A rolling budget – why you need one!
A static annual budget prepared once at the start of the financial year is not a useful management tool for a South African SME. In fact, not having one is just as unhelpful. Twelve months of trading brings changes that no budget prepared in February could fully anticipate: shifts in client mix, changes in cost […]
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 They are incorrect or out of date Budgets are much like goals or dreams.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 […]
Cash is KING!
CASH is KING! You may have heard that “Cash is King” and it has never been more apt than now. What does it mean? It is simple – if you have cash (or money in the bank), you are king. the more the better. Everyone should be aiming at living debt-free. Not owing anybody anything […]
Budget: time waster or time saver?
“Budget” is a common word that surfaces about three times a year. It is the first “tool” many people turn to when: They are starting a new project or business They need to cut back on their spending (“tighten your belt”) In my opinion, budgets are, aside from social media, one of life’s greatest time-wasters. […]
7 Business Lessons from 7 Years!
August 2022 marked the seventh birthday of BC Accounting Services, so to honour this, I have put together seven lessons, to mark one business lesson learned for each year. Business Lesson One: Just start. I had no idea what I was going to do when I was retrenched. I knew I was going to start […]
6 more ways you are throwing money away
“Let’s meet for coffee” Everybody loves meeting someone or many people for a drink. Possibly the most common is a cup of your favourite brew. This is a legitimate reason to do business and network with important connections, but it can get out of hand. These “business meetings” often become just a general, friendly chat […]
Accountant – friend or foe?
An Accountant does what? The burning question that gets asked frequently is this: “What do accountants actually do”? The answer can be as simple and as complex as the accountant wants it to be. I do not like answers to questions to be complex. This is because 9 times out of 10, it just confuses […]
Is the “recession” really impacting your lifestyle?
It is on everybody’s lips in South Africa and in fact all over the world. Recession. South Africa adds another word, junk status. Despite not completely understanding the concepts, the fear attached to them is taken seriously. This is not to mention floods, riots and of course COVID-19 This fear extends to any and every […]
Business Accounting
Business accounting – another language Over the years, I have come across loads business owners who run their business and that’s where it ends. They rarely (if ever) glance at their financial statements. Also called financials or reports – it has many names that all mean the same. You know what they are – those […]
The Importance Of Outsourced Accounting Services
Why outsourced accounting? Accounting is the most vital aspect of any business because it ensures that financial decisions made are based on a sound base. However, many people either do not understand accounting or just do not want to do it. Hence, most business owners would rather hire a full-time accountant than outsourcing accounting services. […]