How the PCP Method Works in Real Life – A Case Study
Let me tell you about Sarah (not her real name). Sarah runs a consulting business in Johannesburg, South Africa. When she came to me, she was making around R60k per month in revenue, working minimum 50-hour weeks including most weekends and had no idea if she was actually profitable. Her books were “done” by another […]
Performance is everything — but what performance means is entirely up to you
Different meanings Ask ten South African business owners what performance means to them and you will get ten different answers. One will say it is turnover. Another will say it is profit margin. A third will say it is how many clients they retained this year. Someone else will say it is whether they made […]
You Need a True Accounting Partnership, Not Just Compliance
Why Your Business Needs a True Accounting Partnership, Not Just Compliance Running a business is complex, and managing your financials shouldn’t be a daunting, frustrating chore. Yet many entrepreneurs often see their accountant as just a once-a-year necessity, only contacted when deadlines loom. If that sounds familiar, it’s time for a mindset shift. In this […]
4 ways to get control of your accounting paperwork
Paperwork. It’s such an important part of your business. And when that paperwork is related to accounting, tax and payroll it’s enough to strike fear into the heart of any business owner. The reason is fear of the unknown. Many business owners simply do not know enough about that side of their business. In this […]
5 Cash Flows Problems AND how to solve them
Cash flow problems? What is that? Cash flow is the number one problem in any business but it impacts smaller (newer) businesses more. Every business will encounter a cash flow problem at one time or another. Fortunately, most cash flow problems can be prevented with a bit of preparation and the right strategy. Here is […]
Four reasons why you’re not using a budget
You have all heard how important budgets are. But if you have never used a budget, why start now? Here are four reasons why companies do not have budgets or, if they have them, do not use them effectively. 1. They are incorrect or out of date Budgets are much like goals or dreams. They […]
Return on Investment: A Practical Guide for Your Business
In today’s fast-paced business world, understanding the concept of return on investment (ROI) is crucial for every entrepreneur. Whether you’re investing in advertising, purchasing new equipment, or expanding your services, knowing how to evaluate the success of these investments can significantly impact your bottom line. In this post, we will delve into the fundamentals of […]
Understanding Tax-Deductible Donations in South Africa
Donation, What Is It exactly? A donation is defined as any gratuitous disposal of property, which can include cash, assets, or rights. It is crucial to understand that for a donation to be valid: The important aspect here is ownership, you no longer have ownership of it. For example, if you donate R1,000 to a […]
Why I Only Trust SARS for Tax Advice—and You Should Too
In a world of AI-generated content and misinformation, BC Accounting explains why SARS is the only reliable source for South African tax advice—and how to verify what’s true. We’re surrounded by information. But when it comes to tax, not all of it is trustworthy. Between AI-generated articles, sensational headlines, and keyword-crammed blog posts, it’s easy […]
Cash Flow: 7 No-Brainers for Improving It
Cash flow The lack of cash in a business is not an external issue, but an internal one. If you want to change this problem, you have to be serious about your business financial health and make the tough decisions. Once this one decision is made – you will never look back or regret making the […]