Cashflow Management Tips For Small Business
No matter how expertly you manage your budget, you can confidently project a surplus at the end of the year and still not have enough cash at some point during your fiscal year. That’s because money doesn’t always come in and go out smoothly from day to day or month to month. In order to […]
Continue readingFinancial Accounting: Introduction To Small Business Accounting Terminologies
Understanding small business accounting vocabulary is an important first step in learning how accounting really works. So let’s look at some key terms in financial accounting and their meanings. The Journal, sometimes call the Book of Original Entry or more commonly the General Journal, is how transactions are entered into accounting records. It is a […]
Continue readingThe Essential Elements Of VAT Invoices
If you happen to manage a small business for which you are registered for Value added tax, then its important that whenever you supply goods or services to anyone else you must issue him or her a VAT invoice. Being a registered business enterprise, you’ll be able to reclaim Value added tax on purchases made […]
Continue reading6 Reasons A Start Up Business Needs An Accountant
Errors in your accounting or neglecting to comply with statutory requirements can have significant consequences for a start up business and most small business. For example not knowing when to register for VAT or PAYE can result in serious penalties for suspected income tax and VAT avoidance. For a sizeable corporation, this can hurt both […]
Continue readingThe Various Types Of Trade Debtors
Debtors are monetary claims against others. Debtors are acquired mainly by selling goods and services, or by lending money. Managing trade debtors is an important part of the businesses cash management proccesses. The three most common type to debtors are: accounts receivable or trade debtors, notes receivable and all other types of receivable which we’ll […]
Continue reading