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 […]
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 […]
Business lessons from Bob
My son (let’s call him Bob) at the time of writing is about 10 months old. That was 10 years ago now. As with any kids can (and do), he has taught me various lessons in life. He has already taught some lessons about business too. Here are just 3 tips that my son has […]
6 more ways you are throwing money away
“Let’s meet for coffee” Everybody loves meeting someone or many people for a drink. Possibly the most common is a cup of your favourite brew. This is a legitimate reason to do business and network with important connections, but it can get out of hand. These “business meetings” often become just a general, friendly chat […]
Accountant – friend or foe?
An Accountant does what? The burning question that gets asked frequently is this: “What do accountants actually do”? The answer can be as simple and as complex as the accountant wants it to be. I do not like answers to questions to be complex. This is because 9 times out of 10, it just confuses […]
Do you have the accounting know-how required to run your business?
Many entrepreneurs who feel confident about their accounting know-how take it upon themselves to do their own accounting function. The thinking behind this is actually sound: “keep your fingertips on the numbers the business is producing”. Producing the goods Unfortunately, many business owners (despite having the skills to do so) don’t fully understand the rigours […]
Counting the cost.
Service is “too expensive” The focus of most business owners is the cost of any item or service. There are always ways to cut costs in a business but often the business cuts the wrong costs. The essential services are first to either get cut or not to pay for a service. Countries across the […]
Be aware of these sneaky charges
Sneaky Charges We all have a bank account and it is just a way of life currently. The ranges and options from all banks in SA are plentiful BUT there is just one constant – BANK CHARGES! These can be some seriously sneaky charges, like a spider lurking in the dark! I reviewed my business […]
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 […]
Business costs: 4 ways to save
How do you increase profits (or your bottom line)? There are two options – increase sales or cut the business costs and save. 1. Know your options Service providers and suppliers often offer discounts if certain requirements are met. Make sure you know what the options are. These may or may not be feasible for […]