Wednesday, 19 June 2024

In Finance

Financial Accounting for Growth of Startups in SA

South African businesses are investing in Nigeria, and Nigerian business owners are investing in South Africa – the latter needing sound accounting and advisory services in order to grow their small businesses in South Africa.

In selecting an accounting consulting firm, many foreign owned businesses look for consultants that are efficient, adaptable, wise, and NRB Accounting brings this to the table for all businesses, as they have an international and diplomatic approach to their customer relations management.

NRB Accounting makes Financial Accounting easier, faster, and most importantly, cost effective. NRB Accounting is an Accounting firm established at the beginning of 2018 with its primary focus on financial services to clients; these services ranging from Accounting, Taxation and Advisory.

The company has positioned itself as a specialised one stop shop for SME’s to receive a comprehensive tailor-made financial service product. NRB Accounting is a Level 1 BBBEE Contributor, the company’s management has wealth of experience in assurance and non-assurance services from both the Public and private sector.

NRB Accounting prides itself in the provision of what is called Digital Accounting, thus the delivery through digital means, of services such as Accounting, Taxation, Advisory, and Other Services.

NRB Accounting is operating in a digital space, our services are offered through cloud accounting, our accounting system enable us to perform these tasks and more in an efficient and cost-effective manner. The system is linked to the business Account, whenever a business transaction occurs our systems concurrently updates and populates a transaction line.

The benefits of Digital Accounting include Quality service with prompt timing, reduced financial costs, access to real time reporting, accessible anytime and anywhere, information is safely secured and backed up, easy to use Accounting software, and there is access to a dedicated Accountant. It is vital that directors of the company have access to their Accountants as they conduct business, in order to make informed decisions in real time. NRB Accounting ensures that an Accountant is on high alert with the use of technology.

As relationship matters in business, NRB is looking for clients to build long term and sustainable business relationship with, as our business model is in adding value through offering a Comprehensive Digital Accounting Service that the client needs, offering the service faster and in a cost-effective manner.

The Accounting services include offered include Preparation of Annual Financial Statement, Review of Annual Financial Statements, Cash Flow planning and projections, Monthly Bookkeeping, Payroll administration, Asset Management, and Inventory Management.

The Taxation services offered include Annual returns, Tax planning and advice, Personal & Corporate tax returns, VAT, PAYE, SDL, UIF registration and returns, and Tax dispute resolutions.

The Advisory services offered include Audit readiness support (Prepare for audit), Budget planning, preparations and reviews, Preparation of monthly management reports, Internal Control and legislation compliance reviews, Implementation of audit recommendations, Financial Management services (Outsource finance division), and Cost containment, revenue improvement strategies.

The Other services include CIPC Administration (Company registrations, Share certificates, NPO registrations, Tax clearances, BEE Certificates etc.), Compiling of tender documents, School governance, and Technical Consultation on legislation (Companies Act, IFRS for SME’s, Corporate Governance, IFRS, GRAP, MFMA, PFMA, Modified Cash standards etc.).

We have an internal review process that enables us to produce and provide accurate financial information. Their business model is designed such that enable its clients to receive value added service, a dedicated accountant, consistent internal controls review to enable smarter financial decisions.

Visit NRB Accounting here.

Cabanga Media Group publishes of thoughtful economic and business commentary magazines and online media, in several African markets, that include South Africa, Botswana, East Africa Community, Ethiopia, Egypt, Nigeria, and Zambia.