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 […]
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 […]
Four reasons why you’re not using a budget
You have all heard how important budgets are. But if you have never used a budget, why start now? Here are four reasons why companies do not have budgets or, if they have them, do not use them effectively. 1. They are incorrect or out of date Budgets are much like goals or dreams. They […]
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 […]
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 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 […]
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 […]
The importance of collecting outstanding monies
In business, the income or sales cycle is critical to your company’s survival. It brings in the money to move the company forward. Simple. Well, yes. The customer or debtor can pay you at a later time (up to 60 days) depending on your terms. This has all been captured in your accounting system already. The […]
Affordable accounting is not out of reach
Accountants have a reputation for being expensive. Admittedly, for a smaller business, accounting fees are a tough pill to swallow. A grudge payment if you will. But affordable accounting is not entirely out of reach. Some accountants will charge you for their time and rightly so. However, this can become very expensive with respect to […]
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. […]