• accounting news (4)

At Fenns, we keep up with the latest developments in the accounting world, and now you can too. Stay informed with our monthly blog posts and newsletters, featuring insights, updates, and industry news.

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Load shedding

Loadshedding: Survival Tips for Small Businesses

While all businesses are unique and will have to develop their own individual plans for coping with loadshedding in the long term, we have put together a few tips that can be generally applied by small businesses to try and take some of the sting from the daily blackouts. Here are our five top suggestions for surviving loadshedding as a small business.
travel deductions
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Maximise Your Business Travel Tax Deduction

Expenses related to business travel can be deducted from taxable income – but only if a logbook that complies with SARS requirements is kept current for each vehicle and stored as per the regulations. There are also several other tax implications relating to travel expenses, travel allowances and reimbursements for business travel.
Reviews

Ignoring an Online Review Could be Catastrophic for Your Business!

Why does it appear as though so many companies simply neglect their online reviews? The truth is that ignoring these reviews could be catastrophically damaging to your business and how you deal with them could be the difference between success and failure. So, what should you do with an online review?
Office for Your Business
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How to Know if You Need an Office for Your Business (and How to Make the Most of a Lease if You Do)

Depending on the nature of your work, collaboration may be an important aspect to your success, or perhaps workflows demand the kind of input that simply isn't available remotely or maybe there is a marketing benefit to you maintaining a noticeable space?
Tax Compliance Status

The Importance of Maintaining Your Tax Compliance Status in 2023

Here's what SARS requires to produce proof of your Tax Compliance Status (TCS) with a TCS PIN, and why it is so important to maintain it all year round – all of which highlights the need for professional assistance to ensure your company gets all the benefits that come from ongoing compliance.
Steps to success
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The Financial Steps You Need to Take Before You Open Your New Business

When starting a business, it's easy to get carried away in the excitement, but like with anything those who plan first are far more likely to succeed. Whereas you may already know where you are sourcing your raw products, or who your first clients will be, it is distinctly possible that other aspects have slipped under the radar.
fresh start
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Start 2023 Strong with the “Fresh Start Effect”

“Use the right tool for the job” is common-sense advice that applies particularly well to business owners and managers at the start of a new year, which presents an opportune time to evaluate the previous year’s performance, to set targets and objectives for the next 12 months and begin implementing and monitoring improvements and changes.
3

What is the Metaverse and How Will It Impact Your Business?

The Metaverse is a hot topic around the world at the moment and it’s set to change the way we do business, yet many business leaders simply assume it has something to do with Facebook and are neglecting the opportunities that are presenting themselves with this new 3D internet.
2
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Simple Communication Tips to Boost Your Profitability

Ironing out communication errors could see your team boost their capacity, meet their deadlines more often and ultimately lead to a more effective and profitable business.
1
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The Why and the How of Annual Price Increases

Businesses, particularly smaller ones, often neglect to implement annual increases in their prices, rates or fees: some due to poor management; many in fear of losing clients in a competitive market (as was particularly evident during COVID), and most simply due to a lack of know-how.
fraud
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Don’t Let Fraud Infect and Damage Your Company

Fortunately, it is possible to detect fraud. The right checks, balances and behaviours can find the culprits early and perhaps even prevent it entirely, but it's not a thing that can be left to trust or other people. Business owners need to implement changes as early as possible and make them a part of company culture if they want to avoid becoming the next victims.
surprised 2

SARS Can Take Money from Your Account! Here’s How to Prevent It…

The ability to collect money owed by taxpayers from third parties (banks for example) who hold money for them is just one of SARS’ wide powers when it comes to the collection of outstanding tax debts. In this article, we find out how such a tax debt can arise, when SARS can take money from your bank account, and how to prevent it from happening.
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