Do you know that separating your personal from business finances has a great advantage? All the underlisted steps can help you create a separation, making it easier to manage the money coming into and going out of your business. And all these are practicable for your business. 1. Be a limited liability business As a …
The main goal of all in business is to achieve maximum profit. There are innumerable definitions of Profit or profitability but simply put, it is the excess of sales price on cost price (i.e. the amount at which your selling price is higher than your cost price). Of course, the higher the selling price, and …
Maximising Business Profitability through Cost Management Read More »
In basic terms, to Audit means to review or to verify. The advent of the Industrial revolution moved business ownership from small business (sole proprietorship) to large scale production, giving rise to the need for audits. The growth of business enterprises that accompanied the revolution resulted in the accounting system and the instigation of the …
Employers should start doing these things now, even if COVID-19 has not arrived in the communities where they operate. You can already reduce working days lost due to illness and stop or slow the spread of COVID-19 if it arrives at one of your workplaces. Make sure your workplaces are clean and hygienic. Surfaces (e.g. …
HOW TO PROTECT YOUR BUSINESS IN AN EMERGENCY LIKE COVID-19 Read More »
The end of a financial year is strategic for every business and its owner. Beyond the statutory demands, attention is focused on issues of finance and accounting, information technology, general operations and administrative tasks to critically close out the year on a good note and to start off the following year in the right perspective. …
Have you ever tried to play smart and ended up regretting? Chances are you have. Well that is exactly what it feels like when you fail to remit your taxes by the due date, and it comes biting back.
Manually managing your business does not allow you maximise your precious time. Too many promising businesses fail because of poor financial management.
Without effective financial management, it will be difficult for your business to reach its desired goals. You could also experience financial losses – which if unchecked, will lead to bankruptcy.
“Great idea”, I hear what you say, “but where do I even start?” Allow me introduce BMAC Accounting software to you.