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”
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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”
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”
The benefits of outsourcing Bookkeeping and Accounting functions in your business.
1. Cost Savings– To succeed in business, accurate and timely financial records are vital. They can help you determine if the business is making money or losing it. Your financial records indicate if your business is financially sound or if adjustments need to be made. Outsourcing your bookkeeping can improve both the accuracy of yourContinue reading “The benefits of outsourcing Bookkeeping and Accounting functions in your business.”
#TaxMatters |CAPRICORN FM INTERVIEW
1. My employer deducts tax from my salary every month, why am I expected to file the tax return every tax season? – The employers are obligated to collect the tax monies from the employees every month in the form of Pay As You Earn. Individuals are further required to validate the information submitted toContinue reading “#TaxMatters |CAPRICORN FM INTERVIEW”
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”
Matsobanemetja Business Consulting Pty Ltd 