

When your company reaches any of the following milestones, you’ll know if you need a bookkeeper:

When does a company need bookkeeping services?

It’s a simple process to determine when your company needs bookkeeping services. We’ve listed the main reasons our clients decide why they need bookkeeping:

Bokkeeping for SME's

Small business bookkeeping in Cape Town

Bookkeeping is an essential component of running a business. Small companies can utilise bookkeeping to organise, store, and analyse financial data. Using this financial data, you may make educated judgments about your company’s financial stability.

It is impossible to track and submit relevant information to your industry regulators and SARS without company bookkeeping. Not to mention the penalties and fines for incorrect or late reporting.

Making bills, keeping track of down payments, preparing you for tax deadlines, and processing payroll are all responsibilities. Bookkeepers provide a wide range of services to small businesses.

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Why hire us for your bookkeeping?

Overall, some of the benefits for small businesses that outsource bookkeeping services include:

Cloud bookkeeping solutions in Cape Town: the benefits of outsourcing to Thryv Accountants

A growing company does not need to recruit full-time bookkeepers and accountants. It is possible to outsource it for a fraction of the cost and gain additional benefits.

Our specialised team of professional bookkeepers in Cape Town can perform the majority of your business bookkeeping swiftly, accurately, and efficiently. This allows you to devote more time to projects that add genuine value to your company.

We’re ready to answer any of your questions – Reach out to us to find out how you can get started in outsourcing your bookkeeping services, by scheduling a call or dropping us a message.

What our clients say

Client Reviews

Pete LowesPete Lowes
14:23 27 Feb 24
I agreed to work with someone called Conrad – and as soon as I signed, he ‘left the company’. Very strange, but I persevered, agreeing to pay for their top package for management accounts, payroll and basically all accountancy services. I now found myself with someone called Arnaud. Not for long, as I was swiftly palmed off to someone else.Over the last month, they’ve become really unhelpful, so we asked to leave. They’ve been charging us a registered representative fee for several months when their representative wasn’t registered at all. They’re completely ignoring this point and refusing to refund the months when no one was registered from Thryv on our behalf.They’re now trying to claw more cash from us to get the management accounts for months that we already paid for.Untrustworthy, unreliable and greedy. Don’t do it.
Sumehn SewrajSumehn Sewraj
21:31 18 Aug 23
Had the pleasure of working with the team for 5 months. Extremely professional and knowledgeable in all accounting aspects. 100% recommend!
Arnaud BrunelArnaud Brunel
18:46 18 Jun 23
I recently had the pleasure of engaging Thryv, an outstanding accounting firm based in Cape Town, and I cannot recommend their services enough! From start to finish, my experience with Thryv has been nothing short of exceptional.Their team of dedicated professionals possesses an impressive depth of knowledge and expertise in accounting. They effortlessly handle a wide range of financial matters with utmost precision and attention to detail. Whether it’s tax planning, bookkeeping, or financial statements, Thryv has consistently exceeded my expectations.The moment I reached out to Thryv, I was greeted with warmth and professionalism. The team listened attentively to my needs and tailored their services accordingly, providing personalized solutions that were tailored to my unique circumstances. Their willingness to go the extra mile truly sets them apart.What I appreciate most about Thryv is their unwavering commitment to delivering timely and accurate results. Deadlines are consistently met without compromising the quality of their work. They navigate complex financial regulations and tax laws with ease, ensuring compliance and peace of mind.Moreover, Thryv’s transparency and open communication foster a strong sense of trust. They take the time to explain intricate accounting concepts in a manner that is easily understandable, empowering clients to make informed decisions. It’s refreshing to work with a firm that values client education as much as they do.In addition to their exceptional service, Thryv’s location in Cape Town is an added bonus. Situated in one of the most vibrant cities in the world, their proximity to local businesses and industries gives them a unique understanding of the regional economic landscape. They are well-equipped to address the accounting needs specific to Cape Town-based businesses.In conclusion, I wholeheartedly recommend Thryv for all your accounting needs. Their professionalism, expertise, and commitment to client satisfaction make them the go-to choice in Cape Town. When it comes to financial matters, Thryv is the firm you can trust to navigate the complexities of the accounting world seamlessly.
Adele LokkerAdele Lokker
13:50 19 May 23
More than 5 stars! Thryv is a breath of fresh air. Their professionalism, expertise, and quick-response is what makes their service stand out. The best accounting firm in Cape Town!
Lee-Anne WebsterLee-Anne Webster
07:44 18 May 23
Excellent service. From the initial meeting to onboaridng everything was explained. Thank you to everyone at Thryv. Professional in every way
Tahn HendricksTahn Hendricks
12:50 13 Mar 23
Friendly, efficient and reliable service – I would give 10 stars if I could!
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