Libra Bookkeeping and Payroll Services

A business needs accurate and up-to-date bookkeeping for two main reasons – to determine the amount of taxes and VAT to be paid and to understand how your business is doing. These tasks can be done as follows: • In-house by an employee or full time bookkeeper – this option is normally expensive. If a qualified bookkeeper is employed the cost to company can be exceptionally high. • By the business owner – inexpensive but very time consuming. Most business owners are not qualified in all the aspects of bookkeeping and mistakes can have serious consequences for the business and the owner/s. • By an Accountant – this option is very effective but extremely expensive as Accountants are highly qualified and therefore charge accordingly • This brings us to the fourth option: Outsourcing the bookkeeping and payroll functions is: • Inexpensive – thereby saving the company time, money and any HR problems that may occur with a permanent staff member. • Effective – an outsourced bookkeeper will submit all information correctly and on time. • Management Accounts – submitted monthly to the owner/manager thereby keeping him/her informed of the business’s financial position and performance at all times. • SARS – all reconciliations submitted to the owner/manager for payment in order to avoid penalties.