Think Outside the Box: Creative Ways to Cut Costs

 

Are you looking for ways to minimize your expenses and boost your company profits? Look no further! Running your business doesn’t have to be harsh on your budget—IF you’re creative enough. There are many ways to save yourself from a deficit without cutting staff or settling for substandard work materials. Just follow these creative techniques [...]

 
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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 to Do When Your Budget Doesn’t Match Reality

 

No budget plan is perfect. The reason it’s called a budget is because it is merely a projection of how you should spend to meet your financial goals. But as it always does, the unexpected happens. So what if your budget doesn’t match reality? This can particularly happen when you underestimate your resource allocation or [...]

 
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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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How to Prepare a Budget for Your Business

 

All business owners understand the importance of budgeting on a theoretical level. But a lot of them believe they can’t do it because they have a sense that it’s too technical and complicated. As a result, many business owners hesitate to prepare a plan. If you think you can’t do it, you are underestimating yourself. [...]

 
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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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Analyze Your Operating Expenses

 

Too many business owners focus on increasing their sales without paying enough attention to their expenses. The truth is, you can’t increase your profits without controlling both your sales and expenses. If you ignore the importance of minimizing your expenses, you will soon find yourself tired and weary of maximizing your sales effort without improving [...]

 
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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 to Increase Gross Profit

 

Your gross profit can help you manage your costs and revenue generation more efficiently. Armed with the right knowledge, you will find yourself a better manager and decision maker. An increased gross profit means a better business—and more importantly, more money. (For a step-by-step tutorial on how you can compute your gross profit, see this LINK). [...]

 
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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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