- How to see if your company is technically solvent or not
- Do you know if your company solvent, or not?
If your company is solvent, it means your assets are higher than your liabilities. You'll find the answer to this in the analysis of your financial statements.
And the answer to this question can have profound implications on your business.
Read on and I'll explain further... ********* Recommended Product *********
Calling all accountan... ››› more
- [29 September 2016]
- Why do I need financial statements if I have a small business?
- 'I have a small business which my wife and I started in 2014. We've got 1 employee and our turnover was R890 000 last year.
We're not even VAT registered. So do I really need financial statements if it's a small business, and why? This is a question we received recently from one of our Accounting Handbook subcribers. And while I thought the answer was obvious… I was surprised to see that so ... ››› more
- [13 May 2016]
- 13 tips to effectively manage your inventory!
- As a business owner, managing inventory is like walking on a tightrope. Not having enough inventory means you run the risk of losing sales, while having too much inventory is costly.
Without an effective and efficient inventory management system, you don't know whether or not the next order your customers place, will result in excess stock or a stock out.
So improving your inventory manageme... ››› more
- [02 September 2015]
- Five steps to account for capital gains tax correctly in your company books
- Recently, I told you when a transaction has a capital gains tax (CGT) implication and how to calculate it correctly.
Today, I'm going to show you how to account for the disposal of an asset correctly.
If you get this wrong, you'll have incorrect financial statements. And you won't calculate your income tax correctly either.
Read on to find out how to account for the disposal of an asset.... ››› more
- [24 June 2015]
- Attention bookkeepers: If you don't know how to calculate Capital Gains Tax correctly, you'll miss out on paying lower taxes
- Capital Gains Tax (CGT) has been around since October 2001.
But I keep finding many bookkeepers are still confused about what transactions attract CGT, and which ones don't.
It's important to exclude capital gains transactions from normal transactions to make sure you enjoy the lower tax on the capital profits.
Read on as I explain what CGT is and the correct method to calculate CGT.
... ››› more
- [24 June 2015]
- 10 critical elements you should look out for on your balance sheet... or you won't get business financing
- If you're responsible for managing your company finances, you probably know how much money your business is making. You either know your bank balance or you calculate your profits and losses, right?
Well this isn't the only thing banks and funders look at when investigating your business's financial health. They'll look at your balance sheet too to see if your business is worth investing in.
... ››› more
- [04 June 2015]
- Nine top tips to prepare a successful financial plan
- It's everyone's dream to have their own business. Investing so much time, effort and money into a business is scary. So you need to have a financial plan.
The first question you want to ask yourself is, where do you want your business to be in two, five and ten years' time?
If you want to have a solid financial plan for your business and you've decided what your goals are, here are some use... ››› more
- [07 May 2015]
- Cash flow problems? Use these 12 steps in your accounting functions to reach all your business' goals in 2015
- I've come across many businesses who get overwhelmed with all their accounting functions and goal setting strategies at the beginning of the New Year.
They often complain that they set goals but never achieve them.
Because they're unachievable! Or they're not applied realistically to the business or accounting function.
If you don't plan properly, your business will have cash flo... ››› more
- [10 February 2015]
- If you're a small business owner, here's how you can save R34 291 in 72 hours
- Our client wrote into the Accounting and Tax Club to find out if her business benefits from registering for Turnover tax, if it's annual turnover doesn't reach the Vat threshold. Read on for the Q&A... +++ How can you be sure, with changing laws and regulations, that you…+++
- Interpret regulations correctly?
- Record company finances correctly?
- Avoid penalties and fines ...
And can you ... ››› more
- [24 May 2013]