List of records

by | Feb 19, 2015 | Issues & Insight

Your business records must include all of the following: Records that show the following: Assets Liabilities Undrawn profits Loans A register of fixed assets Statement of annual stocktaking Detailed daily records of cash receipts and...

Record-keeping

by | Feb 19, 2015 | Issues & Insight

Record your INCOME and EXPENSES accurately. Here are some of the things you must record: Invoices issued to your customers Daily cash sales Investment incomes Bank statements Invoices received from your suppliers Till slips Bills Paid...

Are your Accounting Records up to date?

by | Feb 19, 2015 | Issues & Insight

Every year, you need to fill in a tax return for your business, giving SARS details of all your business INCOME and EXPENSES. At Collins Sebola Incorporated, we advise all our clients to get into the habit of keeping accurate records of every movement of funds in the...

Lets share BEE Status of small businesses

by | Feb 19, 2015 | Issues & Insight

All small businesses with an annual turnover of R5 million qualifies as EME (Exempt Micro-Enterprise) and a level 4 contributor to B-BBEE. Exempt Micro-Enterprises are not measured for B-BBEE purposes based on a scorecard. In terms of the Codes of Good Practice, all...