Weekly Finance Tips

Posts Tagged ‘Accountant’

Have a process for sending funds to the client.
Although many lawyers “know” that really should return the funds to the clients customers, very few actually get around to it. Failing to do this results in cumbersome books, and do not want this. What you need is a process for sending funds to the client – particularly when the check has not been cashed. You can not just close these accounts , if they declare controls without sitting there. Nor can simply keep the money. You need to show that you tried to return the funds more than once. Otherwise, the attorney must arrange to send funds to the Bar. They have a Benevolent Fund, and make the decision whether to go to charity, or if you can keep. If less than 50.00 then you can normally go to a charity of your choice eg The MS Society. But you can not do is send the customer an invoice. Some lawyers do, but it is wrong. Read the rest of this entry »

Accounts of lawyers “can be a minefield. The lawyers have enough on their plate without the additional stress of trying to remember and apply all the lawyers of Accounts Rules (SARS) that exist, so for this task, which may well trust their legal cashiers. In this article, we try to outline the top 7 tips that all lawyers should know what concerns the accounts legal.

Purchase invoices / counsel / expense receipts must be retained for VAT purposes.
No matter what the amount, the expenses must be supported with a receipt. If VAT inspection has taken place this information has to be produced.

Accounts money owed to the customer’s account – need a weekly report.
SARS states that the money in accounts of clients, on payment of the bills must be transferred within 14 days of receipt. If these are left for more than 14 days will be in violation of SARS. So the lawyers have to be on top of your books in order to ensure that relevant messages in a timely manner. Read the rest of this entry »

Most companies use the services of accounting to help your business run smoothly. Accountants can also analyze financial information to individual customers and the government and the companies . Many accountants also offer services beyond payroll, taxes and other financial record keeping including financial and investment planning, budget analysis, consulting, information technology, and sometimes even limited service law.

A CPA or certified public accountant performs a wide range of services accounting for many different entities. It can tax, audit and consulting activities for their clients which may include government, businesses large and small, nonprofit organizations, or persons. Some focus CPA in tax advice, such as advice from a company or individual on the fiscal benefits and costs of certain decisions and preparing individual income tax on income and business taxes. Read the rest of this entry »

Updated accounting system – companies outside service litation accounting to use the system of accounts newer than many companies require today. These new systems guarantee accurate, timely and reliable data for entrepreneurs.

Accounting outsourcing involves a system that is free of turnovers. Although many companies have their own accountants and auditors working for the company, which are embedded with methods that do not depend on who works it. Even if there are turnovers in contracting companies, representing the customer data will not be affected. Read the rest of this entry »

Most company employees fall into two categories:

In the-box thinker:

In the box thinkers are the death of the recommendations of audit of sound and profitable business solutions, because they see beyond the micro-view of what they are doing. When this type of thinker is doing the job, can not see outside their own box, therefore, are not visionary mind. By contrast, employees who are paid to do just one job and that job only. No recommendations important business out of this group of thinkers. Read the rest of this entry »

If you have been assigned an audit of an area that has never been audited and her supervisor asked how the audit , which would you rather meet?

1) “I have been planning the audit for several days, but I’m almost done with the planning phase and begin to interview the management and testing very soon. ”

or 2) “I started the audit , outlining some key areas to focus on, and after interviewing two different managers, I had the opportunity to obtain valuable information which helped me to identify high-risk areas that previously did disregard. Also, I see the likelihood of results of audit with the recommendations as a result. ” Read the rest of this entry »