• 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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credit
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Business Loan or a Credit Facility – Which Is Right for Your Business?

The long hours are starting to pay off and your small business is beginning to take shape. You know with a few small changes you will be able to launch the company to where it needs to be, but the problem is these small changes take money.
selling
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Selling Your Business – Plan Well, with a Tax Benefit When You Retire

There are many reasons why a business owner may decide to sell a business built up with great effort over time: perhaps to start another business or pursue a different opportunity; maybe for health reasons, to relocate or retire; or as part of a succession plan or exit strategy.
gig economy

How The Gig Economy Is Changing Traditional Businesses

The challenges posed by the new working system and demands from younger generations are not all immediately obvious either, and the ripple effect is going to affect way more than simple work hours and hiring policies. Here's what business managers and owners need to know.
disabilty
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Are You Claiming Your Full Tax Relief for Disability-Related Medical Expenses?

Among the most useful tax rebates in this regard is the medical expense credit, and it applies to a broad selection of taxpayers. While many taxpayers do claim the medical scheme fees tax credit (MTC), very few know how to claim the additional medical expenses tax credit (AMTC) for qualifying medical expenses, including those related to a disability or physical impairment.
key metrics
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9 Key Metrics Every Business Should Track

Metrics allow businesses to track the growth and performance of various aspects of the business, enabling owners and managers to monitor a company's progress toward its goals, identify and manage proactively potential problems, and make well-informed intelligent decisions.
pricing module

Is Your Pricing Model Killing Your Business?

Sometimes in business you can see the end coming from a mile away. Losing your biggest client, conceding market share to a new competitor, or having your product become obsolete are all obvious signs that tough times are on the way. Some killing blows are a lot harder to detect. Perhaps one of the least noticed and most difficult to see coming, even if you are looking for it, is death by your pricing model and it's easy to understand why.
bad customers
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How To Avoid Bad Customers

What qualities would your perfect customer have? On the surface this is a casual question, but a little examination shows it to be one of the most important ones any small business leader will have to answer. The traditional view of customers would hold that anyone you can attract to interact with your company and buy products or services is the ideal customer – the world is your potential client, and you should act accordingly. But what if that wasn't true?
load shedding
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Loadshedding: Tax Incentives for Energy Efficiency and Alternative Power

With the challenges of Stage 6 loadshedding still fresh in our memory, government’s multiple measures to address this national crisis, announced just a month ago by President Cyril Ramaphosa, confirm that there is no quick short-term solution for Eskom’s woes, leaving us responsible for proactively securing our own alternative energy solutions.
workmans

Are You Ready for a COIDA Employer Site Visit and Audit?

If you operate a business with one or more employees, and/or if you are a domestic employer, you are required by the Compensation for Occupational Injuries and Diseases Act (COIDA) to register with the Compensation Fund, to keep certain records, and to pay a tariff based on annual earnings. These are not new requirements but, just recently, the Compensation Fund issued a notice to employers – including domestic employers - to expect employer engagements, site visits and audits.
recession
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Recession on the Horizon: Here’s How to Survive

It's no secret that economies around the world are struggling. Increased inflation, booming petrol prices and erratic stock markets are everywhere, and South Africa is not immune. Recently an economist at Oxford Economics Africa, Jee-A van der Linde, was quoted in the daily Maverick speaking about South Africa specifically. With recession a distinct possibility in the near future, tough times are doubtless ahead for many businesses and avoiding closure is going to become a priority.
trust
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Is Your Trust Registered and Ready for Income Tax?

In this article, we look at why trusts are used by business owners, how trusts are taxed, how the tax return for a trust must be completed and submitted, and why assistance from an accounting and tax practitioner is essential to avoid the many potential pitfalls, as well as the penalties and interest that will be levied for late returns, late payments, and non-compliance.
accounting software

Choosing Accounting Software for Your Small Business

When it comes to managing a small business, no tool will be as important as your accounting software. Accounting software allows entrepreneurs to track accounts receivable and accounts payable, have a clear understanding of their profitability, and be prepared for tax season, all of which are essential for keeping cash flows intact and fulfilling obligations.
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