VAT: What you actually can claim but did not know about
“Who loves paying VAT?” Sadly, more often than not, no one puts their hand up. Everyone pays VAT in one form or another. It affects everybody, no matter who you are, read more about this here. That said, here are a few tips in terms of what must be done regarding the VAT requirements. Number one […]
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 […]
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 […]
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 […]
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 […]
Non Profits DO make money!
We all know about charities and Non-profit organizations and the amazing work they do worldwide. While we know they bring in money in way of donations and other sources, this does not mean they do not make a profit. On a technical note: Non-profit organizations are entities created for purposes other than making a profit, […]
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 […]
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 […]