Business complacency: the business killer!
Business complacency is more common than you would think. COVID-19 and the rapid change of the world put that into the spotlight. Those who adapted, survived and those that didn’t either didn’t or came close to not surviving. For millions of years, humans have had to change in order to survive. Our ancestors had to […]
7 Accounting Myths – Busted!
So many times I am out at a restaurant, store, or outing and someone in my family or group of friends says “You’re the accountant, how much is this?” and wants me to calculate something in my head. I am going to let you all in on a little secret… I am not a mathematician, […]
Are you running a cashless business?
Running a cashless business is an ideal in todays world. There are obvious advantages but will it take over completely? Could we have a cashless world? Many businesses, like mine, don’t deal with cash and never have and never will but some businesses rely heavily on the use of cash. The obvious example is the […]
Expenses, what are they and how do they work?
Expenses are costs incurred in order to run your business. They are paid for by the income your business earns from sales. The costs are used in the calculation of nett profit and the taxable income. Expenses and cost of sales are often confused and used for the same meaning. They are different and they […]
Annual Return Filing CIPC: What? and Why?
Understanding the CIPC Annual Return in South Africa For businesses operating in South Africa, compliance with regulatory requirements is essential. One of the key obligations for companies and close corporations is the submission of the Annual Return Filing to the CIPC. This process ensures that the Companies and Intellectual Property Commission (CIPC) has accurate and […]
5 questions to ask your accountant
We have drafted 5 questions to ask your accountant so you know what is required from you and what you can expect from them. 1) How much do you charge and how do these suit my needs and pocket? Fees are worked out according to your specific needs. There is no “one package for all […]
Business lessons from Bob
My son (let’s call him Bob) at the time of writing is about 10 months old. That was 10 years ago now. As with any kids can (and do), he has taught me various lessons in life. He has already taught some lessons about business too. Here are just 3 tips that my son has […]
Non Profits DO make money!
We all know about charities and Non-profit organizations and the amazing work they do worldwide. While we know they bring in money in way of donations and other sources, this does not mean they do not make a profit. On a technical note: Non-profit organizations are entities created for purposes other than making a profit, […]
Customers: Are they all good for your business?
Customers. Any and all are good for your business, right? The answer to that is always “yes”. Well, for most people, that is. The correct answer, however, is “no”. And that’s because not all customers are good for your business. When businesses open, any and every sale or customer is grabbed and held onto for dear […]
The importance of collecting outstanding monies
In business, the income or sales cycle is critical to your company’s survival. It brings in the money to move the company forward. Simple. Well, yes. The customer or debtor can pay you at a later time (up to 60 days) depending on your terms. This has all been captured in your accounting system already. The […]