Accounting is one of the important parts of any business so is accounts payable. It is one of the critical components of accounting. A proper accounting payable process service ensures a healthy financial position of the organization and provides a better environment for growth. Proper accounts payable helps build a better reputation for the organization. The full cycleContinue reading “Full Cycle Accounts Payable Defined”
Category Archives: Business
Small Business Taxes you must know about
1. Income Tax– Income tax is the tax you pay on any money your business earns. Each year, you need to lodge a tax return to tell the South African Receiver of Revenue ( SARS) how much money your business has made and how much tax you are expected to pay. This will be determinedContinue reading “Small Business Taxes you must know about”
LOOK 👀 WHAT YOU ARE MISSING OUT WHEN YOU DO NOT DO YOUR BOOKKEEPING
What to include in your small business tax deductions plus: Checklist! —————————————- When you start a small business, you might not have everything figured out. You might have to wait for the money to come in to buy the extras that can improve your business. It would be best if you were keeping an eyeContinue reading “LOOK 👀 WHAT YOU ARE MISSING OUT WHEN YOU DO NOT DO YOUR BOOKKEEPING”
EMPLOYER PAYROLL GUIDE
The main objective of a dedicated Payroll function in any organization is the satisfaction of people getting their paychecks on time, with the correct calculations. What is the function of a payroll department? Payroll professionals manage employees’ financial data and are typically responsible for processing paychecks and other payments, keeping time records, and handling anyContinue reading “EMPLOYER PAYROLL GUIDE”
TAX BLOG: INCOME TAX AND VAT
1. Briefly explain the difference between Income Tax and Value Added Tax?– Income tax is a direct tax levied by the governments (SARS – South African Revenue Services ) on businesses and individuals that conduct their operations inside their jurisdiction’s borders. It is a direct tax as a result of earnings/ Income. – VAT –Continue reading “TAX BLOG: INCOME TAX AND VAT”
PREPARING FOR THE FINANCIAL YEAR END AS THE BUSINESS
Most businesses have already entered their new financial year end since the first of March. Their year end being February. The fiscal year is 12 months long. I have compiled this blog to make things easier for your next financial year end. With summarised points below. 1. Bank ReconciliationTo really avoid the unnecessary discrepancy ofContinue reading “PREPARING FOR THE FINANCIAL YEAR END AS THE BUSINESS”
Questions to ask before you hire a Bookkeeper or an Accountant.
A bookkeeper and/or an accountant can help you reach the next level in business. This means it’s really important to find someone who is willing and excited to help you grow and grow with you. Finding someone you trust will allow you to focus on business strategies knowing the financial side is handled. 1. WhatContinue reading “Questions to ask before you hire a Bookkeeper or an Accountant.”
How to account for your taxes as a small business
Business tax returns can be complicated, and they vary based on the business structure. Running a small business often requires you to perform a wide variety of tasks you might not have to perform at a large business, one of which is filing small-business taxes. A business is a Provisional Tax payer thus income taxesContinue reading “How to account for your taxes as a small business”
Small Business Bookkeeping Tips
Happy New Year, we wish you a productive and successful new season with lots of profits 😊 I have compiled small business bookkeeping tips that will help you to be successful with processing your day to day accounts and office management. The tips show you how to do bookkeeping and will increase your ability andContinue reading “Small Business Bookkeeping Tips”
How do I know that I need a designated Bookkeeper?
If you’re spending more of your time as a CBO (Chief Bookkeeping Officer) than a CEO, then it’s time for a reality check. 1. Bookkeeping is taking up too much of your time There’s a finite number of hours in the day so you need to be using them wisely in your business. It’s not aContinue reading “How do I know that I need a designated Bookkeeper?”
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