7 Simple Steps To Improve Control Over Petty Cash
Petty cash, also known as petty cash fund, is a small amount of cash on hand that is used for paying small, everyday business expenses. Examples of petty cash use includes payment for postage, phone cards, and reimbursing travel expenses. The amount in a petty…
Written Employment Contracts Are There To Protect You. Use Them!
When you hire a new employee, it is good business practice to offer them a contract. A contract of employment can be verbal, or it can be written. Where most small businesses run into trouble is in their reliance on verbal agreements, opting not to…
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…
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…
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…
Our Journey to A from B, and Beyond
Each year, the Institute of Chartered Accountants Ghana (ICAG) classifies and ranks public accounting firms across the country into six categories: A1, A, B1, B, C, and D, with A1 being the highest classification available. In doing so, ICAG considers revenue, number of partners, and…
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