Tag Archives: #smme

Company Formation – what you need to know, in order to get started.

It is no doubt that in South Africa it has become so much easier to formalise your business. I am writing this blog with a purpose of highlighting the steps necessary to take in order to start operating and building a reputable brand. Step 1. Company registration must take place, so you can have anContinue reading “Company Formation – what you need to know, in order to get started.”

Best Accounting Tips for your Business

Secrets of Best Accounting Practices for Small Business Hire a Bookkeeper The need for an accountant or bookkeeper grows as your business finances get more complicated. Bookkeepers and accountants perform similar tasks but have a different set of skills. Accountants provide consultation and analysis and are qualified to provide advice on your taxes. These financial advisors can help you withContinue reading “Best Accounting Tips for your Business”

Happy New Tax Year 🎉

What does a new tax year mean? Well, it can mean multiple things. 1. Are you an employer and responsible for employees tax deductions as a results of PAYE, UIF, SDL and other taxes?– February is the end of individual tax year. The ITR12 tax periods range from March to February the following year. ThisContinue reading “Happy New Tax Year 🎉”

Small Daily Actions that helps increase your productivity

I wanted to take a break from sharing finance content today and rather share a bit of what helps me to be productive. I gather the tips may help other business owners/ even professionals too. 1. Don’t Make It Too Complicated Making money is not complicated.Almost anyone can do it. Sadly, so many people makeContinue reading “Small Daily Actions that helps increase your productivity”

Steps on how to Organize Your Business Finances

Starting your own business is overwhelming to say the least. There’s always something new to learn and a mile-long to-do list that you’ll probably never finish.  Even though it can feel really intimidating, ignoring your business finances isn’t an option. If you want to avoid getting in trouble with the tax institutions / government, andContinue reading “Steps on how to Organize Your Business Finances”

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”

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”