Effective financial record-keeping is essential for business survival and growth. It entails planning, organizing, controlling and monitoring your financial data to achieve the ultimate business objective. Most small and medium business owners often neglect to follow through religiously, this sometimes may be due to either not having full knowledge of keeping appropriate records or having a hard time doing so.…
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 in the future. Typical of…
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 holistic view of the need…
Immediately you leave your comfort zone and launch your business, it might feel like the engine of your brand-new car is running faster than you can control. It is always up to you the driver to apply the brakes to control the speed. Likewise, as a business owner, it is your responsibility to regulate the flow of your business. In…
Starting one’s own business is a huge milestone for every entrepreneur. After getting the courage to transfer the idea into reality, the next thought is to make the business grow and be highly sustainable and successful. Only few business owners develop the habit of keeping their accounts up-to-date and tax records in order. The focus is usually on making more…