Accounting services tailored to your business’ requirements

As a respected service provider in the financial sector, MMS Group aims to offer some of the most reliable and comprehensive outsourced accounting services available to small and medium sized companies today.

Our services are conducted in adherence to all IFRS requirements and include the full scope of requirements that a company may have. We specialise in:

Processing of documents
Debtors and creditors analysis
Reconciliations (VAT, bank, debtors, and creditors)
Management reports
Annual financial statements
Payroll management
Statutory registrations

The benefits of making use of outsourced accounting services

Running a business requires an enormous amount of time and patience. By outsourcing the financial accounting needs of your business, you as owner or manager can focus on other aspects of your business.

When relying on outsourced accounting services, the following benefits can be expected:

Save both time and money

By appointing an outsourced accounting firm to manage your company’s accounts, you can save large amounts of time and money. Outsourced accounting services are more affordable than employing an in-house accountant. All costs pertaining to the recruitment and training of an in-house accountant are cut, and this will also free up hours of your time, allowing you to spend it on more urgent matters.

An outsourced accounting firm, like MMS Group, will manage your accounts, provide you with real-time information and updates, all whilst ensuring that your company stays compliant. You will also enjoy the freedom of accessing your accounts from anywhere, at a time that best suits you.

Improved utilisation of data

More companies are preferring outsourced accountants as they offer expertise, experience, and they have the software and skills available to fully analyse a company’s data for its own benefit.

A small company, for example, might not have the required technology to analyse their accounts. Relying on a professional service provider to do this on your behalf will provide your business with the opportunity to improve certain processes for an increase in profits.

Better security

Most outsourced accountants utilise Cloud Accounting technology to manage their clients’ finances. This offers security as it protects a company against the physical loss of data, as well as leaks of confidential information.

Minimise risk

Accounting mistakes can occur and can lead to great financial loss to your business. By relying on an experienced accounting firm to manage your company’s accounts and related financial affairs, you will greatly limit your company’s risk of harsh penalties and financial losses due to non-compliance and errors in your accounts.

Stay compliant & avoid harsh penalties

Non-compliance in South Africa is a costly matter. Penalties for the late or wrongful submission of employee taxes, for example, is 10% of the total amount payable – which increases with a further 10% every day that it is not paid. These costs add up and can cost your company a fair amount of money. Therefore, relying on an outsourced accounting firm will not only ensure that you stay compliant, it will also save your company money by avoiding harsh penalties.

No additional responsibilities for in-house employees

A full-time, in-house accountant will cost your company anything from R20 000 per month, whereas a monthly fee for an outsourced accounting firm costs approximately R4 000, depending on the services that are included in your package. Instead of having to pay several people to conduct different tasks, you will be paying one company whose entire team of professionals will be working on your accounts.

Other benefits include no additional training costs, lower employee costs, and no additional responsibilities, such as employee taxes, employee benefits and contributions, and staff policies and structures for your employees.

Get in touch with our team to discuss your company’s accounting requirements and to find out how we can be of service to you.