Key terms of an inheritance . . . When a person (taxpayer) dies, that person is called a ‘deceased person’ and all his or her assets on the date of death will be placed in an estate. This estate is called an estate of a deceased person (commonly known as a ‘deceased estate’). Assets in a […]
Slips – AAARGGH! Slips are a pain! Our wallets get fatter with all the slips and loyalty cards than with actual cash. But this is not the way it should be. Fact is, you actually have to keep them if you want to be able to claim for the expenses attached to those slips. A […]
In business, the income or sales cycle is critical to your company’s survival. It brings in the money to move the company forward. Simple. Well, yes. The customer or debtor can pay you at a later time (up to 60 days) depending on your terms. This has all been captured in your accounting system already. The […]
Technology is taking the world by storm. Some might say that it is taking over. We can debate that for a fairly long time with little or no winner. In terms of accounting, tax and payroll, the technological advancements have been extreme. But does tech trump “old school” accounting? How tech has changed accounting Accounting: […]
Small business owners know that the accounting or business admin side of their business is a massive challenge. If left unchecked, it can lead to a mountain of slips and invoices lying all over the place. They run for the hills and only do it when they are forced to or really have to. Even […]
The employee is the most important part of the business engine. Look after them and they will drive your business forward more than you will ever expect. They can be the greatest asset or the biggest liability. This all depends on how they are treated. Here is a basic breakdown of the different types of […]
Everyone has an opinion or attitude towards everything in life. Whether it is outspoken or kept to yourself, you have them. Some attitudes are more subtle than others. This is generally where the attitudes towards accountants come into play. These attitudes are often swayed by public opinion or perceptions. These can be changed in your […]
Accountants have a reputation for being expensive. Admittedly, for a smaller business, accounting fees are a tough pill to swallow. A grudge payment if you will. But affordable accounting is not entirely out of reach.
We have drafted 5 questions to ask your accountant so you know what is required from you and what you can expect from them.
Just as the year is broken into seasons or cycles, the accounting side of your business is also broken into cycles. The first cycle is known as the sales cycle. This cycle is something that is often pretty obvious to most people. However, but many business owners do not complete the cycle, often failing to […]
