Preparing and Planning your New Financial Year 5 steps to preparing for the New Financial Year Year-end is looming, we are rushing around to make our Annual Sales Goal, submit our tax returns. Did we exceed it? Did we make it?  Let us reflect on the last 10 months of the current year and make a plan for the New Year. Let us look at the Good and the Bad and how we can make it better, make it grow. Reflect on the current year and compare it to the previous year, month vs month. Firstly, see what worked and what didn’t work, the best place to look is at your Income Statement and Balance Shee ..read more

 Income Tax 2020 Income Tax 2020 – Are you ready? SARS has published new deadlines for you to submit your Income Tax Return for the period 1st March 2019 to 29th February 2020. Tax Season opens on the 1st September 2020. Individuals with one salary need to submit there tax return between 1st September and 16th November 2020. Your tax return can be submitted online using SARS efiling. Put your documents together so you are ready to file. IRP5 Certificate from your employer Medical Aid Certificate from your Insurance Broker Any Medical expenses not covered by Medical – put those slips ..read more

Holiday Shutdown List Preparing to close for the Holidays Its that time again the mad rush to pack up and close for the holidays. There is lots to do, so I have created a to-do list, a plan to help you. There is lots to do! So the first thing you need to have on hand is water or an energy drink and some vitamins because we all just want to go on holiday. To the beach or camping in the vineyards, swimming in the river, leaving technology behind. I am, already there in spirit. Now that you have a little bit of energy, prepare and send out a letter. Send it to your customers and suppliers lettin ..read more

VAT Return/Refund and SARS and you. HOW TO: Ensure your VAT Return / Refund is correct. Dot your I’s and cross your t’s when you work with your VAT Return /Refund and SARS. It’s better to be correct the first time than trying to sort out VAT with SARS afterward. First of all, ensure you issue a Valid Tax Invoice to all your customers. Pop over to www.thebookkeepingcompany.co.za for a template of a Valid Tax Invoice. Second of all ensure you receive a Valid Tax Invoice from all your suppliers. Make sure all your suppliers have your correct details. 4 Ways to ensure you have ..read more

You, Your Staff and your EMP501’s and IRP5’s  EMP501’s IRP 5’s   Before I begin talking about them. The tax tables have been made available for the new Financial Year.  Grab them at www.thebookkeepingcompany.co.za/businesstools.co.za. Update your systems if you are manually doing your salaries and wages. Now its time for you as the Employer to submit your EMP501 to our friends SARS. Deadline 31st May 2018. What is EMP501, it is the Annual Reconciliation of all the salaries and wages that you have paid to your staff permanent, contract etc, it is the PAYE and UIF that you ha ..read more

Sage One Assistance I love numbers, but what I love more is a puzzle, that is where Sage One training and assistance comes in. I like to solve the problem. I got a call the other day begging for help, the accounting on Sage One was all incorrect. So off I went to solve the puzzle. Setup was okay, but numerous accounts were added that were not necessary, the staff member had added supplier accounts as ledger accounts and posted bank transactions to the incorrect places. This would have given the client the incorrect results of what is happening in their business. Anyone could have made these er ..read more

Sage One or Wave Accounting– which one is the correct one for your business? Out of the Top 10 Cloud Accounting Software – Sage One and Wave are my favourite. Choosing the correct accounting software for your Business. When I started my business, I purchased Pastel Express a desktop software, because I needed to use it for my clients’ books and mine. I didn’t immediately go out and buy it because it was not in my budget. So I started off with good old Microsoft Office Excel. I created my own set of books in excel. I still use excel on a daily basis. But I found an accounting package that works ..read more

 Verify yourself – Fica or your business! Take the headache out of Fica’ing your docs. I tried to open a bank account, a client went to SARS to Verify herself and her docs,a client tried to change the directors of their company with CIPC. Oh! What a headache, a lot of time wasting, a lot of standing in queues ….. Keep a file with your documents that you know you are going to have to FICA. Ensure the following are in order; Your name on all documents agree, tie up to your identification documents. Do a spell check and a spacing check. Yes, a space check. How many time does your name get ..read more

New Year’s Resolutions that will save you money    Every year, many of us make resolutions but we often don’t stick to them. In fact, around 80% of us break them, according to U.S. News and this is often done by the second week of February. The odds are definitely against you, but here we’ve compiled a quick and easy realistic list of resolutions and offer advice on how to stick to them so that you save money. Save for next year’s Christmas and festivities: We all know that Christmas and the festivities that come with it occur every year. Yet, a lot of us tend to struggle with our fi ..read more

2018 Plans – Goals – Expectations What are your goals for 2018, have you drawn up your business plan for 2018? Have you updated your cash-flow for 2018, your rainy-day plan, your profit plan? My One Goal for 2018 is to be profitable. While minimizing my expenses and increasing my sales and saving for a rainy day. Could your business survive on less and still offer the best product, and customer service. Could you, if you look at your business bank account or your personal bank account survive for the next 3 months without making one sale?  Book an appointment with me for a consultation on ..read more