Accounting Services

Introduction to Business Services Outsourcing (BSO)

At Business Boutique, we offer comprehensive services in accounting, tax, advisory, and regulatory compliance, designed to help businesses expand, enhance efficiency, and develop strong leadership. Our outsourcing solutions, whether fully or partially implemented, provide significant advantages for businesses of all sizes.

Start off right with properly established accounting procedures or make necessary improvements with best-practice technology, efficient systems, and expert guidance. Outsourcing allows companies to boost adaptability and improve their bottom line. Our experienced teams deliver high-quality, expert services and continuous supervision, tailored to meet the needs of businesses of every size and scope, whether insourced or outsourced.

Bring your outsourcing needs to our BSO one-stop shop. Let’s start this new chapter together.

Our Entrepreneurial Business Services team will advise and personalise your needs through the following processes:

  • Checklist for avoiding outsourcing mistakes
  • Spending time developing a long-term connection yet maintaining your independence.
  • Formalising our contractual obligations whilst paying close attention to any potential additional fees.
  • Service levels should be evaluated regularly.
  • Addressing issues as they emerge. Repairing faulty processes in-house before entrusting them to a third party.
  • Check if the service is keeping up with changing requirements and technologies.
  • Maintain control and avoid being excessively dependent on the supplier or service provider.
  • Evaluating the many choices for establishing a business in certain countries, as well as determining the most tax-efficient legal structure
  • Company registration paperwork must be completed and legally filed.
  • Assisting with the establishment and maintenance of financial records and reporting
  • Upkeep of fixed asset registrations
  • Assisting with registering and filing direct and indirect taxes (VAT/GST).
  • Ensure compliance with domestic and international tax requirements, such as corporate income taxes, social security taxes, state/provincial and municipal income taxes, property transfer taxes, stamp duties, and sales taxes.
  • Creating bank accounts and a legal cash management function
  • Consultation on cross-border transactions and profits repatriation
  • Completing ex-pat tax returns.

We Offer a wide range of financial and outsourced services to organisations of all sizes and sectors, including:

  • Finance and Accounting Technology
  • Daily accounting and routines
  • Annual accounting, financial reporting and advisory
  • Fully managed payroll
  • Tax smart
  • Independent reviews
  • Specialist accounting/advisory (Trust, Wealth, Legal, Business rescue)
  • Outsource Services (full list Below)

Outsource Services

  • Annual financial statements, trial balance
  • Annual reviews
  • Balance sheet and shareholders’ equity statement
  • Business planning and advisory
  • Business rescue
  • Business Intelligence
  • Cash Flow Statements and forecasts
  • Company secretarial
  • Data Analytics
  • Expert services
  • Financial reporting
  • Fully managed payroll
  • General accounting
  • Global compliance and reporting
  • Human resources consulting
  • Income statement
  • Legal service
  • Liquidations
  • Management reports
  • Monthly management accounts
  • Monthly review
  • Payroll, end-to-end
  • Preparation (forecasts, trial balance, reports)
  • Reviews and advisory
  • Wealth advisory

Accounting and Finance Technology

As a BB client, you are welcomed into an environment dedicated to your success and performance. We are adaptable and customer focused. Structured to provide services that expand with you. There is no such thing as off-the-shelf with us. Small, medium, or large – your company has distinct goals; thus we provide customised thinking and innovative solutions.

While our services differ, the principles we follow are consistent:

  • The most recent technology, continuous improvement, and realistic business advice and assistance
  • Set up from the beginning. Improve software. Use accounting methods and practises that are appropriate for the situation.
  • Larger businesses can improve as well if they evaluate their performance to best-practice accounting, technology, and processes; don’t put off updating.
  • What are the best practises at BSO?
  • Time saved equals money saved.
  • Simple systems result in satisfied customers.
  • Automation (bank and payroll feeds; processing; backups) (bank and payroll feeds; processing; backups)
  • End-to-end assistance
  • Data that is accurate and of high quality; centralised storage

Auto capture; single entry for many systems (feeds)

  • Centralised database
  • Accessible at any time and from any device.
  • Real-time data and reports; quick decision making
  • Collaboration and sharing will be easier for key parties (banks; accountants; funders; shareholders)
  • Management assistance
  • Rapid decision-making and reporting
  • Analysis and performance enhancements (cash flow; management reports; advisory)
  • Finance and technology services provided by BSO
  • Recommend and put in place the appropriate technology and processes.
  • Improve setup by matching operations to functionality.
  • As needed, add-ons and apps
  • Data transfer
  • Management of Change
  • Smooth the transition; make the most of best practises.
  • Aftercare and training
  • Assistance with implementation, processing, and reporting
  • Connect with BSO advice services.
  • Application advisory; updates; certifications

Outsourced daily accounting and routines

We are committed to hiring and training intelligent individuals to the highest standards. Quality begins with the first step of the accounting process, and strives to provide accurate and up-to-date data in our reports and guidance.

