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

5 Reasons to Use an Outsourced Bookkeeping Service

We often meet a lot of clients at a critical turning pointing in their growth phase. Business owners who have met that illusive million dollar mark in annual revenue (though sometimes they arrive at our virtual door a bit later) and suddenly feel the burden of managing their own bookkeeping

8 Things you should know about Payroll in South Africa to avoid penalties.

Here’s how to avoid penalties at SARS and the Department of Labour – by not making these 8 common mistakes most entrepreneurs make when it comes to payroll in South Africa… Payroll in South Africa is not as simple as it seems. There’s a long list of requirements and submissions

Importance of Bookkeeping in Business

Why is the bookkeeping important to your business? Bookkeeping is important for any kind of business whether it small or big but nowadays, we see it has neglected the owners of the business. They do not keep any record of accounting transactions. So that reasons business often fails financial management

What is Inventory?

Inventory (also referred to as stock) can be defined as the products or items which are sold by a business or used to manufacture products which are then sold.   In a manufacturing business, inventory falls into three main categories: raw materials, finished goods and work in progress (WIP). Raw Materials