Engaging a full-time accountant for startup and SME bookkeeping in Zimbabwe is costly.
Why would you pay more if you can contract professional bookkeepers to do accounting books on your behalf affordably?
Bookkeeping in Zimbabwe
Information is power when it falls into the right hands, right?
What more about having your financial books being maintained on real-time basis, giving you a true reflection of where your business stands every minute when a transaction happens?
Our contract bookkeeping in Zimbabwe is cloud based, offered on real-time to businesses in Zimbabwe.
This allows business owners to access their financial information anywhere using smartphones, tablets, laptops or desktops for making timely decisions that grows their SME businesses.
Our bookkeeping services to company owners in zimbabwe
With our bookkeeping services, business owners will have the freedom to focus on core business activities whilst we maintain their accounting books.
We do not manage their books only but we go further helping them understand their financial state better, giving that advice which grows and makes business succeed.
- Provide hardware or use already existing equipment
- Setup a bookkeeping system and have it running
- Record all transactions as they happen in real-time
- Report accurate financial status of businesses
- Give periodic financial advisory to business owners
The bookkeeping process to help better manage finances
We execute the bookkeeping process following a systematic approach. Below are the major activities involved when conducting the bookkeeping process in Zimbabwe.
1. Setting the basics
This involves choosing to operate on cash-basis or accrual-basis.
Cash basis records a transaction when cash is received whilst accrual records it even when cash doesn’t exchange hands.
The choice differs with business type but knowing which basis to choose sets a foundation for successful business.
2. Designing a Bookkeeping System
We lay out the basic structure that defines your books of accounts.
This involves establishing a systematic bookkeeping cycle custom built to suit the type of your business.
3. Business Road Mapping
We help you setup a custom Chart of Accounts for your business.
This is organised to make it easy to produce required financial statements.
All accounts related to financial statements will be identified and listed.
4. Design controls for Records and Money
We create strong internal processes and controls to curb any possibility of fraud before operation commences.
The system lays how employees handle cash and company assets whilst a backup plan for data storage is worked on.
This is vital in deciding the future of your business.
5. Tracking & Monitoring Sales and Purchases
Every business owner needs to know and track every dollar that comes in and out of the business.
Journals and ledgers are set to capture all transactions for financial reporting purposes.
This will keep accurate and updated records of all sales and inventory trends for avoiding under/overstocking.
6. Paying your employees
It is the responsibility of every employer to make sure employees are paid accurately.
We ensure all required government documents are dealt with when a new employee is hired.
Other staffing issues like payroll management, paying all employee tax due are some of the things we do on your behalf.
7. Employer tax & testing your books
At the end of an accounting period, we test all transactions to check if all were captured and accurately recorded.
We will balance your books, starting with checking the accuracy of the cash balance, then move on to the trial balance, find errors and correct them.
Therefore all receipts should be kept as supporting trails to used when need arises.
8. Preparation of Financial Statements
Having put all transactions in order, the need to summarize them follows.
We prepare the income statement together with the statement of financial position for your business.
These two statements will show the overall financial health of your company as of that particular date.
Your accounting period can be weekly, monthly, quarterly or yearly basis.
Who can engage our contract bookkeeping services?
Every Small Medium Enterprise (SMEs) can engage our bookkeeping services since we have different packages that suits perfect.
These SMEs range from Private Business Corporations (PBC) to Private Limited Companies (PLC) located in any part of Zimbabwe.
Our bookkeeping services covers the whole of Zimbabwe, so don’t let distance be a barrier to hire us. You can engage us as your next contract bookkeepers if you operate.
- All sole trader businesses.
- Every startup business in Zimbabwe.
- Small Medium Enterprises (SMEs) in Zimbabwe.
Why you need to engage us as your Contract bookkeepers in Zimbabwe?
Our contract bookkeeping services in Zimbabwe is a solution to help SME businesses and their respective owners understand their financial position better.
This is done through giving actionable financial decisions and strategies to grow their businesses. You can equate this to having a dedicated virtual bookkeeping adviser for your business.
If you contract bookkeeping work to us we will do the following:
- Capture and record business transactions as they happen.
- Create financial statements and periodic business reports.
- Calculate income tax and quaterly(QPD) provisional tax and Pay As You Earn(PAYE).
- Help you better understand your business financial position.
- To help you make financial decisions that grows your business.
Pre-requisites for bookkeeping in Zimbabwe
To setup a bookkeeping system for your startup or SME business we will need the basic computing equipment, software and internet connectivity as shown below.
- Your need a computing device e.g. smartphone, tablet or personal computer.
- Our bookkeeping software application.
How much will Bookkeeping services cost you?
Our bookkeeping services are relatively cheaper when compared to charges of majority bookkeeping consultants in Zimbabwe. Why?
Because at Company Reg 263 we believe in helping every startup and SME businesses needing to manage their finances at an affordable charge.
the accounting systems to be custom made before being used. This involve
- Accounting system setup & configuration – $50 – one off payment
- Record and tracking daily, weekly and monthly transactions – $ 80 / month
- Preparing end of financial year statements – $80 / year
- Whole bookkeeping package – $125 / month