When steering the course of a business, a pivotal decision arises in choosing the accounting method that will shape the financial records. Within the array of bookkeeping methods, we’ll be focusing mainly on the wholesale price method in branch accounting, and how it is important for wholesalers. Nestled among these methods is the branch accounting…
DetailsInventory management software is not a want, but a need of distributors, retailers, and wholesalers. This is especially true for large warehouses storing items in bulk. And of course, even for small-time retailers, inventory management software can be useful. In this article, we will cover all the pain points faced by wholesalers and distributors and…
DetailsSouth Africa has a Value-Added-Tax (VAT) regime, which is set at a fixed rate of 15%, which can be added and subtracted to any bill, invoice, PO, etc., while a taxable transaction takes place. In this article, we will cover what South Africa VAT is, and how you can calculate VAT in South Africa. …
DetailsIn the dynamic realm of consumer finance, the significance of a retail credit facility cannot be overstated. Serving as the financial backbone of our purchasing power, this specialized credit mechanism facilitates seamless transactions that bridge the gap between desire and possession. In this article, we’ll dive into the nuances of a retail credit facility and…
DetailsThe Black tax in South Africa is essentially the financial burden carried by successful Black individuals who support less affluent family members. It involves transferring money from middle-class or prosperous Black individuals to relatives facing financial difficulties. This term not only encompasses financial transactions but also highlights the challenges faced by the well-off family member.…
DetailsWhen you officially register a business, you’re essentially documenting its name, purpose, and other crucial details. This process comes with some neat perks, such as establishing a strong identity for your business and boosting its credibility. Moreover, it safeguards your innovative ideas and ensures a clear separation between your personal and business responsibilities. In this…
DetailsIn the retail game, keeping track of inventory is key. It’s all about having the stuff people want, when they want it, and at a good price. Retailers use fancy tech, number crunching, and savvy employees to make sure they’ve got the perfect mix of products to meet demand without going broke on storing too…
DetailsEmbarking on a journey through Kenya’s taxation, one encounters a crucial element: Kenya withholding tax. It’s a silent force impacting businesses and individuals. In this discourse, we’ll dissect withholding tax, unraveling its purpose and consequences. We’ll explore its varied forms and its profound role in Kenya’s economic dynamics. This article delves into fundamental Kenya withholding…
DetailsValue-added tax is one of the most popular forms of government taxes in the world. South Africa VAT is something similar. Apart from the several types of corporate and small business taxes that South African businesses have to pay, South Africa VAT is common to all. This commonality includes paying customers as well, as South…
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