Accounting and Tax Blog

5 reasons you should be using an Accountant

  Gavin Bacon   Oct 28, 2014   Durban Accounting   0 Comment

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DATC provides a hands on approach to all our clients’ needs and combines 25 years of experience and credibility from the well-known PATC. Our focus is on accounting and tax services as well as guiding our clients to proper Corporate Governance practices with supporting bookkeeping and company secretarial services.

1. More time on your hands to focus on your business

pic1Your accounts and taxes should not be neglected or left to the last minute. It is important to pay meticulous attention to detail when managing your accounts. Outsourcing to an accountant can save you time, time that you need to be able to focus on the other things that make your business run smoothly and successfully. There can be serious implications to a business when irregularities due to accounting mistakes are identified during an audit or tax submission. It is therefore vital that your accounts are kept up to date. Mistakes can easily be avoided by recruiting the right people to the job.

2. Tax saving strategies

Hiring an accountant will not only help you to keep your accounts up to date. A professional accountant will help you with tax legislation and also offer strategies on how to best minimize your tax liabilities by using the available rebates and tax deductions as per the various tax legislations.

Don’t miss out on the opportunity to claim tax savings, rebates or credits due to your business! You need someone who understands what expenses can be claimed. These expenses may include; home office, childcare or travelling costs.

3. Security in knowing that your books are in order

It is an accountant’s job to take care of your books. Having an accountant will give you peace of mind in knowing that;

  • Your year-end accounts are prepared
  • Your bookkeeping is done
  • The correct payment of taxes are made
  • You can receive guidance and assistance through an audit if necessary and
  • An overall understanding of your financial needs is made

When selecting an accountant one should make sure the individual is knowledgeable, reliable and trustworthy. This person needs to understand your company’s financial position in order to be able to give you advice on how to go about doing your financial administration.

4. Be up to date with the changing laws and regulations

It is essential for businesses to employ the services of a professional accountant who is knowledgeable about the forever changing laws and regulations. A professional accountant will be able to tell you which laws apply to you and your business. It is difficult enough to run a business, you don’t want to have to worry about the complexities of things you are not qualified in.

Do not try to spread yourself thin, you then run the risk of missing out on these changes. At DATC we are up to date and well informed on these laws and regulations. Contact us today.

5. Invaluable Financial Advice for your business

An accountant will be able to advise you on several financial aspects to your business. DATC will be able to help you with your business planning, profit forecasts, break-even analysis and business performance analysis.

Do you need to know when to raise finance?

Are you unsure about the decision to lease or purchase your new capital assets?

Are you anxious about making a decision on a loan or increasing your overdraft?

DATC (Durban Accountants and Tax Consultants) can help with all of the above. Our Accounting Services include;

  • Annual Financial Statements
  • Independent reviews for companies
  • Cash Flow Forecasting
  • Business Plans

Do you want to speak to DATC about your accounting needs? Contact us today!

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