Robley Baynes – Page 3 – Robley Baynes

07Sep 2023 by Robley Baynes

A Guide To Management Accounts

Did you know that it’s very simple to track business growth? Using management accounts, your business can have access to valuable insights that will increase revenue and business growth. WHAT IS MANAGEMENT ACCOUNTS? Management accounting is a discipline that involves generating and presenting financial and non-financial information to aid managerial decision-making within an organization. While there is no universally agreed-upon set of principles for management accounting, there are several key principles and concepts that are commonly followed. THE BENEFITS OF MANAGEMENT ACCOUNTS Management accounts allow you to have access to detailed information of the operations of your business. The analytic report usually contains vital information such as the cash flow, the profit and loss position and the financial operations. Without a full grasp of how your business is performing,…

16Jun 2023 by Robley Baynes

Tax Amnesty – 2023

Uncategorized

Tax amnesty – 2023As a business owner it’s difficult at times keeping up with current trends and tax updates which is why you must always take advantage of the tax amnesty period when it comes around. What is Tax Amnesty? Tax amnesty allows taxpayers to voluntarily disclose and pay tax owing in exchange for avoiding tax evasion penalties. It is a limited-time opportunity for a specified group of taxpayers to pay a defined amount, in exchange for forgiveness of a tax liability relating to previous tax periods.The benefits of a Tax AmnestyThe benefits of using amnesty may include avoiding expensive financial debts.In other words if you owe the government $150,000 for the past 3 years, during this period you’re given the opportunity to pay this set principle amount without any interests…

18May 2023 by Robley Baynes

BUSINESS REGISTRY – THE COMPLETE SET UP

Corporate Secretarial

Getting your business registered completely can be a hefty task at times. Before getting into the nitty-gritties of business registry the full corporate solution subscribe to our YouTube channel for daily business and personal finance tips: https://www.youtube.com/@robleybaynes5602/shortsWhat is Business Registry?A company register is a register of organizations in the jurisdiction they operate under. A statistical business register has a different purpose than a company register.Business Registry SystemOn 1st February 2023, TRGD commonly know as The Registrar General Department launched a registry system called CROS (Company Registry Online System). This System was created to submit electronic documentation to the registry to make the business registry process easier and faster.Types of Business RegistryThere are 4 common types of business registry done in Trinidad and Tobago which are:Sole Trader/ Sole Proprietor - A…

27Apr 2023 by Robley Baynes

Payroll Management Cont’d

Payroll

PAYROLL MANAGEMENT CONTINUED With the assistance of innovative technological systems your payroll process/management can be up to date and accurate. About Payroll Software’s/ Systems Payroll software’s are internet-based technology used by companies to manage and maintain employee paychecks and more. Get the HR & Payroll Solution That Suites You Best Robley Baynes Tax and Accounting Services provides a variety of HR and payroll services that can assist with a smooth workflow such as: Global Employer Record Services Having a global employment of record partner for all your employee relations, payroll and HR matters simplifies the personable administrative flow of business, leading to increased employee happiness. Higher engagement starts here with our global employer record services. Immigration and visa services We need to relocate our workforce to manage your international expansion…

19Apr 2023 by Robley Baynes

Payroll Management

Payroll

When it comes to paying employees, the country’s laws made the payroll function a time-consuming nightmare for the small business owners.In Trinidad and Tobago statistical data has shown that small business owners spend an average of eight (8) hours a month performing payroll functions. That's twelve (12) full working days a year that could be spent generating Sales, Prospecting new business opportunities, Improving products or Services, or Servicing customers. WHAT IS PAYROLL?Payroll is usually defined as the total number of employees paid a salary through the company.WHAT IS PAYROLL MANAGEMENT? Payroll management refers to the administrative process of financial recording of an employees’ salaries, wages, deductions, bonuses, and net pay and may extend to other HR related obligations such as vacation, sick leave, casual leave etc.THE BENEFITS OF OUTSOURCING A PAYROLL…