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AS ACCOUNTING CONSULTANTS WE SPECIALIZE IN ACCOUNTING, TAX, SOLVING PROBLEMS, ENHANCING PROCESSES, EFFICIENCIES AND IMPROVING THE PROFITABILITY OF BUSINESSES; SMALL, MEDIUM & LARGE
Superior and complete service to the business owner. You are provided with professional reports, analysis and advice to help you manage and lead your business to great heights. You will never be left in the dark as we will keep you up to date as to the performance of your business as well as changes to legal aspects that will have an impact on your business. All our work is done to high ethical and professional standards, honestly.
SPEAK TO US IF YOU ANSWER no TO ANY OF THESE QUESTIONS:
Do you have access to someone who has been “around the block” and understand business, understand manufacturing, understand figures, understand systems? Do you get detailed monthly management reports from you accountant? Do you get an analysis and constructive advice on your business performance? Does your accountant act as you business partner with your needs at the forefront? Are you sure all your statutory returns (tax and other) are up to date? Do you know if you have too much capital tied up in working capital? Are you sure you comply with all applicable laws and are you kept informed? Do you a have consultant or business partner who helps you improve and grow your business?
Business owners spend lots of time and resources in and on their business. For many it’s building a business that will hopefully one day be worth a lot of money. Importantly you have to make sure you build something that can be sold. And ensure you have books/records that will reflect the value of the business as you will have to provide evidence to a prospective buyer.
Ask yourself some questions; where is the real value in my business? What differentiates my business from one that might just set up shop next door? What do I offer that’s better/different to my opposition? Today business operates in a global and local market. Competitive pricing and different quality products & services can be sourced with the click of the mouse. Sole supply of a product or service will not last forever.
What is the asset of my business, that asset that makes it valuable and sellable?
Make sure you know what it is and look after it, nurture it, protect it, work at it. Is it the plant and machinery in the factory? Maintain it. Is it your customers or customer database? How much time do you spend looking after them? Is it a unique product? Patent it. Is it the location of your business? Tie it into a lease or buy the property. Is it your intellectual property? Write it down in a detailed manual/book and keep up to date.
So one can go on, each successful business has an “asset” that makes the business valuable. Make sure you know what it is and then LOOK after it.
SYNC Business Services provides professional consulting, accounting and tax services to business owners. We can assist you with looking after you valuable asset. . New PAYE rules: With effect from the 2011 tax year, all employers will have to submit bi-annual pay-as-you-earn (Paye) reconciliations, with new disclosure requirements. The first reconciliation is expected to be due in August 2010, and the second will be due at the end of May 2011. The new IRP5/IT3(a) disclosure requirements will affect most industries, and will initially place a significant compliance and administrative burden on employers.
Employers will need to disclose the following information on every employees' IRP5/IT3(a) certificate, irrespective of income bracket or type of employment:
* income tax reference number
* banking details
* residential address
* and identity number.
The new disclosure requirement is one of the immediate issues that employers need to deal with as they may not have this information readily available at present. This will be particularly so where the employer uses casual labour, part-time staff or contractors on a regular basis.
Where employees are not registered for income tax purposes and hence do not have a tax reference number, SARS plans to introduce an online registration process so that employers can register these workers. Thus, all workers will have to register for tax in future.
SYNC Business Services provides professional consulting, accounting and tax services to business owners. We can assist you with complying with the new rules. PRESSURE ON PERFORMANCE
Research done by an international consulting company indicated a steady decline in return on assets by companies in the USA over the past four decades to a quarter of what it was in the sixties. The key message is that performance pressures will continue to increase well beyond the current downturn. As a result, business leaders must be ruthless about deciding which assets, operations, and practices have the greatest potential to generate long-term profitable growth and shed those that do not. They must continually return to the most basic question of all: “What business are we really in?”
One of the aspects business is now faced with is making structural cost reduction changes. Many companies rely heavily on “quick fixes” but there is strong evidence that many “quick fixes” are not sustainable.
The focus for companies should be on liquidity, costs, target growth and talent, but always be relevant.
To quote from the book “Funky Business Forever” by Jonas Riddersråle & Kjell Nordström:
“Being great is no longer good enough. Customer satisfaction is not enough. To succeed we have to surprise people. We have to attract and addict them. Attraction and attention is all.”
