See full profile: Midrand Accountant - Reinald Naidoo
Were you always planning to be an accountant and why?
Yes, I had a significant interest in mathematics, accounting and commerce since secondary school. Accounting and accounting complexities are my passions and something that comes quite naturally to me.
When meeting with clients, do they mostly come to your own premises, or do you mostly go to theirs?
My clients come to my office, I mostly go to my clients
What is your preferred mode of communication with your clients?
Email, Face to Face, WhatsApp
Have you ever done an online video call with a client?
Yes
What do you love most about accounting?
Even though the principles are the same for each client, understanding the nature of their business opens up a new level of learning and adapting "routine" work to fit their model.
Would you recommend accounting as a career for school leavers, and why?
Yes, quite simply, every business needs an accountant, so therein lies job security. Secondly, even as an entrepreneur or business owner, you still need to know the numbers and how it affects your pocket.
What qualities should South African business people be looking for in their accountant?
Integrity and honesty are critical, you do not want a dodgy accountant. Your accountant should be reliable and available to meet your needs and adapt to ever-changing business environment.
What is the biggest challenge facing accountants today?
Some businesses want professional advice and work quality but are reluctant to pay the fee associated with it.
What aspects of accounting do you focus on most?
Management accounts and financial statement preparations. I also provide ad-hoc advice on managing your company to ensure that you build a solid foundation and then adapting your business model as you grow.
Describe your average client:
Small to medium, owner-managed companies or startups that need to get their accounts and tax affairs in order but do not necessarily require a full-time accountant.
How far away from your premises is your furthest client?
I have clients in other provinces that are serviced from Gauteng.
From your accounting experience, if you could cite one of the biggest reasons SMEs in SA fail, what would it be?
Failing to manage their cashflow adequately is one the biggest pitfalls. Most SMEs assume that profit from Project A can be spent the next day and fail to provide for rainy days.
What accounting software do you like best?
I prefer Sage Accounting, its simple to setup, economical and you can access anywhere that you have an internet connection.
What other software, online services or apps do you use?
Sage Accounting, Sage Payroll, Pastel Partner, Xero, Quickbooks
Do you think the coming wave of automation in the next few years will steal some accounting jobs and why/why not?
Yes, some of the more routine transactions will be removed, which will allow accountants to focus on more critical tasks and allow them to provide guidance based on reports rather than spending time generating reports.
What is your opinion on Bitcoin?
It is a volatile currency that can be either a weakness or a strength, depending on one's personal risk level. However, the accounting and tax implications have not been fully explored and resolved, which can result in unexpected outcomes for traders.
What do you enjoy doing in your spare time?
Video games, books, relaxation.
What is the most interesting thing on your bucket list?
Exploring Egypt and its ancient structures
See how our other local South African accountants have answered the above questions.
