Category Archives: Tips & tricks

Tax and Company Law Compliance for Startups

After business registration, most companies are not aware of their duty to comply with tax and company law requirements and end up with problems of non-compliance. I deal with: Clients who want to register businesses but have little or no knowledge about compliance requirements. Clients who have registered businesses and do not know the compliance […]

How to Create Conditions for Strong Controls in Your Business

From our audits, we find that many Ghanaian companies have poor internal controls especially with regards to their IT systems. Internal control is a means for getting a hold of your business. You risk surprises if you have poor controls. Good internal controls just don’t happen, they need a conducive environment. So, what can the […]

Controls Over Cash Receipts

How will you make sure you get all the cash you receive? Controls over cash receipts are essential to prevent errors and theft. In this article we discuss arrangements you can use to make sure your get all your cash receipts. Your customers will make payments to you with cash, cheques, debit card and bank […]

Buying Computers and Software? To Avoid a Lemon, Consider These Factors

Buying computers and software for small businesses that work is a nightmare for Ghanaian Businesses. Yet, if they want to be efficient and competitive, they can’t avoid computerizing. We know businesses that use Information Technology (IT) are more efficient, use fewer people, save money and capture data for analysis to better run the business. Nowadays, […]

I MADE A PROFIT BUT WHERE DID THE CASH GO?

I made a profit but where did the cash go? This is the surprised reaction when you make a profit but have no cash to show for it. You pay bills with cash and not profit. So, whilst you’ve made a profit, you may not pay your bills on time and your business struggles. Why […]

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 cash fund will vary by organization – how much is […]