If you are looking for some of the best accountants for small business in South Africa, look no further. In this article we will be listing reputable accountants that you can enlist the services of in South Africa. We have made sure to include companies in the main cities of South Africa, i.e., Johannesburg, Pretoria, Durban and Cape Town.
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What accounting is needed for a small businesses ?
Accounting is a profession that deals with the recording of financial transactions, the reporting of these transactions, and the analysis of these transactions. It is a process that has four phases: recording, posting, summarizing, and reporting.
A small business is not a big corporation. It’s more like a mom-and-pop store. It’s not going to be the next Facebook or Google, but it still needs to keep track of its finances.
Accounting services are both essential and complicated for any company, especially when you’re just starting out. When you’re a small business, there are some things that you’ll need that might be different from what your bigger competitors need.
For instance, if you have employees then you’ll need to provide them with benefits and make sure they get paid on time every payday. If you have inventory, then you’ll need to keep track of how much product is in stock at all times so that customers can’t buy something that’s been sold out for weeks already. And if your company has an office space then there will be even more accounting services that come into play such as taxes, property taxes, and rent costs.
What type of accounting is best for small business?
There are two types of accounting a small business can choose from cash-basis accounting or accrual accounting.
- Cash-basis accounting is a simpler form of accounting. It records income when it is received and expenses when they are paid.
- Accrual accounting records income and expenses when they occur instead of when money is received or spent. This type of accounting provides more accurate financial statements because it takes into account the time value of money, but it also requires more work to maintain proper records.
It is generally recommended that a cash-basis accounting is used if the small business owner is doing the accounting themselves. If an external professional accountant is used then it is more advantageous to use accrual accounting as it is more accurate for creating financial statements. The choice between them also depends on what type of business you have and how often you want to report your income to the SARS.
Our list of Accountants for Small Business in South Africa
By Numbers Accounting
If small business tax seems daunting to you, or if your small business is in need of some bookkeeping then consider By Numbers Accounting. The firm is located in Parkview, Johannesburg.
- Website: https://bynumbers.co.za/
- Age: 7 years.
- Services specialised in: bookkeeping, and wills & trusts.
- Services offered: annual financial statements, bookkeeping, company amendments, individual tax returns, IRP6 provisional tax returns, and IT 14 company tax returns.
- Certification: SAICA, SAIT, and SARS.
- Service Languages: English
- Google Reviews: 5.0
- Number of reviews: 1
- Best Review: “Nadine from By Numbers has taken my tax situation and right in the first meeting started sorting issues out and put systems in place so we could manage everything properly ourselves before anding over. I have worked with many accountants, but can recommend her hands down! By Numbers is it for the long run.” – Suzan McCreadie (5/5 stars).
CF0360
With an incredible 4.9 stars from 112 Google reviews, CF0360 has clearly established a track record of amazing customer service. The company has its base in the Little Falls suburb of Roodepoort, west of Johannesburg.
- Website: https://cfo360.co.za/
- Age: 6 years.
- Services specialised in: advisory services, auditing, income tax registration, individual tax returns, IRP6 provisional tax returns, IT 14 company tax returns, and payroll.
- Services offered: advisory services, annual financial statements, auditing, bookkeeping, income tax registration, individual tax returns, IRP6 provisional tax returns, IT 14 company tax returns
- Certification: CIMA, IRBA, SAICA, and SAIPA.
- Service Languages: English
- Google Reviews: 4.9
- Number of reviews: 112
- Best Review: “CFO360 Chartered Accountants & Auditors is a pleasure to work with. We have been a client for 7 years. Everything is top standard, nothing is too much trouble. The staff goes above and beyond at all times and they are very knowledgeable and professional. They are highly recommended to any business accounting needs.” – Leilani Myburgh (5/5 stars).
Bloom & Associates Incorporated
With over 31 years and 70 employees, Bloom is one of the larger firms on this list. It’s worth checking them out if you’re looking for an accounting firm with an extensive history.
- Website: https://www.bloomsa.co.za/
- Age: 31 years.
- Services specialised in: advisory services, annual financial statements, auditing, income tax registration, and individual tax returns.
- Services offered: advisory services, annual financial statements, auditing, company amendments, income tax registration, individual tax returns, IRP6 provisional tax returns, IT 14 company tax returns
- Certification: N/A
- Service Languages: 5.0
- Google Reviews: 2
- Number of reviews:
- Best Review: “Excellent service” – Marnus Ferreira (5/5 stars).
