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Money Matters

5 tips to drive profitability with financial reporting 

All entrepreneurs realize the importance of money to their business operations. Without money flowing in and out on a daily and weekly basis, the enterprise that you worked so hard to get off the ground just won't survive. Having a product or service that consumers want and that you can sell for profit is a start, but managing that money effectively is what will make your company viable in the long run.

One way to stay on top of your finances is regular, clear and effective financial reporting.

The quick guide to payroll compliance
How are you keeping up with the ever-changing compliance factors impacting the payroll function? Managing the many aspects of payroll compliance can be tricky because the rules change so often. While changes to payroll tax are routine, legislative complexity makes it difficult to keep tabs on everything. Failure to maintain compliance hits businesses where they…
5 tips for hiring an outsourced CFO

As an entrepreneur, you probably feel like you have to be the chief cook and bottle washer in your growing business. But can you also be the chief financial officer (CFO)? It may be possible to do it all yourself when you are just starting out. But as your business expands you will soon need someone that can do more than just “take care of the books”.

Insufficient financial runway

Article written by Allon Raiz (CEO of Raizcorp)

There are two funding rules of thumb that too few startup entrepreneurs are aware of. The first is that the timeframe you have predicted to break even will normally be double that time in reality. The second is that the funding you need, according to your predictions, will turn out to be four times more than what you thought. These rules of two and four have massive implications for any business’s ability to survive the initial months and years of its existence.

As entrepreneurs, we fall in love with our ideas and tend to overestimate the market acceptance of those ideas. As such, our beautiful Excel spreadsheets reflect a linear if not exponential growth in sales. This is generally exacerbated by our predicted expenses being completely inaccurate and understated with numerous missing line items.

The benefits of outsourcing your accounting and audit needs

Bookkeeping might be the process of recording business transactions after they happen, but accounting and advisory is so much more than that. Entrepreneurs cannot treat accounting and advisory as an afterthought. Accountants should help you make decisions about the future.

Accounting services should be about more than just bookkeeping and financial admin. Instead, good accounting services can help you to analyse transactions to gain valuable insights to plan for the future. It can offer the financial guidance your business needs to ensure its growth and financial success.

But whether you are a small business (with an even smaller team) or a more established company that is scaling up, you may not always be able to rely solely on the accounting expertise in your team. Outsourced accounting services can give your business access to expert accounting and tax advice exactly when you need it.

Why reliable collection and payment is indispensable for SMMEs

Small and medium-sized enterprises (SMMEs) often navigate challenging waters. These enterprises are the backbone of our economy, driving growth, innovation, and job creation. However, they may face financial fluxes, making optimising every aspect of their operations essential. One such aspect that deserves attention is payment collection. 

Steven Maier, Chief Brand Officer at Amplifin, South Africa's leading collections and payments solutions provider, underscores the importance of reliable payment collection for SMMEs.

An accountant’s top tips for tax year-end

This tax year-end, rather than focusing on cutting your tax bill, focus on growing wealth. Discover nine strategies to get you started.

Article written by Jasper Basson (Sage)

It’s that time of the year when many entrepreneurs explore ways to limit their income tax liability before the 29 February deadline. Rather than focusing on cutting your tax bill, I propose a different strategy to my clients: Focus on growing wealth and use the tax year-end time to review your financial situation and make changes, if necessary.

In this article, we highlight nine things to think about to reduce your tax bill and grow your wealth.

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