Category Archives: Accounting

The Risky New Trust Landscape – What Trustees Need to do Now

“The common assumption is that trusts are some kind of tax panacea…Then, conversely, from a South African Revenue Service (SARS) perspective, trusts are viewed with a degree of suspicion and mistrust. [T]he truth lies somewhere between these positions.” (Broomberg on Tax Strategy) The legal and tax landscape in which South African trusts operate has changed […]

Ten Often-Overlooked Ways Your Accountant Can Help Your Business

“If you talk to a top accountant about his field of expertise, it’s mind-boggling.” (Vincent Kompany, professional football manager and former player) Accountants are the tax and compliance champions of any industry, but the best ones do so much more for their clients, as strategic advisors and trouble-shooters who can also assist with automating a […]

Five Essential Bookkeeping Tips for Small Businesses

“Making good judgements when one has complete data, facts, and knowledge is not leadership – it’s bookkeeping” (Dee Hock, Founder and CEO of VISA) When running a small business, it often feels like you are doing everything yourself, and some important tasks can slip under the radar. One aspect that should never be forgotten though […]

Choosing Accounting Software for Your Small Business

“Creativity is great – but not in accounting.” (Charles Scott, Former governor of Kentucky) Being able to track money as it is coming in and going out is essential for small business owners. Not having proper cash flow management and a full understanding of where your money is going makes it hard to analyse where […]

Five Financial Reports for Informed Decision-Making

“What gets measured, gets managed.” (Peter Drucker) Financial reports, such as a balance sheet, income statement, cash flow statement, debtors reports and actual spend vs budget reports, provide an understanding of where your business stands financially at a certain point in time. They detail the business’s financial performance over a period and also raise red […]

Financial Year End Reporting: Challenges to Manage, Opportunities for Benefit

“Any remedy is going to depend on having financial statements that are reliable” (Tom Foley) On the last day of February each year, many companies face their end of financial year or “EOFY”.  Whether it’s referred to as the EOFY, Close of the Financial Period, Financial Year End or FYE, or simply ‘Year End’, this […]

Accounting Tips for SMMEs in a Rocketing Tax Future

“The avoidance of taxes is the only intellectual pursuit that carries any reward”: John Maynard Keynes While there are diverse reasons why SMMEs ultimately fail, financial mismanagement and poor performance are two of the most often-cited explanations. A financial forecast as a tool, allows businesses to plan their finances for the future – with the […]

Who will Emerge as Winners and Losers in the Post Covid-19 Marketplace?

Many trends that emerged in the lockdown period will almost certainly continue post Covid-19. Technology, for example, has received a huge boost with products like Zoom now household names. One thing we shouldn’t forget is that periods of anxiety and boredom provide a perfect platform for creativity to flourish. Hopefully, many of you have taken […]