Marcafé Chartered Certified Accountants
Marcafé has a reputation for speedy turnaround times. Small business owners in need of payroll assistance would be wise to consider Marcafé.
- Website: https://www.marcafe.co.za/
- Age: 8 years.
- Services specialised in: advisory services, PAYE registration, payroll, and VAT registration.
- Services offered: advisory services, annual financial statements, bookkeeping, CIBD registration, CIPC registration, COID registration, company amendments, CSD registration, income tax registration, individual tax returns, IRP6 provisional tax returns, and IT 14 company tax returns.
- Certification:
- Service Languages: English & Afrikaans.
- Google Reviews: 5.0
- Number of reviews: 27
- Best Review: “They have a very fast customer service. I highly recommend them & they also deliver what you asked for within a couple of hours after payment. Highly recommended.” – Ayanda Sikhakhane (5/5 stars).
Deyzel Odendaal & Vennote
Deyzel Odendaal & Vennote is joint tied as the oldest firm on this list. Small business owners could gain from the extensive history as well as the services they specialise in.
- Website: https://www.infocusa.co.za/
- Age: 40 years.
- Services specialised in: annual financial statements, auditing, individual tax returns, and IT 14 company tax returns.
- Services offered: annual financial statements, auditing, CIPC registration, income tax registration, individual tax returns, IRP6 provisional tax returns, and IT 14 company tax returns.
- Certification: IRBA, and SAICA.
- Service Languages: English & Afrikaans.
- Google Reviews: 4.7
- Number of reviews: 6
- Best Review: “They have been our auditors for 12 years with excellent service and advice. Deyzel Odendaal has also helped us to register a family trust to protect our assists. Even our wills for both myself and my wife has been done and compiled by them. I can gladly recommend them as skilled and trusted business partners for all your bookkeeping requirements.” – Wally Weber (4/5 stars).
CMV Accountants
Another firm with over 40 years of skin in the game, CMV Accountants also offers the most services on this list and has the most services specialised in. With such a wide variety of services, over 70 employees and so much experience, CMV has a lot to offer small businesses.
- Website: https://cmv.co.za/
- Age: 40 years.
- Services specialised in: advisory services, annual financial statements, auditing, financial planning, income tax registration, individual tax returns, IRP6 provisional tax returns, IT 14 company tax returns, and new company registration.
- Services offered: advisory services, annual financial statements, auditing, BEE affidavits, bookkeeping, business rescue, CIBD registration, CIPC registration, COID registration, company amendments, CSD registration, financial planning, income tax registration, individual tax returns, IRP6 provisional tax returns, IT 14 company tax returns, letter of good standing, new company registration, PAYE registration, payroll, risk management, share certificates, UIF registration, valuations, VAT registration, VAT returns submission, and wills & trusts.
- Certification: CIPC, IRBA, and SAIPA.
- Service Languages: English
- Google Reviews: 5.0
- Number of reviews: 2
- Best Review: “Excellent Accountants!” – Cecile Kruger (5/5 stars)002E
The Business Counter
The Business Counter is an accounting firm that is located in Durban and also offers cloud accounting solutions, for small business owners who need to manage their payroll and finance on the go.
- Website: https://businesscounter.co.za/
- Age:
- Services specialised in: IRP6 provisional tax returns, and PAYE registration.
- Services offered: annual financial statements, CIPC registration, income tax registration, individual tax returns, and IRP6 provisional tax returns.
- Certification: CIPC, SAICA, and SARS.
- Service Languages: English
- Google Reviews: 5.0
- Number of reviews: 2
- Best Review: “Profesional and friendly service. I will gladly refer any business or person to you. Thanks for everything Nicholas.” – Christiaan Barnard (5/5 stars).
Premier Professional Accountants
Premier Professional Accountants can help businesses manage and implement payroll systems. Coupled with a reputation for impeccable service, PPA could be invaluable for small businesses.
- Website: https://pparsa.co.za/
- Age: 10 years.
- Services specialised in: annual financial statements, income tax registration, individual tax returns, and payroll.
- Services offered: advisory services, annual financial statements, auditing, bookkeeping, CIBD registration, CIPC registration, COID registration, company amendments, CSD registration, income tax registration, individual tax returns, IRP6 provisional tax returns, IT 14 company tax returns, new company registration, PAYE registration, payroll, risk management, share certificates, UIF registration, valuations, VAT registration, VAT returns submission, and wills & trusts.
- Service Languages: English
- Google Reviews: 4.8
- Number of reviews: 6
- Best Review: “Thank you so much for the service continue to work hard” – Mandla Phakathi (5/5 stars).
