• 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.

E-Mail : office@fenns.co.za

FENNS BRANCHES

Johannesburg  – 010 880 3818
Cape Town  – 021 110 5180
Mossel Bay  – 044 695 0865 
George  – 044 695 0865
Mauritius  – +230 434 0210
 

credit score
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The Importance of a Good Credit Score

Business credit is one of the most important tools in any entrepreneur’s toolkit. Building a good credit reputation helps the business qualify for credit facilities such as business credit cards and loans, and can open up many other funding opportunities. Your business’ credit begins when you register your new company and is likely to become an important aspect of your success. So how can you build your credit score to ensure you have the best possible score when the time comes that you need it?
cashflow
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Top Ten Tips for Maintaining a Strong Cash Flow

Given the crucial importance of proactively managing the cash flow in your business – and the fact that it is one of the biggest challenges most business owners face - we share in this article ten top tips you can implement in your business immediately to maintain a positive cash flow and ensure adequate cash flow reserves are always available as the end of the year approaches.
delegation
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Learning The Essential Art of Delegation

Starting a business is often a lonely process. In the beginning you are doing it all, from registering the company to meeting with clients, putting together presentations and managing stock. As the company grows it then becomes necessary to start giving some of these tasks to other people to ensure everything can get done and it's at this stage that business owners need to learn the subtle art of letting go of full control.
tax debt
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Owe SARS a Tax Debt? Here Are Your Options…

There are many ways in which taxpayers can find themselves owing SARS a tax debt, and this is an issue that cannot be postponed or ignored – immediate action is required to prevent SARS from exercising their wide powers of debt collection. In this article, we look at how tax debts arise; how taxpayers are notified; what your options are when you don’t dispute the tax debt but can’t pay; and what must be done if you do want to dispute the tax debt.
keep your business simple
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Keep Your Business Simple!

Leaders may be surprised to discover that while finding new areas for growth can ultimately help a company it is not always the best solution. Beware of unnecessarily innovating, branching out and pushing boundaries which in turn can mean the obvious choices or otherwise smart decisions may be missed. Here are the reasons that keeping things simple, can be the best solution for your business
tax season deadline
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Tax Season 2022 Now Open: Beware, This Year’s Deadlines are Shorter!

Yet another tax season is upon us, and this year the D-dates are much closer than you think! With the submission deadlines for all taxpayers substantially earlier this year, taxpayers are well-advised to get started on their tax returns without delay, making sure there is sufficient time to address any potential issues that may arise.
reports wp
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Five Financial Reports for Informed Decision-Making

Informed business decision-making - from effective daily financial management to strategic future planning - requires specific, timely information that allows business owners to understand where the business stands financially at a certain time, what is happening over a period, and where action is required to improve financial performance.
crisis wp
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How to Prepare for and Manage a Business Crisis

Building your business has been hard, but right now it all seems to be working. You have dozens of clients and a history of good service and strong reviews. It may seem like it will be all smooth sailing from here, but this is almost certainly not the case. As the Covid-19 pandemic proved, a crisis can come out of nowhere and take a successful company to the very edge of bankruptcy or even close it down.
estate planning wp
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Estate Planning: Act Now to Protect Your Family and Business After You Are Gone

The legacy you would leave behind, if today turned out to be your last day, is detailed in your current estate plan and your will (“Last Will and Testament”) - quite possibly the most important document you will ever sign, because it is the only way to ensure those you care about are protected and properly looked after once you are gone.
tax laws (1)
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Companies: How Will the Reduced Tax Rate and Assessed Loss Rules Affect You?

New rules have been established around the treatment of corporate assessed losses, and these are already in effect, limiting the amount of previous assessed losses that can be offset against a company’s annual income tax liability in future financial years. The change follows the reduction in the corporate tax rate from 28% to 27%
move office (1)
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The 7 Signs It’s Time to Move Your Business Out of The Garage

Every business owner should have a plan for what they want to do when the business gets big enough, and have an eye out for the right time to enact that plan. But just when is that? How do you know that it's time for your burgeoning company to get its own space and how do you make sure that when you move it's definitely going to be something that benefits the company and yourself?
emp501
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The Simple Solution to Hassle-Free EMP501 Final Recons

Customarily due at the end of May each year, your EMP501 final reconciliation can be a challenge! The deadline is approaching for all employers. Fortunately, there is a simple solution to ensure a hassle-free EMP501 final recon. In this article we find out what the EMP501 achieves, the solution to a hassle-free EMP501 submission, what to do if you are running out of time, and what the penalties are.
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