LINDEN ACCOUNTANT

I'm Kevin Masarakufa, and I bring a wealth of financial expertise to the table. With a Postgraduate Diploma in Accounting Sciences (CTA) and a BCom in Accounting, my academic foundation is strong. My career journey has been dynamic, encompassing roles in both auditing and accounting across a range of industries, including general commercial, media & entertainment, manufacturing, logistics, retail, and FMCG.

My passion lies in streamlining financial operations. I'm skilled in establishing efficient accounting processes, managing debtors, overseeing accounts payable, ensuring tax compliance, and preparing accurate financial statements. As a member of the South African Institute of Chartered Accountants (SAICA), I hold myself to the highest professional standards.

Beyond the world of finance, I'm captivated by technological advancements that are reshaping the accounting landscape. In my leisure time, I'm an ardent sports enthusiast, with a particular love for football, rugby, and cricket.

I'm dedicated to making a positive impact through financial expertise, technological innovation.

We are a cloud accounting service firm that focuses on providing efficient accounting solutions for your business and assistance in exploring opportunities for further growth. We believe in creating great relationships with our clients and fostering long-lasting partnerships.

Topic: Benefits of outsourcing your accounting services

What is outsourced accounting and why should you consider it?

The decision between outsourcing your accounting function vs having an in-house accounting department is one of great importance. In this post, we will delve into the benefits and considerations one needs to take into account when deciding on whether to outsource the accounting function of the business.

Outsourced accounting occurs when an individual/business hires a third party whose main role is to manage the businesses/individual's finances. The third parties that the business opts to utilise may vary depending on the size of the company and also what works best for them. Independent contractors or a firm of accountants are examples of third parties which businesses hire and their role is to manage the business's accounts as well as ensuring that they comply with the necessary financial rules/regulations that have been put in place.

It is also important to note that outsourced accounting is broad and there are different kinds of accounting services that are used such as:

1. Accounts receivable (AR) /accounts payable (AP) management – this is where the outsourced accountant is responsible for tasks such as; expense reporting, customer billings and payment as well as debt management.
2. Bookkeeping - Outsourced accountant is responsible for tasks such as; payroll management, establishing modern bookkeeping systems or software and processing invoices.
3. Drafting financial reports/statements.
4. Controller services - This service involves; cash flow analysis, audit reporting, ensuring that policies are adhered to and compliance management.
5. Financial planning/analysis - This service provides you with the necessary information based on data that has been collected in order to for you to make the correct decisions which positively affect your business from a financial perspective as well as it providing you with information on the current financial position which your business is in.

2.  Why Outsourced Accounting Services?

The reality is that many entrepreneurs and small businesses do not have the time or sufficient resources to be able to handle their own financial affairs without any assistance. Dealing with various financial issues such as adhering to tax law as well as navigating how to deal with unexpected expenses that negatively affect the business can be quite overwhelming to deal with, especially for entrepreneurs and small businesses who may not have access to adequate and necessary expertise in order to handle such situations.

While outsourced accounting was previously available only for medium and large businesses, it is now a service that is accessible to both entrepreneurs and small businesses. Here are just some of the benefits outsourced accounting can provide for you :

• Cost-effective

The alternative to outsourced accounting is having to employ accountants as well as going through the effort of training and developing in-house accounting teams which may be more costly for small businesses and entrepreneurs who may not have the necessary funding to facilitate that. The ramifications of having in-house accountants mean you have to pay also have to pay for employee benefits and make sure that they have the necessary software and equipment in order for them to do their job effectively.

As a small business, these expenses can accumulate in a very short period of time and can negatively affect the financial position of the business. When you outsource your accounting services you don’t nearly have to stress as much from a financial perspective and it also saves small businesses and entrepreneurs a lot of money and time. It also gives you as a small business/entrepreneur the freedom to choose who and when you need them.

• It saves you a lot of time.

Managing the financial side of the business operations internally takes up a lot of time and this also means that as a small business or entrepreneur, you have less time and resources to invest and develop other significant areas of the business which are essential for the business’s growth. Opting to hire outsourced accounting services not only alleviates the responsibility and pressure on management, it also simultaneously allows the business to invest and improve other areas of the business which may result in the business growing at a faster rate.

• Improves Financial Reporting

By hiring outsourced accounting services, the risk of fraud and error Is reduced due to the fact that the outsourced accounting services are usually performed by highly skilled individuals who are also retained based on the quality of the work they perform thus reducing the incentive to be involved in fraudulent activity. This gives you, the entrepreneur or small business the assurance that your finances will be dealt with accordingly and that experts and specialists in accounting will be the ones overseeing and handling the business's finances.

Entrepreneurs and small businesses can save a lot of money and time by utilising outsourced accounting services. It not only ensures that the business is competent from a financial perspective but it also can increase the rate at which the business grows because opting to have outsourced expert or specialised accountants alleviates the financial burden on the business while also allowing resources and capital to be distributed to other areas of the business which may need more focus and attention on.



- FALWARD Admin