In addition to providing analysis-ready reports, our experts regularly monitor your financial affairs and cash flow to identify and address potential issues before they become problematic. This proactive approach allows us to provide valuable support and peace of mind to our clients.

  • Daily, weekly and monthly accounting, reports and financial management
  • Live data and dashboards for real-time access and easy-to-read reports (financial and operational, productivity)
  • Accurate and compliant data and reports required by management, banks, stakeholders, loans, investors, SARS etc.

 

BE ASSURED

Daily transaction processing and accounting

  • Treasury (including invoicing, accounts receivable and payments, banking)
  • Debtor/creditor administration
  • Expense, purchase orders, cash management
  • Foreign currency transactions
  • Routine tax affairs (VAT, company, personal, compliance)
  • Payroll duties (company and staff); WCA, UIF
  • Cash-flow updates; stock control duties
  • Monthly management accounts
  • Preparation (accounts, forecasts, trial balance, tax, reports)
  • Monthly review

Monthly management accounts

Smart businesses produce regular management accounts to understand their businesses better and to inform decisions, tax planning, performance plans and cost control.

  • Key performance indicators (budget v forecasts)
  • Profit and Loss statement
  • The cash position
  • Cash-flow

Annual Accounting, Reporting and Advisory

The components of financial statements reveal the current financial health and position. Your BSO teams will aid with identifying potential issues or highlighting future hazards, as well as scenario preparation and current/future mitigation methods.

  • Use forecasting to model scenarios for improved cash-flow
  • Use cash-flow forecasting to avoid or manage risk and to demonstrate your ability to manage investment responsibilities
  • Be confident in accurate and compliant reports as required by head office, banks, loan finance and SARS. And for stakeholders, funders or investors.

BE ASSURED

Financial reporting and advisory

  • Annual financial statements
  • Income statement
  • Balance sheet and shareholders’ equity statement
  • Cash flow statement and forecasts
  • Review, management reports

Fully managed payroll

In the field of payroll, businesses are frequently oblivious to the scope of their responsibilities, as well as the danger and possible expense of noncompliance or even temporary failures. The payroll ecosystem is complicated, with multiple stakeholders, time-sensitive payments, and a number of interdependent processes.

The BSO completely managed outsourced payroll system is designed as a one-stop shop for all payroll-related needs. We utilise the most up-to-date cloud software handled by a team of seasoned payroll specialists, with systems and processes in full accordance with local regulations. At BSO, you also have access to and oversight by professionals who prioritise your company interests, manage regulatory compliance, and keep abreast of evolving legislation:

Reduce expenses and free up time to concentrate on core business and productivity.

Avoid penalties and complications

Enhanced protection

scalable payroll technology integrated with accounting system

Maintain payroll expertise without the expenses of having in-house personnel and a department.

Admin, tax, accounting, payment, and personnel issues are integrated; records, employee tax returns, and accounting ledgers are maintained.

Payroll services and compliance

  • Personal information and records at SARS and Dept. of Labour
  • Local and expatriate salaries, compulsory deductions (UIF, WCA)
  • Processing, withholding, on-time payments
  • Income and payroll tax deductions, IRP 5’s, payslips
  • Tax remittance, forms and declarations, managed SARS and labour affairs
  • Leave management, HR duties
  • Billings, timesheets, expenses

Cradle-to-grave human resources outsourcing, optimisation and advisory solutions

Independent Reviews

You want to verify that your financial accounts have been thoroughly reviewed by an impartial third party, but your company is too small for a formal audit. An Independent Review is an alternate assurance engagement in which the independent reviewer provides less assurance on an annual set of financial statements than the external auditor.

Independent Review services

  • Limited assurance (e.g. for banks, creditors, investors, potential purchasers)
  • Review of Annual Financial Statements (AFS)
  • Compilations (e.g. AFS in accordance with IFRS and IFRS for SMEs
  • Assurance in the form of Independent Reviews of financial statements in accordance with ISRE 2400 and the Companies Act

Furthermore, with our associate members, we frequently aid worldwide firms with the following:

  • Real estate transactions in other countries, including introductions to real estate leasing agencies, bankers, attorneys, and other reputable professional service providers.
  • Visa and work permit applications
  • Employment planning, including human resources and local legislation governing employee hiring/sourcing
  • Payroll administration and remuneration planning
  • We are creating and submitting tax documentation/returns.

