As the upcoming tax season approaches, we want to make the process less painless and a bit more enjoyable (or at least less daunting!). We’ve prepared a tax preparation checklist that will guide you through the necessary steps, minus the boring tax jargon. Let’s make taxes as painless as possible! Tax Prep Checklist # List 1 ⃣ Gather all relevant documents: 2 ⃣ Review personal details: 3 ⃣ Declare additional… Read more
Following on from our previous scaling up posts , the next MUST HAVE is keeping two separate sets of books. One for compliance or tax reporting and the other for internal management reporting – the goal of which is to simplify the numbers. Right about now you are probably thinking, how does this save me time and benefit me… “now I need to have two accounting programmes for different reasons”… Read more
Cash acceleration strategies Because cash is king, we thought we would reshare our blogpost on our useful tips on how to accelerate the flow of cash through your business. Understand your cash conversion cycle (CCC) Being able to improve how cash flows through your business requires an understanding of your cash conversion cycle. Your cash conversion cycle measures how long it takes for a Rand spent on anything (payroll, rent,… Read more
Let us commence by understanding and answering the following questions that are relevant: 1. What exactly is Trend Analysis? – This is a technique used to analyse an entities financial data by collecting information from multiple prior periods and using this information to generate valuable insights, to assist in understanding the past and making data based decisions to change the future. 2. What can Trend Analysis be used for :… Read more
What does it mean to you? It could mean the freedom to follow your passion in your career daily, while being paid a fair market related salary. For our clients, it could mean freedom from the daily grind of having to do finance or admin tasks, whilst having the peace of mind that their accountant has got this! To me financial freedom means the point at which I am financially… Read more
Why should you invest in proper accounting systems? If the #1 weakness of growth firms is marketing, the #2 problem is accounting. Accounting is often underappreciated and if not done correctly can lead to poor decision-making. Why should you invest in proper accounting systems? Clear the distortions As businesses get bigger, so do the nature of the day-to-day and week-to-week transactions. For a small business, basic bookkeeping,… Read more
The turn of the year usually prompts most people to think about some business planning for the year ahead. Here are some tips to make the planning more productive. Get your team involved Business planning works best when it’s a team effort. Involve your key staff and your advisors, such as your accountant, your mentor (if you have one), and others who can contribute meaningfully to the planning, such as… Read more
Every business needs a financial plan. Your financial plan gives you a way to monitor and review your cash flow, make adjustments to your spending, and anticipate any upcoming financial issues. It can also make you more prepared to request funding or find investors so you can bring more money into your business. Although many business owners are aware that financial planning is important, it is often overlooked. Without a… Read more
A top definition from The Urban Dictionary for “App Creep” refers to the uncontrolled additions or continuous growth of apps on an individual’s smartphone(device). This phenomenon occurs when the App Store is utilized in a reckless manner and the acquirement of apps is not properly defined, documented, managed or controlled. It is generally considered a negative occurrence, and therefore should be avoided. The same situation can manifest within all types of businesses, but small businesses in particular. Have… Read more