The Purpose-Clarity-Performance Method: Approach your Business Differently
The Purpose-Clarity-Performance Method: A New Approach to Business Finances In the last post, we talked about why traditional accounting doesn’t help your business grow. Compliance keeps you legal but understanding drives growth. Today I introduce you to the framework I use with every client who’s serious about building a sustainable business: the Purpose-Clarity-Performance method. Three […]
Why Your Accountant Isn’t Helping Your Business Growth (And What You Actually Need)
You pay your accountant every month. Your books are done. Tax returns filed on time. Monthly accounts arrive in your inbox. You glance at them. Maybe check the bottom line. Hope everything’s okay. Then you get back to actually running your business. Sound familiar? Here’s the truth: your accountant is doing exactly what you hired […]
Cash Flow: 7 No-Brainers for Improving It
Cash flow The lack of cash in a business is not an external issue, but an internal one. If you want to change this problem, you have to be serious about your business financial health and make the tough decisions. Once this one decision is made – you will never look back or regret making the […]
Do I need to pay tax on assets, donations or inheritance money?
Inheritance can be a complex topic, especially when it comes to understanding the legal and tax implications. This article outlines the key terms and tax considerations relevant to South African taxpayers when dealing with a deceased estate. Key Terms of an Inheritance Deceased Person: The individual (taxpayer) who has passed away. Estate: All assets owned […]
Are you happily married to SARS?
SARS and you? For the purposes of this article, “marriage” refers to any relationship. In this article, we focus on your relationship with SARS. For the purposes of this article, SARS is the tax man in South Africa. This can be changed to the local tax authority in your country. For all marriages to succeed […]
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 […]
Business complacency: the business killer!
Business complacency is more common than you would think. COVID-19 and the rapid change of the world put that into the spotlight. Those who adapted, survived and those that didn’t either didn’t or came close to not surviving. For millions of years, humans have had to change in order to survive. Our ancestors had to […]
7 Accounting Myths – Busted!
So many times I am out at a restaurant, store, or outing and someone in my family or group of friends says “You’re the accountant, how much is this?” and wants me to calculate something in my head. I am going to let you all in on a little secret… I am not a mathematician, […]
Are you running a cashless business?
Running a cashless business is an ideal in todays world. There are obvious advantages but will it take over completely? Could we have a cashless world? Many businesses, like mine, don’t deal with cash and never have and never will but some businesses rely heavily on the use of cash. The obvious example is the […]
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 […]