While not all small business owners fully understand the Income Statement and Balance Sheet, most recognise them and have a broad idea of what they are and how to use them. However, the Cash Flow Statement is probably the financial report most responsible for confusion, blank looks and mild panic in small business owners. This is a shame, because it’s actually an extremely handy report that can give you some very valuable insight into the health of your business.
“But if that’s my profit, why is my bank account so empty?” This is a question I encounter on a regular basis when a business owner looks at their Income Statement – especially at tax time! Your Income Statement has a lovely healthy profit but your bank balance is moth-eaten and sad, how can both […]
Managing your cash flow and forecasting not only helps you stay on top of things and stay in business, but it is also a vital part of business strategy. It should be your number one priority as a business owner.
We live in a technological age and everyone has embraced the cloud - right?
Pharsyde offers bookkeeping, accounting, payroll and tax services for professional individuals and small-medium businesses. Beyond that extremely boring sentence, we are focused on helping businesses grow and develop - we want to see you succeed!
This article was originally published on Find An Accountant South Africa, if you want to read the original, you can find it here. Too many small business owners are unaware of SARS’s requirements for their documentation! If you are registered for VAT, and don’t want to incur a surprise penalty bill, then you need to […]
Good financial records are vital to the health of your business – but that doesn’t mean that you are in a position where you can afford a bookkeeper. Do not fall into the trap of thinking you can “catch up” on your bookkeeping at tax time. You need to know what is happening in your […]
This article was originally published in YourBiz magazine, you can find the original here. Cash is the lifeblood of your business – one cannot over emphasise the truth in these simple words. A good bookkeeper and accountant are essential for recording financial information and keeping you up to date with your financial situation, but the […]
This article was originally published on Find An Accountant South Africa, you can find it here if you prefer. The terms “bookkeeper” and “accountant” are often mixed up and used interchangeably. Many a small business owner will tell you that they have an accountant who comes in once a week or once a month to […]
