Finance

Budgeting for marketing

4 reasons why you should budget for marketing in your small business

There are broadly two sides of doing business: (1) bringing in cash and (2) managing the cash brought in. One important tool that assists businesses to bring in cash is marketing, especially advertising. In this article, we will look at some reasons why you should budget or make provision for marketing as you run your business. Awareness creation Goods and…

Payroll Accounting in Ghana

Payroll Accounting: What it is and how to do it properly

What is Payroll accounting? Payroll accounting is generally about properly accounting for salaries and wages of workers, taking into consideration the statutory obligations that arise and then making payments for them within the required time and with the right documentation. It hinges on 3 pillars: the terms of employment, the policies of the company, and the laws of the land.…

Which banks in Ghana are the most SME-friendly?

SMEs are the lifeline of our economy in Ghana. However, many SMEs have been excluded in the financial services due to sometimes high cost associated with accessing financial services. So we have compiled all banks in Ghana and their charges, right from the minimum opening balance, cost of cheque books to commission on turnover and e-banking or mobile services charges.…

How to manage your accounts during COVID-19

There are generally two ways of managing business transactions or records: (1) manually, through the use of notebooks or exercise books and (2) electronically, through the use of computerized accounting software like Built. In managing your accounting records or business transactions, these three (3)points should be of great concern: Recognition of revenue Accounting standards provide two main bases for this:…

How to pay your taxes, SSNIT in this period of COVID-19

While some businesses have attempted and found it difficult to make statutory payments, others do not have any idea on how to go about making their statutory payments in this period of COVID-19. This article seeks to give relief from such distressing situations. Statutory payments: what they are and when to pay them These are payments that, per the provisions…

7 Things Every Business Should Prioritize In Each New Calendar Year

The priorities for a business for any new calendar year may differ from another. However, it is noteworthy some activities should be a priority for every business for any new year, irrespective of the size or nature of business. In each new calendar year, there are 7 things every business should prioritize. These form the basis for this article. Find…