When I teach small business owners the importance of Bookkeeping, I always highlight that they know the following categories by heart. That is: Assets, Liabilities, Income, Expense and Owners ‘s equity. The reason I do that is because, the above-mentioned categories play a huge role in preparing the company Annual reports known as Annual FinancialContinue reading “The Components of the Annual Financial Statements”
Tag Archives: #budget
Individual tax season, provisional tax payers and SARS auto assessment.
Individual tax season has opened, the official filing resumes on 07 July 2023. From 30 June to 07 July SARS will be issuing communications to all the tax payers that have at least less complicated tax affairs auto assessment via text or email.If you have not received one yet, please wait a bit till theContinue reading “Individual tax season, provisional tax payers and SARS auto assessment.”
What happens when I don’t make use of the business bank account yet the business is trading?
What happens when I don’t make use of the business bank account yet the business is trading? I am not sure how best to respond to the above question other than say “it is a self sabotage” When a business is registered, it is given its own legal entities. Name of operation, registration number, taxContinue reading “What happens when I don’t make use of the business bank account yet the business is trading?”
YEAR END CHECKLIST FOR BUSINESS OWNERS
This is the last blog entry for the year and I just thought it would be befitting enough for every business owner to do a bit of “stocktake” with regards to their business standing. I have realised that many business owners do not really know their businesses legal entities and how and when to maintainContinue reading “YEAR END CHECKLIST FOR BUSINESS OWNERS”
BUSINESS OWNER BANK STATEMENT REVIEW
Dear Business Owners The end of the year gives us an opportunity to do some introspection. If you have not been doing things the right way, as far as record keeping is concerned – please aim to do things differently in the new year. Your business depends on it. I just thought while we areContinue reading “BUSINESS OWNER BANK STATEMENT REVIEW”
BUSINESS PRACTICES
I was invited for an interview by YOU FM and therefore decided to create a blog out of the questions that were asked. 1. What are the basic business practices?1)a. Making profit – you must never compromise on this important business principle. For anything that will comprise the business from making profit, it is notContinue reading “BUSINESS PRACTICES”
How do you know that the company afford to obtain more credit facility?
Taking on a debt if you have a reasonable need, a sound financial track record, a firm financial history, and stable business, most banks, finance institutions, investors, etc will be willing to lend you the money. Funds are required for different reasons. It could be the need of cash itself, or the need for the financing to purchase machinery or more equipments, even better acquiring big assets such as a property. It is alwaysContinue reading “How do you know that the company afford to obtain more credit facility?”
Getting out of Debt
Getting out of debt I am sure this may be one of the difficult exercise you may need to embark on. But for a healthy environment is deemed necessary to happen to create a positive environment for yourself. Let us first realise that the decision to cut off your debts does not only involves payingContinue reading “Getting out of Debt”
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