Robley Baynes – Page 10

08Aug 2019 by Robley Baynes

3 Reasons Why All Entrepreneurs Should Hire a Chartered Accountant

3 Reasons Why All Entrepreneurs Should Hire a Chartered AccountantI’ll go ahead and say it – every entrepreneur should hire a Chartered Accountant (CA). And no, I’m not just saying this because I'm a Chartered Accountant. I’ve had the pleasure of chatting with many successful business owners over that last couple of months– and the majority say how they couldn’t have done it without the help of their CA. And if someone didn’t use one, they definitely wish they had, knowing inwardly the benefits of having one.Read on for Three (3) Good reasons why Entrepreneurs should consider hiring a Chartered Accountant: CAs free up time for entrepreneurs to actually focus on their business. I could be wrong, but I’m sure most aspiring entrepreneurs would prefer having the time to bring their…

29Jul 2019 by Robley Baynes

Virtual CFO’s – Technology doing the heavy lifting

Cloud Accounting

Virtual CFO’s – Technology doing the heavy liftingIf you have been wondering. The Robley Baynes entire team work remotely and some even in other countries! Yes, other Countries! Robley Baynes is a XERO Certified Bronze Partner. Our Partnership with XERO has allowed us to establish a Growing Regional Brand.This may be from our homes, co-working spaces or coffee shops. Cloud Accounting makes it easier for you to keep up to date with your day to day business transactions,hence reducing the margin of error in making. This will allow you to make prompt and accurate Business Compliance Filings avoiding increased taxation and or penalties from the Revenue Authority.Technology is rapidly changing the way you do business Globally with Robley Baynes & XERO, we get you up and running smoothly taking the…

22Jul 2019 by Robley Baynes

4 Ways to Improve the Financial Health of Your Business

Financial Management

4 Ways to Improve the Financial Health of Your BusinessPoor cashflow can be the cause of the death of your businessSo, how do you improve your cash flow?We've shared our top tips on Cash Flow ManagementCUT OUT INEFFICIENCIESThis includes monitoring your overheads to see if you are spending unnecessary money on running your business e.g. Late Payments on Tax FilingsCONTINUE TO INVEST IN PEOPLE AND RESOURCES. Investing in your business by hiring new staff including and skilled professionals and equipment will eventually lead to greater profits and more money coming into the business.SPEED UP COLLECTIONS PAYMENTS This involves encouraging your customers to part with their money before the end of the invoicing period. E.g. Early payment discounts etc.MAKE PAYMENTS TO CRITICAL SUPPLIERSIf you are unable to pay Invoices as it falls due,…

15Jul 2019 by Robley Baynes

Take Advantage of the Tax Amnesty. Become Compliant, and Avoid Penalties and Interest

Tax

Take Advantage of the Tax Amnesty. Become Compliant, and Avoid Penalties and Interest As of 25th June 2019, Act 13 of 2019 effected the current Tax Amnesty which will expire on 15th September 2019. The amnesty covers outstanding taxes for the year 2018 and prior. Once outstanding taxes are paid before 15th September 2019, these payments will not attract any interest. Additionally, outstanding tax returns filed for the years 2018 and prior will not attract any late penalties. The amnesty doesn’t take the 2019 liabilities into effect and later payment for 2019 tax expenditure will attract interest. The taxes covered by the amnesty include: Corporation Tax Income Tax Gaming Tax Unemployment Levy Petroleum Tax Heath Surcharge Value Added Tax Stamp Duty Property Tax Financial Services Tax Hotel Accommodation Tax Insurance…

08Apr 2019 by Robley Baynes

Bookkeeping to run your business

Small Business Guides

Accountants help keep your finances in order but bookkeepers play an important role too. So what's the difference between a bookkeeper and an accountant? And how can a bookkeeper help you run your business? Bookkeepers and accountants are not the same If you’re a small business owner, you’ll be familiar with juggling several tasks at once. As well as keeping things running, you need to generate income, keep your customers happy and look after financial information. Tracking the financials can be a chore though, and one of the biggest questions you might have is who you get to help with your accounts. Do you need an accountant, a bookkeeper or both? Let’s demystify things. Accountants and bookkeepers have different jobs and responsibilities. An accountant’s main focus is: the preparation and…