What is your plan to change or improve how you do things in your business as far as compliance is concerned? The mistake that many business owners make is only focusing on the yearly records but the truth is those are a build up from daily transactions to weekly, monthly, quarterly then yearly. I haveContinue reading “Dear Business Owner – Happy New year 🎊 – Bookkeeping Processes”
Tag Archives: #organisations
Basic Bookkeeping Principles for a Small Business
We just had our last webinar with our sister company Bookkeeping Academy (Pty) Ltd under the topic Basic Bookkeeping principles for a small business…This blog post is a detailed summary of the discussion we had with the attendants. What is bookkeeping and why is it important? Bookkeeping is the process of recording your company’s financialContinue reading “Basic Bookkeeping Principles for a Small Business”
UNDERSTANDING ASSET MANAGEMENT
What are asset management objectives? An asset management objective lists a company’s goals for allocating its assets. The primary objectives are maximizing return and ensuring that liabilities are not too high in relation to the value of assets an organization owns.If there is a difference between two asset management strategies-one with lower returns but higherContinue reading “UNDERSTANDING ASSET MANAGEMENT”
How To Do A Financial Health Check
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”
INDIVIDUAL INCOME TAX & SARS E-FILING MASTERCLASS
WHAT IS INCOME TAX We just had a masterclass webinar on Individual Income Tax Returns hosted by our sister company Bookkeeping Academy – http://www.bookkeekingacademy.org Income tax – is a tax governments impose on the income thatbusinesses and individuals generate PAYE– Individual income tax is deducted on the employee salaries by the employerand pay the fundsContinue reading “INDIVIDUAL INCOME TAX &
SARS E-FILING MASTERCLASS”
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”
Financial Terms that every business owner should know and understand
As a business owner there are a few financial terms you need to know in order to understand your finances.I am going to break them down and explain them in plain English. Because jargon is no fun at all, and really, they aren’t difficult to understand. 1. Gross Income Gross income is the amount ofContinue reading “Financial Terms that every business owner should know and understand”
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”
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