If you still use spreadsheets and physical bank statements, bills and receipts to track your company’s finances, then you will know how error-prone and time-consuming it is. There are two ways to solve for this: Pay an accountant to capture and reconcile your transactions in a proper accounting system. Do it yourself You can save
Turnover tax is the best kept secret in plain sight for SMEs. It is a simplified system aimed at making it easier for a business with an annual turnover of R1 million or less to meet their tax obligations. The turnover tax system replaces Income Tax, VAT, Provisional Tax, Capital Gains Tax and Dividends Tax
If you intend to grow your business from micro to small to medium, you will need discipline and diligence, especially when it comes to your business’s finances. Typically, SMEs do not have an in-house accountant, meaning that this critical business function is then outsourced. CN Outsourced Finance provides business advisory solutions for small to medium
Each financial and tax year has deadlines and you would be wise to keep to these. Timeous submission means you will avoid late-submission penalties. This helps to keep the cashflow healthy which is imperative for the success of any SME. That said, here are the deadlines to remember: VAT Manual submissions of the VAT201 and
