Why Cloud Accounting is the future

The birth and the introduction of technology  has brought a new face on how accounting traditionally was processed.  Where transactions were manually recorded in columnar papers and kept in a huge folders. Once computers became popular with its accompany affordable software, accounting tasks change from the traditional method  into this medium, where concepts stayed the …

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Bookkeeping, a key to Small Business Success

For any small business that aims to grow and be successful, systematically and comprehensively recording financial transactions must be paramount. Raising and issuing out invoices, filling requisitions and payment vouchers, recording bills and filing receipts, filing tax returns and a well-run financial operation is crucial to success and can help preempt problems that may arise …

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Why Profitability Is Key to Assessing Your Business Growth

Why Profitability Is Key to Assessing Your Business Growth Every emerging organisation be it small, medium or large has certain inherent reasons for its conception. The nature and characteristics can further explain the type of business in question, as to whether or not the business is profit making, nonprofit or a charitable organisation. In this …

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5 Questions to Ask Your Accountant

As a small business owner, you wear many hats – developing the product, handling distribution, doing sales and chasing customers for payments, closing fund raising with investors and on top of all these managing your finances and keeping your books. This can be very overwhelming and you may need to outsource certain functions to in-house …

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How Does Outsourced Bookkeeping Work?

After speaking to a few professionals who had had the opportunity to work with at least an SME either as an account officer, finance officer or during an audit, it was gathered that, most of these business owners wanted to have ultimate control of their financial information without sharing. Others also had not had a …

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How To Manage An Asset Register

Managing a business’s assets as an entrepreneur can be needlessly overwhelming. This can be made easier all year round with a simple and well-organized asset register template. What’s an asset register? An asset register basically shows the asset the business owns. It details the value of assets, date of acquisition (and of disposal) and other …

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How can financial reporting positively impact my business?

In the past, most businesses never saw the need for financial reporting, they never appreciated how it will contribute to business growth and survival. Such businesses were often denied credit facilities they sought for business expansion and related reasons. They also suffered from losing a lot of business opportunities that having financial statements came with. …

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Why you should reconcile your books

When was the first or last time you wrote down your day’s expenditure? Do you even take time to reconcile or balance your bank statement or mobile money mini statement with the records of expenditure you may have penned down in a cash book? From our experiences, hardly do small businesses do that. The bank …

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