Urgent accounting – Fact or Myth?
What is urgent? In a society that is instant we have everything at our finger tips. This can be amazing because you know you can sort it out quickly. There are, however, some parts of life and business that don’t contain emergency situations. Accounting, tax and payroll are a good example. There may be some […]
The Basics of VAT
What is VAT? Value Added Tax (VAT) is an indirect tax on the consumption of goods and services in the economy. Revenue is raised by the government by requiring certain businesses to register and to charge VAT on the taxable supplies of goods and services. That might seem a little complicated but the basics of […]
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 […]
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 […]
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 […]
To outsource or not to outsource? The debate
The debate whether to outsource. There is a myriad of information out there regarding the use of outside consultants. The debate raging on and probably will do so for years to come. This debate is whether to outsource or not. Some are pro the idea, outsourcing work to others whilst some are against the idea. […]
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 […]