Data Capturing,Transactional Allocations and Reporting

Data capturing is important in every business, not for future use only but for the end results. We need to make sure that we understand how each transaction affect our books, as that will have an effect on our reporting. 1. Capital – at no point should money put into the business by the ownerContinue reading “Data Capturing,Transactional Allocations and Reporting”

The important of Independency in Business

Business is not easy, we are most likely the generation that is classified as the ‘FIRST’ to embark in this entrepreneurial journey in our families. And that is thanks to our young democracy.It is also understandable that in your early years in business you will feel the need to have some form of support orContinue reading “The important of Independency in Business”

Saving Cash as a new Business Owner

1. Run Your Business From Home This is one of the easiest ways you can start saving a lot of money that comes into your business. With this, you have to carry out the feasibility of your business within the area from where you want to operate first. Rather than waiting to raise cash toContinue reading “Saving Cash as a new Business Owner”

Income Statement

An Income statement is simply, Revenue less your raw material, less your operational expenses and having the net profit. To simplify it for you, I always refer to the income statement as the “business payslip”. Every entrepreneur / business person need to familiarize themselves with how to read their business income statement. It is, afterContinue reading “Income Statement”

Daily Bookkeeping Routine

Let’s do our books right while it’s still early in the year, shall we? As a small business owner / entrepreneur we often focus more on the operations of the business. Though there is nothing wrong with that, we however need to remember the role the figures play in our entities. Knowing our business performanceContinue reading “Daily Bookkeeping Routine”

Running a Professional Business – Invoicing 101

In this new year, may all entrepreneurs and small to medium enterprises commit to run their businesses professionally! Let’s start with the most basic step to compliance i.e data entry Starting a business requires one to have capital or resources. Most of the times we are limited because of the lack thereof. However, that shouldContinue reading “Running a Professional Business – Invoicing 101”

COVID-19 | Lessons Learnt

COVID-19 Lesson Learnt It is no doubt that the current pandemic has been painful to a human kind and a much terrible experience to the world. However there are few things that I have observed thus I refuse to just reject the current situation as a wasted experience. There are really few positive pointers IContinue reading “COVID-19 | Lessons Learnt”

The difference between working with an Entrepreneur and a Business Owner, from an Accountant‘s perspective

As accountants, we work with different types of business owners within various scopes in our practices. The focus today is to tackle the difference between working with an entrepreneur and a business owner from an accountant perspective. Allow me to state the differences hereof: Differences between Entrepreneurs and Business Owners are not vast and thisContinue reading “The difference between working with an Entrepreneur and a Business Owner, from an Accountant‘s perspective”