Vamily Accounting

Keep a finger on the pulse of YOUR business. If you have a small business take some time and answer these questions for yourself, because it is important to keep in contact with your business financial affairs.

Thinking of starting a business?  Think about these questions!

1. Do you keep your personal-affairs separate from your business affairs?

2. Do you have a separate bank account for each business?

3. Do you know how much inventory you have on hand?

4. Does your bookkeeping system meet the needs of your accountant?

(It will cost you less if it did!)

5. Do you have someone to do your day-to-day bookkeeping?

6. Are your records up-to-date?

7. Does your daily cash sheet usually balance?

8. Do you reconcile your bank account at least once a month?

9. Do you know how much money you owe (creditors)?

10. Do you know how much money is owed to you (debtors)?

11. Do you keep a file of all invoices and bills that are paid?

12. Does your payroll system work well?

13. Are your accounting system computerised?

14. Do you know the strengths and weaknesses of your employees?

15. Are you remitting payroll deductions to SARS on time?

16. Do you keep a copy of all your customer sales invoices?