Understanding Your Cash flow Statement

On December 7, 2019

The statement of cash flows, (also known as the cash flow statement), shows how your business has generated and used cash (and cash equivalents) within a specific time period. For each of the reporting categories, receipts and payments are listed (money in and money out), and this is reported as a net increase or decrease […]

Understanding Your Balance Sheet

On December 5, 2019

To understand the financial position of a business at a specific point of time, look at the balance sheet. The balance sheet may also be called the statement of financial position. Together with the Profit and Loss Statement, and possibly other reports such as the Statement of Cash-flow, these reports provide a complete understanding of […]

Understanding Your Profit and Loss Statement

On November 28, 2019

Your profit and loss statement (P&L) helps you understand your business performance and profitability over time. It’s sometimes called an Income statement and its main purpose is to list income and expenditure. Whereas a balance sheet is a snapshot in time, the P&L shows transactions over a specific period of time. This can be a […]

Holiday cashflow for your small business

On November 8, 2019

Whether you’re heading into a holiday period, or just planning to take a break (and congratulations, because a healthy business means work-life balance), it’s important to keep your cash flow under control. This means pre-planning and being proactive. When you’re not in the office, there are still overheads and salaries that need to be sorted. […]

Financial Habits of Healthy Businesses

On October 31, 2019

Most young businesses are ambitious and focused on their goal of creating brand awareness and product launches. Often, what they end up neglecting are the business finances, especially if the founders are not business graduates or financial specialists. Startups and new businesses are most prone to run into bankruptcy in their first year. A major […]

Making data meaningful for your business

On October 20, 2019

Three steps to ensuring data is meaningful for your business Raw data describes the facts and figures that business processes every day. Over time, every business hoards a certain amount of data and it only becomes meaningful to a business after it has been processed to add context, relevance and purpose. For example, in a […]

What is Fringe Benefits Tax?

On July 12, 2019

Fringe Benefits Tax (FBT) is a tax payable by employers for benefits paid to an employee (or an employee’s associate e.g. a family member) in place of salary or wages. This is separate to income tax and is calculated on the taxable value of the fringe benefits provided. In simple terms, it is a tax […]

Get your business records ready for end of year

On July 9, 2019

There is a lot to deal with at the end of the financial year, and while your tax return may not be due for some months yet, it is good business to get your 2019 records in order before you get stuck into the next tax year! What records do you need to have ready? […]

6 Ways to Measure health of Business – Financial Ratios

On February 27, 2019

When you’re running a business, it’s easy to get caught up in the day-to-day activity and lose sight of the big picture. Taking stock of the health of your business is important. Financial ratios can help in Analysing trends, Knowing where you allow for more effective planning, early warning about any issues, and the chance […]

Category: Accounts