Inventory 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…
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South Africa has a Value-Added Tax (VAT) regime, which is set at a fixed rate of 15%. VAT can be added and subtracted from any bill, invoice, PO, etc., while a taxable transaction takes place. In this article, we will cover what South African VAT is and how you can calculate VAT in South Africa.…
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In 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…
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The 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.…
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When 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. I’ve heard this question countless times from entrepreneurs looking to establish a presence in East Africa’s business hub. Kenya’s…
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In 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…
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Ever caught yourself reviewing a payment and wondering why the amount received is less than what was agreed? If you’re doing business in Kenya, chances are you’ve encountered withholding tax in action. As a business owner working with African entrepreneurs for over a decade, I’ve seen firsthand how withholding tax affects cash flow and financial…
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A Bill of supply is an invoice that is issued when no tax is to be charged on supplies made or where tax is charged but no ITC can be passed on to the recipient. Here in this article, we have explained in detail situations where this bill is to be issued, its contents, and…
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All businesses or organizations have two indispensable financial flows: Expenses and Revenue. The expenses part is what we refer to as accounts payable (AP). Let’s have a quick understanding of the mentioned terms. In simple words, revenue refers to the money coming in, and expenses refer to the money going out. The money coming in…
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