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 […]
Income statement: What is it?
The Income Statement The income statement is a vital report tat every business owner should use and understand. This short video explains it with an example to make it clearer. This will enhance your knowledge of what they are and how to use them. [jwplayer width=”550″ height=”500″ file=”https://vibrant-booth.197-189-226-226.plesk.page/wp-content/uploads/2018/05/The-income-statement-report.mp4″ image=””] What are they? An income statement […]
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 […]
COVID-19: Questions to ask to see how bad it is
COVID-19 – don’t even talk to me about business!!! Everybody is stating that their business has been affected by the covid-19 pandemic and they might well be correct, but there are questions around this statement that need to be answered before this is a factually correct statement in the context of the world of business […]
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.
It’s easy, if you have all the documents ready
Recently, a family member had to buy a car. Their car had been written off and this left them without one. The insurance had not paid the settlement figure as yet, so the worry was about the amount they could apply for. The family went shopping for a car. They had worked out a ballpark […]