Bookkeeping is important for helping you maintain accurate financial records. Yet still, many businesses fail to implement this integral process. Besides the fact you are required under law to maintain accurate books and records, doing so will save you frustration later on. In fact, “poor accounting” is one of the
A business idea is just the first step in a long journey that will lead your company to success in the future. There are many people who come up with great ideas, but find their business fails because they don’t implement the right systems to help the company to succeed.
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
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. 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
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
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
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
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
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.