Moving to cloud-based technology for your business? Here’s why you should be excited
Many Ghanainan SME business owners and finance people I speak to about moving accounting to cloud-based technology are often apprehensive about the change. They are particularly concerned about security and cite that as a reason not to consider cloud options. Many others are not aware…
Will your loan benefit attract a tax? Beware, the rules have changed!
It’s common for employers in Ghana to give loans to their employees at rates far lower than those of the banks and financial institutions. Prior to 1st January 2016, the benefits inherent in such loan benefits were not taxed. This situation changed with the passage…
Move with the times, or face losing your business
I work in Ridge Tower, in the financial district of Accra, Ghana. Ridge Tower is a high-rise building housing a bank, a leading property management company and some departments of the Social Security and National Insurance Trust. Around my office, you will find more high-rise…
Take it from me, poor accounting is expensive!
I’m not talking hypothetically when I say poor accounting is expensive. Nor am I talking as an accountant with a vested interest in selling you my expertise. I’m talking as a business owner who, with the best of intentions, ended up with poor accounting for…
Surviving A Ghana Revenue Authority (GRA) Tax Audit
Every so often, the Ghana Revenue Authority (GRA) may conduct an audit of a taxpayer. And the typical reaction when a taxpayer gets a notice of an audit is anxiety, and sometimes fear. That is perfectly understandable. However, the best way to combat this is…
A Quick Guide to Employer & Employee Pension Obligations
Avoid penalties for non-compliance and safeguard your business by learning what you need to do under the National Pensions Act 2008. The Ghana Pensions Act 766 places obligations on both the employer and the employee of a business, however, the burden of compliance rests with…
Payroll challenges? Consider outsourcing
It shouldn’t come as a surprise that when you employ someone, you are obliged to pay them. And you would think that would be a relatively straightforward proposition, but it’s not. Immediately, you have an additional obligation to calculate, withhold and pay taxes and pension…
How to Identify and Avoid Phishing Scams
Stop your email account and passwords from being hijacked by a total stranger Chances are this has happened to you or someone you know before: You receive a strange email from a family member, friend, or colleague, and you realize that their email account has…
Do you know which business records to keep, and why?
Maintaining good records is essential for every business. And keeping those records is a legal requirement that, depending on your jurisdiction, you will be obliged to do for a specified period of time. But you shouldn’t just maintain records to meet legal requirements. Having accurate…
My SCG Story – Teni
My name is Teni Agana, a final year student of Ashesi University, majoring in business administration. I was an intern in the Client Advisory Service (CAS). I choose to work at SCG because I am aspiring to join the Accounting industry in the future and this…
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