19 Oct Leveraging your admin to help you succeed
Leveraging your admin to help you succeed
The words Accounting and Tax do not get many of us excited. They are usually painful afterthoughts that distract us from running our business. If done correctly, they can be used as a vital tool in your arsenal for success.
Sorting out your books from day one will not only avoid headaches in the future but also provide your business with:
- Professional Invoices to impress your clients
- Debtor management – the ability to know exactly who owes you money and when. You can then send them professional statements
- Avoid Tax Penalties – SARS charges penalties plus interest on unpaid tax
- Facilitate Investment – A potential investor wants to know what they are buying into and that accurate processes are in place
- Enhance decision making – 20% of your customers normally generate 80% of your revenue, accurate accounting will help you identify which ones
Start your business on the right foot and ensure you consider your accounting and tax requirements from the get go.