Tag Archives: expenses

How to Manage Cash Flow with Accounts Receivables

Cash flow, the total amount of money moving in and out of your business, affects how much cash you have. If cash is moving out faster than its moving in, you may run short of cash and may have to raise funds through borrowing, sale of assets, or raising equity. For many businesses in Ghana, […]

Can You Deduct VAT on Entertainment Expenses?

No, you can’t deduct VAT on entertainment expenses. The general rule is, VAT registered businesses can offset the input tax on taxable supplies they buy. For types of VAT Supplies see https://georgekatakdev.wpengine.com/2019/04/08/value-added-tax-basics/ VAT on entertainment is an exception to the rule above – you cannot offset it against output taxes to work out the net […]

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 […]