1: Identify your financial goals You are more likely to succeed in accomplishing a goal if your goals are specific, measurable, attainable, relevant, and time-specific. This means determining WHY you want to accomplish a goal, WHAT specifically you are trying to accomplish, WHEN you want to accomplish it by and HOW you will accomplish it.Continue reading “How To Do A Financial Health Check”
Category Archives: Financial Literacy
The Process of Accounts Receivable
In the pursuit of operating our businesses we also build relationships that are professional and beneficial to our entities. This includes having to offer your goods or services on credit to your customers / clients. In a form of the “Get it now and pay later” system. Bear in mind that this is the incomeContinue reading “The Process of Accounts Receivable”
Full Cycle Accounts Payable Defined
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”
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”
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”
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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