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.”
Tag Archives: #smallbusiness
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”
The Components of the Annual Financial Statements
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”
DO I HAVE TO PREPARE THE FINANCIAL STATEMENTS AS A SMALL BUSINESS?
We are always asked this question by small business owners when they need us to generate the SARS Tax Compliance Pins. And the answer is simply YES. I would like try to simplify the reason why that is the case. The most basic requirement of compliance is that you must submit the Tax Annual returns.Continue reading “DO I HAVE TO PREPARE THE FINANCIAL STATEMENTS AS A SMALL BUSINESS?”
PERSONALITY TRAITS THAT YOU NEED, TO RUN A SUCCESSFUL BUSINESS
Every job has a specific personal trait that one must have, to be able to abide by the job standard or requirements. For example, to be an accountant or bookkeeper you need to be able to keep a secret. You are going to work with confidential information thus you shouldn’t find it easy to discloseContinue reading “PERSONALITY TRAITS THAT YOU NEED, TO RUN A SUCCESSFUL BUSINESS”
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”
RANDOM BUSINESS ADVISES YOU DID NOT ASK FOR
Today I decided not to write a blog based on a specific topic however some useful pointers you may find useful in your business. 1. How much do I pay my first employee?This question have re-surfaced many times during consultations with entrepreneurs. There is no straight answer to this. My usual response is that, asContinue reading “RANDOM BUSINESS ADVISES YOU DID NOT ASK FOR”
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?”
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