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Boksburg, Carnival Accountant - Ayanda Lefatola
Were you always planning to be an accountant and why?
Yes, it all started with having a great accounting teacher in high school who made the subject very real and practical. The pursuit after high school was then an easy decision.
When meeting with clients do they mostly come to your own premises or do you mostly go their theirs?
It varies and is based on client preference.
What is your preferred mode of communication with your clients?
Email, Phone, Face to Face, WhatsApp
Have you ever done an online video call with a client?
What do you love most about accounting?
Being able to accurately account for transactions incurred for a period and bringing the complete picture to the client. Some clients do not understand the concept of profit/Loss, Assets, Liabilities & equity, so bringing those pictures for them, by just using their raw data is what I enjoy the most. Not forgetting getting paid for it :)
Would you recommend accounting as a career for school-leavers, and why?
I certainly would. Every business needs someone who will understand how to account for business transactions and to interpret them. Artificial intelligence can work but only to some extent, human element of knowing how to account for transactions, is key for any business.
What qualities should South African business people be looking for in their accountant?
Confidence, integrity, approachable, professionalism, credible qualification, skilled/well seasoned accountant, (experience counts) and an administrator. Accounting requires a lot of administration that if you are not good at it, you might miss a lot of submissions.
What is the biggest challenge facing accountants today?
Artificial intelligence (AI). Changes in the way things are done is posing a threat to the human accountant. However, it is also an opportunity for accountants to learn new skills that can be combined with AI in order to remain relevant. AI alone is not sufficient.
What aspects of accounting do you focus on most?
Compliance with the IFRS, Companies Act and Income Tax Act. So focus on bookkeeping, preparation of monthly management accounts, financial statements, interpretation of financial statements. Preparing Vat return, income tax returns, company returns and general accounting retention principles.
Describe your average client:
Mixtures of different industries, construction, medical, schools and engineering.
How far away from your premises is your furthest client?
They are all local for now. Looking to expand too and get clients outside Gauteng
From your accounting experience, if you could cite one of the biggest reasons SME's in SA fail, what would it be?
Having a skilled accountant. Someone who will assist in keeping the law out of your way by ensuring that you are compliant. Sometimes lack of compliance leads to heavy penalties on SMEs which in turn eat on the little income made by the SME. Another reason is lack of knowledge, some SME owners know how to make money, but not how to handle other basic financial management and business management and they never also understand the value of these. That is why, this is a primary focus of Okhayo Consulting, to assist businesses where they are not strong in. We build together with you :)
What accounting software do you like best?
SAGEONE, anytime, anywhere!
What other software, online services or apps do you use?
WaveAPPs, used it previously before SAGEONE. and CaseWare. SAGEONE is still number one for me.
Do you think the coming wave of automation in the next few years will steal some accounting jobs and why/why not?
Definitely, the world improving the way it does things, some of the accounting jobs are still manual, AI have automated some processes that were once manual and time consuming. So yes, I do believe some other inventions will make some current accounting jobs redundant, as we are already experiencing.
What is your opinion on Bitcoin?
It's growing, and growing fast. People are slowing starting to accept it as a cryptocurrency, which was a foreign concept. The idea that it doesn't go via Banks is still a challenge to some people, but it is working, and soon might even take over banks, to some degree.
What do you enjoy doing in your spare time?
Reading, cooking, doing outdoor family activities, public speaking, program directing, spending time with friends and family, doing social services (youth church programs)
What is the most interesting thing on your bucket list?
Skydiving (still building courage), snorkelling (done it, it is Amazing), going to Israel, to see the area where Jesus walked on.
What has your experience been on FindanAccountant?
I've been received with the utmost friendliness, also very efficient in assisting with queries, and helpful in getting clients. THANK YOU to the team
See how our other local South African accountants have answered the above questions.