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Accounting

break-even point

Understanding Your Break-Even Point: The Cornerstone of Profitability

As a small business owner, you’ve likely experienced sleepless nights wondering whether your venture is truly profitable or just treading water. Amidst the daily hustle of managing operations, it’s easy to lose sight of the fundamental financial metrics that determine the success or failure of your enterprise. This is where understanding your break-even point becomes […]

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Business Rescue in South Africa

Business Rescue in South Africa: A Lifeline for Struggling Businesses

Is your South African company facing mounting debts and cash flow problems? Don’t despair. Business rescue, a process enshrined in Chapter 6 of the Companies Act, offers a lifeline for financially distressed businesses. It’s a chance to rehabilitate your company, return to solvency, and avoid the harsh reality of liquidation. What is Business Rescue? Think

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accounting challenges

5 Accounting Challenges South African Startups Face and the Tools That Will Fix Them

Are you a South African startup founder drowning in paperwork? Do you spend more time chasing receipts than chasing your dreams? If chasing financial health feels like a losing battle, you’re not alone. South African startups face a unique set of accounting hurdles that can derail even the most promising ventures. But here’s the good

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accounting fees

Demystifying Accounting Fees: A Transparent View of Service Costs

If you are a South African entrepreneur or business owner, you may have wondered how much accounting services cost and whether they are worth the investment. Accounting fees can be a source of hesitation for many businesses, especially if they are not clear about what they are paying for and what value they are getting

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Accurate Financial Records

The Secret to a Successful Startup: Focus on Accurate Financial Records

Most entrepreneurs obsess over their big idea – the product that will revolutionise an industry, the service that will disrupt the status quo. But the secret weapon for startup success might surprise you: meticulous financial records. Forget the flashy pitch decks and sleek prototypes for a moment. Accurate bookkeeping could be the difference between fizzling

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Benefits of Cloud-based Accounting Software For Small Businesses

10 Benefits of Cloud-based Accounting Software For Small Businesses

Contents Table1 10 Benefits of Cloud-based Accounting Software For Small Businesses1.1 1. Accessibility from Anywhere, Anytime1.2 2. Automatic Data Backups1.3 3. Improved Collaboration1.4 4. Real-time Financial Insights1.5 5. Scalability and Flexibility1.6 6. Reduced Costs1.7 7. Enhanced Security1.8 8. Simplified Tax Filing1.9 9. Integration with Other Business Applications1.10 10. Improved Decision-making In an era where business

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managing cashflow

5 Tips for Managing Cashflow as a Non-Financial Owner or Manager

If you’re not exactly a money genius but want to keep the cash flowing smoothly in your business, we’ve got your back. Managing cashflow is like tuning into the heartbeat of your business – it’s all about money coming in and going out. You’ve got to keep it in check to make sure your business

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How Does Cloud Accounting Work?

How Does Cloud Accounting Work? A Complete Guide for South African Businesses

Contents Table1 What is Cloud Accounting?2 What are the Benefits of Cloud Accounting?3 How Does Cloud Accounting Work?3.1 Step 1: Choose a Cloud Accounting Software Provider3.2 Step 2: Connect to Online Banking3.3 Step 3: Create Invoices3.4 Step 4: Track Expenses3.5 Step 5: Generate Reports3.6 Step 6: Collaborate with Your Accountant4 How to Choose the Best

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How to Calculate and Improve Your Gross Profit Percentage

How to Calculate and Improve Your Gross Profit Percentage

Contents Table1 Introduction2 What is Gross Profit Percentage?3 What is Cost of Goods Sold?4 How to Interpret Your Gross Profit Percentage5 How to Increase Your Gross Profit Percentage5.1 3 Practical Tips and Strategies That You Can Try6 Conclusion Key Takeaway Gross profit percentage is the ratio of gross profit to net sales revenue, expressed as

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accounting for revenue

Accounting for Revenue: A Guide for South African Businesses

Contents Table1 What is Revenue?2 How is Revenue Recognised?3 What are the Types of Revenue?4 Why is Revenue Important?5 What are the Accounting Standards and Regulations for Revenue?6 Conclusion – Accounting for Revenue Key Takeaways – Accounting for Revenue: Revenue is the amount of money that a business earns from selling its goods or services

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