Hello all
Please find below, our newsletter for this period.
Taxation
The 2015 tax season is now in full swing and all taxpayers are reminded to send in their tax documents to enable seamless filing of tax returns. Jaqueline, our tax accountant is hard at work preparing and filing your returns. Thank you for the quick responses we are receiving to Jacqueline’s request for supporting documents.
We attach a recent article on what being tax compliant means and the strides SARS has made into identifying those taxpayers which they believe require the dreaded audit.
Estate planning – read our article on the importance of planning for your death – the tax implications can be crippling on your descendants. If you require some guidance in this, contact us and we will ensure our specialist will make an appointment to meet with you.
Credit Management
We reiterate the process of credit management within the Group, and as you are now all aware, we are busy with the implementation of our credit collection process to speed up payment of outstanding monies. No business can sustain itself if its cash flows are under pressure, thus the need for our initiative – Melanie has been phoning and we appreciate your response to her calls…….please accept that this is a normal but important business activity.
Our policy in this regard is to be quite firm about receiving payments when they are due (normally 7 days from date of invoice).
Accounting
Inventory management – inventory in many industries is a large component of the Balance Sheet (new terminology for the Balance Sheet by the way, is “Statement of Financial Positon”).
In our training we share the importance of converting sales into profits and profits into cash – and these industries which carry inventory, a significant aspect of converting sale into profits and then cash, is the efficient management of inventory. Read the attached document on how to manage inventory effectively.
Regards
Gavin Beretta
September 2015