More Creative Ways to Cut Costs

 

Looking for more ways to cut back on your expenses? Here are 4 other simple ways to do it… Use part-time support staff. For occasional tasks like filing VAT returns, opt for part-time workers instead of full-time employees. Don’t overpay your taxes. Hiring an accountant does a whole lot more than bookkeeping—they make sure that [...]

 
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What Is a Budget Variance?

 

This deviation is called your “budget variance.” In other words, it is the difference between your projected amount or the budget and the actual amount realized. In accounting, your budget variance plays a key role in your management accounts. It can be the basis for analyzing your earning and spending patterns, or for your financial [...]

 
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Top 3 Budgeting Software Tools for Small Businesses

 

Here in Johannesburg, a lot of business owners understand the value of budgeting but don’t know what software to use to create one. Whether or not you have a Johannesburg accountant, here are our recommendations of the best budgeting tools that will work for you. Microsoft Excel – This is a staple for computer owners. [...]

 
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Best Software Tools for Analyzing Operating Expenses

 

Have you ever thought about using a software to help your cost analysis become easier and more convenient for you? If you’re not sure which tools to use, then take a look at my top three recommendations! Pastel Accounting – It’s no surprise that this is the most popular accounting software in South Africa. This [...]

 
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How an Accountant Can Help You Understand Your Numbers

 

Accounting is the language of business. Whether it’s for planning, budgeting, filing tax returns, or something else, hiring an accountant is one of the best decisions you can make for a growing business. But if you’re still having second thoughts on hiring the services of an accountant, here are three things to think about. Accounting [...]

 
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What Is a Profit Margin?

 

Usually, your company’s earnings don’t tell you the whole story. An increase in your income does not necessarily mean increased profitability. That’s why you need to take a look at your profit margin. You’ve heard about it from your accountant and other providers offering bookkeeping services. But did they tell you how to calculate it? [...]

 
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Why You Should Measure Gross Profit

 

Do you pay close attention to your gross profit? Quality accounting services can help you understand your numbers and what they’re telling you. Your gross profit will help you answer these two important questions… Is it good business? This is simple. Are you making a reasonable profit? By looking at your gross profit number, can [...]

 
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Gross Profit vs. Net Profit

 

Are you among those business owners who think that gross profit and net profit mean the same thing? Technically, they are both “profits” and make use of revenues and expenses in the same equation. But in finance parlance, you use them differently in your financial statements. In accounting, your gross profit is the difference between [...]

 
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3 Collections Best Practices

 

Have you ever experienced having clients who are delinquent with their payments? Problem is, it may not be only because they have forgotten they owe you but because you’re not serious enough with your collection efforts. If you don’t do something, your financial management accounts will be at the mercy of your debtors. So if [...]

 
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How to Make Sure Your Invoices Are Paid Promptly

 

Are you paying enough attention to your receivables? If you’re like many business owners, you only press on collecting debts when you’re low on cash.  But if you had a systematic collections system in place, you’d be low on a cash a lot less often! So how do you collect on invoices and debts without [...]

 
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