Business Management, Financial Management
Reconciliations are a fundamental accounting process to check for accounting errors or fraudulent activity within your business accounts. Matching your internal financial accounting records to supporting records or performing analytical reviews of your accounts at...
Business Management, Financial Management
You need up to date and accurate information to make the correct decisions within the management of your business. One of the hurdles to this, is the delay in management information. This is usually due to month end processes not being efficient and being...
Debtor Management, Financial Management
Your clients and customers are a crucial part of your business. Without them, you can’t really call it a business. They do however need to adhere to your agreement on payment terms and unfortunately, many clients and customers need to be reminded of their...
Budgeting, Business Management, Financial Management
Failing to plan, is planning to fail. A well-planned budget process will facilitate a thorough rethink of your income cycles and cost processes. You might be surprised at what inefficiencies hide in your costs! As such, I am a fan of zero-based budgeting. If you use...
Business Management, Financial Management
Cash flow is typically cyclical. During some portions of the month, your net cash position might be positive, but you do not earn any interest on this. You might also have other long-term facilities like vehicle finance or bonds on which you pay interest at a much...
Business Management, Financial Management, Tax
Tax is an expense and expenses should be managed and kept as low as possible. That is a basic business principle. To manage tax, you need to be able to estimate it (“to measure is to know”, if I may quote a previous employer). This entails being able to know your...
