The Xero Dashboard. Start here always
Most Xero users open the platform to do a specific task — send an invoice, capture a bill, run a report — and then close it again. The dashboard, which is the first thing you see every time you log in, gets glanced at and scrolled past. That is a missed opportunity. The Xero dashboard […]
Records of expenses are critical
Records and business Accurate records of expenses are vital for business and without them, your accounting will never make sense. Nothing will be accurate. This will only lead to problems and much frustration down the road. Consider the following scenario: At the till or restaurant, you make a note of keeping the slip for your […]
Technology will save me!
Even accountants like technological advancements. They don’t just sit in the corner smashing away on the keyboard. It is true. Technology has brought a whole new level of convenience to a lot of life, even accounting, but it is also true that it does not solve everything. Accounting packages Accounting packages simplify the accounting process […]
Is that employee the correct fit?
In business, your employees are your greatest asset but your greatest enemy too. If they are the right person for the job, they are a productive part of your team. They are then driving the company forward. On the other side of the coin, if they are not the right person or the right fit, […]
Mixing personal and business accounts
Why separate? Failing to separate personal and business accounts is a common and sometimes dangerous mistake people make. To some, it might seem obvious to separate the two accounts. However, some people will expose their business to risks by combining the two accounts. Ideally, there should be two different bank accounts – one for business […]
Hidden Costs – how they are killing your business
Hidden costs accumulate quietly in the background, month after month, never large enough to trigger alarm in any individual month, increases often blown off as inflation or the usual annual increase.
An Excel Spreadsheet or Xero
I have this conversation more often than you might expect. A business owner, usually one who has been running for two or three years, tells me they are managing their finances in Excel. They, or someone they know personally, have built a reasonably clever spreadsheet. It tracks their income, their expenses, maybe their invoices. They […]
Why most South African SMEs run out of cash before they run out of customers
I want to start with a story that I have heard more times than I care to count. A business owner comes to me — frustrated, exhausted and confused. Their order book is full. Their phone is ringing. Clients are happy. On the surface, everything looks like success. But underneath it all, there is a […]
You Need a True Accounting Partnership, Not Just Compliance
Why Your Business Needs a True Accounting Partnership, Not Just Compliance Running a business is complex, and managing your financials shouldn’t be a daunting, frustrating chore. Yet many entrepreneurs often see their accountant as just a once-a-year necessity, only contacted when deadlines loom. If that sounds familiar, it’s time for a mindset shift. In this […]
4 ways to get control of your accounting paperwork
Paperwork. It’s such an important part of your business. And when that paperwork is related to accounting, tax and payroll it’s enough to strike fear into the heart of any business owner. The reason is fear of the unknown. Many business owners simply do not know enough about that side of their business. In this […]