Platinum Accounting
With offices in Musgrave and Westville, Platinum accounting has a lot to offer small businesses in Durban, especially in the areas of tax, financial planning, and payroll.
- Website: http://www.platinumaccounting.co.za/
- Age: 12 years.
- Services specialised in: advisory services, auditing, financial planning, income tax registration, and individual tax returns.
- Services offered: advisory services, auditing, financial planning, income tax registration, individual tax returns, IRP6 provisional tax returns, IT 14 company tax returns, PAYE registration, payroll, and wills & trusts.
- Certification: SAICA, SAIPA, and SAIT.
- Service Languages: English
- Google Reviews: 3.8
- Number of reviews: 4
MD Accountants & Auditors
An impressive 25 years of service and a wide variety of services offered sets MD Accountants & Auditors apart. they are located in the Kenilworth, in the southern suburbs of Cape Town.
- Website: https://www.mdacc.co.za/
- Age: 25 years.
- Services specialised in: auditing, financial planning, income tax registration, individual tax returns, and payroll.
- Services offered: advisory services, annual financial statements, auditing, BEE affidavits, financial planning, income tax registration, individual tax returns, IRP6 provisional tax returns, IT 14 company tax returns, letter of good standing, payroll, and wills & trusts.
- Certification: SAICA, and SAIPA.
- Service Languages:
- Google Reviews: 4.7
- Number of reviews: 3
- Best Review: “Experts accountants.” – Elie-Jonathan Kabamba (5/5 stars).
Cloud CFO Accountants
Cloud CFO has a wide offering of services. As for the quality of their services, just check out their top comment on Google reviews, below! They can be found in the Cape Town City centre. For their full address, visit their website on the website link below.
- Website: https://www.cloudcfo.co.za/
- Age:
- Services specialised in: annual financial statements, bookkeeping, CIPC registration, income tax registration, individual tax returns, payroll, and VAT returns submission.
- Services offered: advisory services, annual financial statements, bookkeeping, CIBD registration, CIPC registration, COID registration, CSD registration, financial planning, income tax registration, individual tax returns, IRP6 provisional tax returns, IT 14 company tax returns, new company registration, PAYE registration, payroll, UIF registration, VAT registration, and VAT returns submission.
- Certification: ACCA, SAIBA, SAIT, and SARS.
- Service Languages: English
- Google Reviews: 4.9
- Number of reviews: 19
- Best Review: “Cloud CFO has simply turned my business around. As an non accountant savvy small company, the individual service and approachability of each consultant has really helped me tackle my accounting concerns. Each of the staff are friendly, always available and give tremendous service, whatever your needs are. Fantastic niche company!!” – Dan Fuller (5/5 stars).
Accountability Professional Accountants
Not only do Accountability Professional Accountants have 5 stars across 23 Google Reviews, but they also offer the widest range of services on this list. The are also centrally located in Cape Town, with their offices being in Foreshore.
- Website: https://www.accountabilitypa.co.za/
- Age:
- Services specialised in: advisory services, annual financial statements, company amendments, IRP6 provisional tax returns, IT 14 company tax returns, new company registration, payroll, VAT returns submission, and wills & trusts.
- Services offered: advisory services, annual financial statements, auditing, CIBD registration, CIPC registration, COID registration, company amendments, CSD registration, income tax registration, individual tax returns, IRP6 provisional tax returns, IT 14 company tax returns, new company registration, PAYE registration, payroll, UIF registration, valuations, VAT registration, VAT returns submission, and wills & trusts.
- Certification: CIPC, SAIPA, and SARS.
- Service Languages: English & Afrikaans.
- Google Reviews: 5
- Number of reviews: 23
- Best Review: “I couldn’t recommend Elmien more highly. She was so fast and efficient with communication, helped us with our submissions and was both professional and affordable. I am so grateful for her work and will continue to use her services in the future.” – Dan Carter (5/5 stars).
How does accounting work for a small business?
Accounting is a very important aspect of running a small business. It can help you to keep track of your financial situation, get a better understanding of the company’s performance and make decisions that are more informed.
The accounting process for a small business is not that different from the process for large companies. The main difference is that they usually have to do it themselves instead of relying on an external company to do it for them. The main reason for this is that small businesses seldom have the cash flow required to hire an external accountant.
With external accounting services, small businesses can focus on their core business without having to worry about the administrative tasks that come with running a company. The external accountant will take care of all the bookkeeping and prepare financial statements for the business owner to review.