Change is not restricting
Technology of today Currently the technology is changing almost daily. Whether you like or not, you have to keep up. Standing still in the river (of technology) is actually going backwards. What about in the accounting world? Historically, things do change but extremely slowly. The basic principles of accounting have not changed and will never […]
SARS tax bursary: what you need to know
The taxman has historically had a bad name. In fact, tax collectors were considered the scum and the “lowest of the low”. Based on that premise, in South Africa, the South African revenue service (SARS), had inherited that name. You mention the word ‘tax’ and a flurry of complaints and horror stories will arrive. The […]
Reports: What’s the point?
Reports and gym? This may seem like a funny start to an article about business reports but the gym I go to is on the first floor of the building (second if you park in the basement). In any building if I can, I will take the stairs, to a reasonable floor that is. The […]
Good Cash Flows
Good cash flow keeps a business alive, poor cash flow can sink it. Poor cash flow is a big reason why 20% of businesses doesn’t make it past the first year, and why more than half don’t survive past the fifth. This post, will explain what cash flow is, take you through some of the […]
Cash in your business: How to (properly) report it in your business
Cash in my business? Still? For those who may have forgotten, cash is that paper and metal money that you used to pay for items with ;-). Surprisingly, Cash in your business is still a reality in many businesses. We assumed that debit cards/zapper/ SnapScan, etc. would come into the world and take over. It […]
Employee tax returns: understanding the basics
The employee is the most important part of the business engine. Look after them and they will drive your business forward more than you will ever expect. They can be the greatest asset or the biggest liability. This all depends on how they are treated. Employee tax returns: Basic tax types PAYE: Pay-As-You-Earn Calculated according […]
How to Evaluate Your Accounting Needs
Maintaining a proper and accurate record of your business finances, will keep your business in a proper financial shape. On the flip, disorganized accounting practices can cause an otherwise excellent business to lose speed and even close their doors. Not only does it hinder cash flow, but it also affects your relationship with the suppliers […]
VAT on masks for staff for COVID-19?
COVID-19 pandemic The COVID-19 pandemic is here to stay and nobody in any country has not been affected in some way. BC Accounting Services is not here to offer advice on the virus itself but financial implications on companies and individuals. Virus information is to be obtained from the relevant departments of your local government. […]
The tax implications of cryptocurrency
What is cryptocurrency? There has been a lot of hype over cryptocurrency such as Bitcoin (and others) over the past couple of years but in particular the past six weeks or so. But what are the tax implications of cryptocurrency? As an accounting firm, we do get asked about the accounting treatment of this. There […]
Five reasons why every small business needs an accountant
Many small business owners think that paying for an accountant is too expensive and won’t benefit their business in any way. Here are five reasons an accountant may save you money – and possibly your business.