Do You Speak Financial?
The language of financials 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 things […]
10 tips for better financial management that anyone can do
Many business failures are caused by poor financial management and record keeping. The time frame is normally 3 – 5 years when failure happens. This is definitely avoidable through better financial management. Here are ten ways in which you can survive the tough year ahead through better financial management: Limit your capital expenditure It is very […]
Just one more role to go
All roles in one You own your own business, great! You started in your home and you did everything. Nothing wrong here. You were (and still are) excellent at what you do, so your company grew and continues to grow. One extra person became two, became five etc. These helping hands help you manage to […]
Working times and the BCEA
The Basic Conditions of Employment Act (BCEA) provides a basic guideline on BCEA regulations relating to: Working times: including shift work, weekend work, public holidays, overtime Payment: including payment in kind, deductions Leave: annual leave, sick leave, maternity leave, family responsibility leave, unpaid leave and absence without leave Deductions: including those required by law and […]
More time, Is it really available?
Who couldn’t do with a few more hours in the day? Do you feel like you have been busy but have not really achieved anything at the end of the day? Well, you don’t have to stop the sun in its path to do that. Here are a few tips to loosen and free up […]
Company (entity) structures used in SA
There are a lot of questions that can be asked when someone advises you to “open a company”. It is a great piece advice but depends on various factors. This depends what kind of entity you want to run and why. Sole Proprietor Characteristics Most common and the most simple Owned and operated by a […]
Change is not restricting
Technology of today Currently the technology is changing almost daily. Whether you like or not, you have to keep up. Standing still in the river (of technology) is actually going backwards. What about in the accounting world? Historically, things do change but extremely slowly. The basic principles of accounting have not changed and will never […]
Out-of-pocket – Claim them BACK!
DID YOU KNOW that you can claim back from SARS out-of-pocket medical expenses! What are you talking about? Surely they are not going to pay for these expenses? Anyway, what are these out-of-pocket medical expenses? This answer is simple. They are expenses that your medical aid did not cover. Maybe your savings ran out or […]
It’s all about tax efficiency.
What does tax efficiency mean? Tax efficiency is not a new concept and practice that helps you claim the allowances and deductions that SARS have put in place. A common deduction is the medical tax credit and ‘of our pocket’ medical expenses. Another is claiming ‘home office’ expenses when you work from home. This is […]
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 […]