With business and virtually all other economic sectors now largely operating with the technological tools of the digital age, companies everywhere have gone, or are currently going paperless. The operational detriments of continuing to collect space-consuming crates of archived paper accounting records and to transmit paper documentation as a way
Outsourcing your Financial Department – Why it works!
A South African economy under pressure forced decision makers in the SME market to review the total composition of their organisations. Naturally, salary bills had to be cut, in order to ensure the survival of the business remained top priority. Unfortunately the financial departments were also affected and have often
How advanced payroll systems can help to address Remuneration and HR Management issues.
How advanced payroll systems can help to address Remuneration and HR Management issues. Payroll problems can lead to widespread dissatisfaction among employees, especially if such problems cause delays in payments. Employees may become disgruntled when public holidays cause payment delays. This can also be the case when the person responsible
What Small Business Owners Need To Know About Balance Sheets.
Many small businesses reliably produce a set of financial statements each year, listing assets and liabilities, revenue and expenses, cash flow and shareholder equity. Often, outsourced bookkeeping services prepare these reports, but the documents are quickly forgotten by business leaders as they focus on the day-to-day challenges of running the
Should You Lease Equipment Instead of Buying It?
Every kind of business will eventually acquire new equipment and capital assets to continue its operations — manufacturers periodically upgrade their factory machines, service providers require the latest gear to serve their clients, retailers update store and warehouse fixtures, and executive and administrative offices retire out dated furniture, cubicles and
4 Ways to Use Professional Service Providers to Fill in Your Weak Spots
No matter how strong your accounting infrastructure is, you may have weak spots that prevent your business from growing. If you don’t have a solid foundation, you may encounter small and major problems in your payroll, tax and bookkeeping systems. Professional service providers help fill in your weak spots. When
4 Reasons We Discuss More Than Bookkeeping Services
If you are an ardent follower of our social media profiles, you may notice on occasion that we do not limit ourselves to bookkeeping focused topics. Don’t worry; we aren’t having an identity crisis. Instead we believe that it is our responsibility to share everything we can to support small
4 Factors You Are Likely Overlooking In Calculating Your Sales Margins
If you calculate your sales margins by subtracting the cost of inventory from your retail sales amounts, you might feel that you have a handle on your true profitability. However, using a simple formula for determining whether a product is profitable for your company doesn’t always reveal true profit margins.
Dear Director – How is your loan account looking?
Shareholders and directors need to familiarise themselves with the implications of having a director’s loan account in their companies. Especially – when the balance sits on the wrong side of the trial balance. The colourful SME landscape in South Africa is characterised by many thriving entrepreneurial enterprises. Astoundingly, these successful
10 Best Practices in Billing and Collections
Cash flow problems can sink even profitable businesses. Not having a modern, efficient accounts receivable system in place can make getting paid on time and in full difficult. The following are 10 actionable ways to streamline your billing and collections. No More Manual Systems Like you wouldn’t use a typewriter
