Outsourced Accounting and Bookkeeping Service Solution
We’ve got your business accounting and bookkeeping needs covered, giving you time to focus on more important aspects of growing your business.
Growing a successful business demands time and energy. Those are limited resources and there’s only so much to allocate – something’s got to give. We are here to offer that much-needed support for your business’s finance and accounting needs, the area of business that is often neglected in favour of core business deliverables.
We want you to know that your business can have it all, you simply need the right finance team at your fingertips. And that’s us!
Our outsourced accounting and bookkeeping service solution includes:
Bookkeeping Solution
We capture all your bank transactions, purchases, sales, and expenses into our easy-to-use accounting software, called Xero. This gives you a clear track record of what’s going on at any time.
Monthly Management Accounts
At the end of each month, we classify, report, and analyse your financial information. You receive a set of financials, including reports such as a balance sheet and profit and loss. This gives you insight into your business activity, offering accurate information to base business decisions on.
Value-Added Tax
Businesses over a certain threshold are required to register for VAT. We take care to minimise the amount payable by claiming all the allowable VAT on purchases and expenses. Most importantly, we give you a heads up well in advance of what your VAT payment is going to be at the end of the period, so that we can plan your cashflow accordingly.
Payroll Services
We offer an end-to-end payroll solution, which includes payslips, leave management, and SARS filings. All managed in the cloud for easy access by you and your team.
Annual Financial Statements
Companies are required to produce a full set of financial statements each year, for submission to CIPC and SARS. This includes your monthly management accounting reports, only more detailed and covering the full-year period.
Tax Services
Individuals and companies are required to submit tax returns at least once a year and sometimes once every six months. We help you structure your business entity and personal tax affairs, so that you pay the lowest allowable amount of tax, whilst remaining fully compliant with regulations.
Outsourced CFO Services
You don’t need to have a CFO to benefit from the value a CFO provides.
Chief Financial Officers, or CFOs, are experienced finance professionals who act as the CEO or business owner’s right-hand person. They are often a sounding board for critical strategic decisions. The CFO offers value from having worked in many different industries and countries and often in different financial and commercial roles too.
Spoiler alert – that’s us!
We are your outsourced CFO. Our commercial services provide insight on financials and performance that goes above and beyond simply reporting the numbers. We tell the story behind those numbers, and work with you to develop a strategy to achieve your business’s targets.
We also assist with risk management and implementation of internal controls. Businesses face different risks as they grow, and this becomes increasingly important when external shareholders or grant funders are involved.
Every business can benefit from working with a CFO, whether it’s a project-based engagement for a few hours, or a regular monthly retainer service.
Some of the roles and responsibilities we will assume include the following:
Offering start-up metrics and KPIs
Developing a turnaround strategy
Cash flow forecasting and budgeting
Investor or fundraising readiness
Process improvement
Risk and internal controls
Software development advisory
Outsourced Payroll Services
Your Pay-Per-Payslip Payroll Resource
Payroll is an essential element of a functioning business, but you don’t need an in-house team in order to manage it effectively. Don’t put off registering for PAYE, SDL or UIF. Get compliant from Day 1 and ensure your staff members are well looked after.
Competitive Pricing
No restrictive software license fees or permanent payroll staff required, pay only for what you need
Data Security
Peace of mind that there is no risk of sensitive data being leaked out of the organisation
Compliance
Rest assured that your SARS and Department of Labour compliance matters are taken care of.
Continuity
Employee turnover doesn’t need to affect your payroll solution. With us, there are no disruptions
Cloud Based
Our cloud-based payroll solution ensures your employees have access to the data they need at all times. They can apply for leave online and their payslips are at their fingertips 247.
Paperless
Saving the planet one payslip at a time. Only print a payslip when you have to. IRP5s are also handled in a paperless fashion and employee files are uploaded electronically
Not For Profit Services
We have many years of experience in the NPO sector and value their importance to society. To that end, we’ve made it our business to support them. The decision to expend funds on overheads in lieu of programmes is a tough one and most not-for-profit organisations make the decision to keep their overheads lean. However, funders (private philanthropists, foundations, and institutional donors) often expect the organisation to have adequate internal governance and financial processes in place before they approve any funding.
Catch 22? It doesn’t have to be. Thrive is here to bridge that gap.
Our team has a wealth of not-for-profit expertise spanning from South Africa to UK, USA, as well as Australia.
We take the place of a full-time finance team to ensure that donor requirements on internal controls are met. We ensure your day-to-day running, cash flow management, donor-specific reporting, and compliance needs are taken care of.
Our vast experience on large institutional donors, including USAID (ensuring all CFR200 compliance), The European Commission, DFID, The World Bank GIZ, and many more, help us inform the best solution for your not-for-profit.
We will train your implementation team on all donor compliance matters so that funds are not considered disallowed by the donor.
Training
Learned skills will never go unused. We often work with clients who want to gain a deeper understanding of how their finances work, what the numbers mean, and how they translate into cash flow. You can better equip your operational (non-financial) staff with basic finance knowledge on matters such as budget, variance analysis, profit, and loss, and more. These skills are invaluable. If you are ready to manage your finances in-house, we are ready to support the handover process and equip your teams with the knowledge to take control.
Our training will always be tailored to your specific needs.
We bring in other experts if we need to, always offering you the best possible solution.
We can design and develop interactive e-learning modules for you, using software such as Articulate Rise and full e-learning platforms on open-source software such as Moodle.
Let us Help you Leverage Better Business Opportunities
Start with a free health check to assess where your biggest requirements are. From there, it’s a smooth journey to having your accounting and finance needs managed, once and for all.