Specialist Accounting and Advisory

You obtain an integrated advisory service when you work with BSO for routine and advanced accounting and financial services. Your BSO team will assist in the management and resolution of regular issues and, where necessary, will seek specialised and professional guidance from our network to guarantee optimal financial health and performance. We can help with:

  • Trust accounting
  • Wealth Advisory and financial planning services for high-net-worth individuals
  • Legal advice
  • Company secretarial, through our associate company
  • Financial oversight (and outsource CFO)
  • Corporate (finance, law, governance); regulatory
  • Business management
  • Business restructuring
  • Liquidations
  • Employee Benefits
  • Healthcare Consulting
  • Human Resources Consulting

Overview of Services

Outsourcing of Financial Services

We will help your organisation decrease operational expenses while preserving accurate records and financial integrity, from daily bookkeeping to transaction processing, billing, and collections. Outsourcing these operations to the Business Boutique frees up your management team to focus on expanding your market reach, generating business improvements, and exploring new possibilities.

Taxation

Together with our associate firms, we provide tax compliance, tax planning, and tax advisory services to incoming and outbound international corporations. We can assist you in taking advantage of tax breaks and avoiding hidden tax traps.

Forming a foreign corporation

  • Compliance: Corporate and Personal
  • Tax Planning – Estate Planning
  • Tax Optimisation

Employers' employee perks and other services

Professionals with knowledge in all elements of employee benefits and pension provision, as well as specialists in HR advice and payroll services, are available. Our Associates can help with the following:

  • Compensation planning
  • Design, implementation, and operation of a share scheme
  • Pension administration and consulting
  • HR assistance
  • Payroll processing
  • Services for people management

The Business Boutique advantage: Services for Entrepreneurial Businesses (EBS)

Many businesses have recognised that outsourcing financial processes through a wholly outsourced solution package may provide a competitive edge, allowing them to focus on their core company.

Many foreign corporations and subsidiaries outsource their finance function due to cost-effectiveness, a scarcity of well-trained financial employees in the marketplace, and limited internal capacity to hire individuals directly in the business. They may also rest easy knowing that their chores are handled by specialists who are well-versed in local legislation.

The benefits of outsourcing will be heavily influenced by the volume of financial transactions conducted by a firm daily. Some businesses decide to maintain bookkeepers on staff while outsourcing the tasks of the chief accountant. Minor difficulties may be handled better in-house.

Other advantages include the following:

  • Being able to concentrate on crucial matters
  • Control and business assistance
  • Cultural disparities
  • Flexibility
  • Continuous enhancement

Financial Outsourcing and Global Expansion

Taking your business worldwide demands an entrepreneurial spirit coupled with rigorous and intelligent planning, which our Entrepreneurial Business Services (EBS) offer, whether you want to extend your client base or minimise business overheads by cutting manufacturing production costs.

Your foreign business development goals should be supported because you must familiarise yourself with the local jurisdiction. You may have access to a wide selection of accounting, tax, business advising, and company secretarial expertise, as well as human resources and payroll specialists, through our independent member businesses. Nexia member businesses’ worldwide specialists can help you by applying their deep understanding of local rules, corporate cultures, and customs.

Examine the market potential for your goods and services.

Plan your strategy strategically to increase your chances of long-term commercial success.

Create a governance structure that is compatible with your growth goals.

Increase your company’s profitability and worth.

Follow international tax legislation.

Much of the knowledge we communicate across borders are outside everyday activity. You may find the best practice most applicable to your business model by drawing on the scale and efficiency of our members worldwide, saving your company time and money.

Our Services

Audit

  • Statutory
  • Information Technology
  • Special Investigations
  • Performance Auditing
  • Non-Financial

Accounting

  • Monthly Management Reporting
  • Reconciliations
  • Financial Statement Preparation
  • Data Capturing

Taxation

  • Compliance: Corporate and Personal
  • Tax Planning – Estate Planning
  • Tax Optimisation

Automation and Digitisation

  • ERP Rollout
  • Graphical SOPs
  • Robotics Process Automation
  • Implementing IT Tools for various processes

Management Consulting

  • Programme / Project Management
  • Business Continuity
  • Asset Management
  • Valuations
  • Financial Management
  • Business Analytics
  • Business improvement/ Process Re-engineering
  • Transaction Advisory
  • Corporate Finance
  • Procurement Management
  • Probity Investigations
  • Payroll

Business Intelligence & Analytics

Use data and business analytics to drive your business intelligence

  • Business Intelligence Analytics Services
  • Marketing Analytics
  • Ad Hoc Analytics and Data Visualization Services
  • Online Analytical Processing
  • Mobile Business Intelligence

Turnaround, Restructuring and Insolvency

  • Situational Analysis: Assessment of companies in distress
  • Restructuring – various optics
  • Due Diligence & Forensic services
  • Distressed Mergers & acquisition
  • Insolvency Practitioners
  • Asset Tracings
  • Business Rescue Practitioner

Value added Services

Technical advice and interpretation.

The Business Boutique’s technical unit comprises qualified and experienced experts who research and produce views about applying accounting and legislative standards and accounting for business structures and actions.

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