Provisional Tax – What is it?
There are always questions about provisional tax as it’s a relatively obscure subject. We are going to run through a few of the basic questions about this tax. What is provisional tax? Provisional tax is not a separate form of tax. It is in fact, one of the methods used by the South African Revenue […]
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 […]
Payroll: What you did (or did not) know
Payroll is critical part of a business. It involves the process of paying salaries and the payments that involved with them. IF not done – no one gets paid and the deductions are not paid to SARS. What is your most important asset? It may surprise you but the answer is: YOU AND YOUR STAFF You […]
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 […]
3 ways to know if your numbers are complete and accurate.
In order to have useful financial information (or numbers), they have to be complete and accurate. Complete and accurate is crucial for your numbers to be useful. So what does complete and accurate mean? Complete and accurate can be separated by definition only. Complete means that ALL the transactions that occurred in your business have […]
5 Small business accounting tips for growth
Discover the small business accounting tips that every small business should implement to make your business grow! Establishing a Clear Budget One of the most important small business accounting tips small businesses is establishing a clear budget. A budget serves as a financial roadmap for your business, helping you allocate resources and plan for the […]
Small business accounting basics: A Beginner’s Guide
For small business owners, managing finances can feel like navigating a foreign language. But fear not! Understanding the basics of accounting is crucial for steering your business towards success. In this post, we’ll break down essential concepts in simple terms, including how money flows in and out of your business, what the key equation means, […]
Budget: time waster or time saver?
“Budget” is a common word that surfaces about three times a year. It is the first “tool” many people turn to when: They are starting a new project or business They need to cut back on their spending (“tighten your belt”) In my opinion, budgets are, aside from social media, one of life’s greatest time-wasters. […]
Accounting and bookkeeping: what’s the difference?
When most people think about bookkeeping and accounting, they would be hard-pressed to describe the differences between each process. In this article, the functional differences between accounting and bookkeeping are explained, as well as the differences between the roles of bookkeepers and accountants. While bookkeeping and accounting share common goals, they each make up a different stage […]
Barter – Can We Still Use It?
Is there more than one form of payment? When you provide a service or goods to another person or entity ie: sell something to someone to make money, we assume that you would get paid in some form of currency. The amount exchanged would equal the amount agreed by both parties. This is a perfectly […]