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Showing posts from April, 2017

HOW CLOUD ACCOUNTING SOFTWARE MAKES " INVISIBLE ADMIN" A REALITY

How cloud accounting software makes “invisible admin” a reality
By Magnus Nmonwu, Regional Director for Sage in West Africa
If you are like most business builders, you probably do not enjoy doing bookkeeping or working on your taxation administrative tasks. You would rather focus on what you do best – growing the company, bringing out new services and interacting with customers and employees. Even if you run a one-man business, an accounting solution can help you streamline all the paperwork and other number crunching or time-consuming activities, so you can focus on the important stuff.
There are many other benefits – from generating financial reports to complying with Federal and State internal services’ requirements. It is no longer expensive to acquire these tools or solutions, thanks to cloud-based accounting packages that offer a small monthly subscription fee to get you going.
Here are five questions to ask yourself if you have not yet invested in these accounting solutions:
1.     …

THE BENEFITS OF INVESTING LEGALLY LICENSED SOFTWARE OUTWEIGH THE COSTS FOR AFRICAN BUSINESSES

Some Small & Medium Businesses in West Africa try to cut corners and save money by pirating business software. This is a shortsighted approach, since legitimate software licences yield powerful return on investment (ROI) and allow organisations to eliminate the heavy costs and risks associated with pirated software.
That’s according to, Magnus Nmonwu, Regional Director for Sage in West Africa, who says that any discussion about pirated software should not only focus on the dangers of piracy but also on the many advantages of going legit. “Today, software is more affordable than ever, thanks to flexible volume licensing agreements as well as cloud (online) software offerings,” he adds. “For example, you can buy software as an online service, paid per month and per user. That means you don’t need to spend a lot of money upfront to get access to the best technology. There really is no justification for not buying legal software licences for your business.”
Nmonwu outlines five benefits …

YOU NEED TO INTEGRATE YOUR BUSINESS SOLUTIONS. HERE'S WHY

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By Anton van Heerden, Executive Vice-President and Managing Director, Sage South & Southern Africa
Accounting, payroll & HR and payments are at the heart of any business. By integrating this golden triangle of business processes and systems, organisations can reduce manual administration and free up time to spend on more value-adding activities. With integrated solutions, businesses can achieve higher levels of automation across their businesses, become more productive and efficient, and gain better visibility into their performance. Here are a few benefits companies can achieve by implementing integrated business solutions.
1.Reduce redundant data capture
An integrated solution that brings payment, payroll and accounting functionality together eliminates the need to recapture or manually import payroll data into the accounting system each month, and then reconcile financial data with bank statements. That can save hours of work each month for the accounting and payroll teams, whi…

FAQ – PAYROLL, HR SOFTWARE & EMPLOYEE SELF SERVICE

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Capabilities of Sage Payroll and HR solutions
Sage offers a range of modular yet fully integrated solutions for HR, Payroll, Time & Attendance, Recruitment and Employee Self-Service. For a full list of features and benefits please refer to the Products page of our website or request for a DEMO PRESENTATION
How quickly can Sage Payroll and HR be implemented?
A typical Sage Payroll and HR installation can take anything from one (1) to six(6) months.  ‘Go Live’ is very dependent on a number of factors:
·The number of software modules purchased
·The implementation phases and the availability of resources from the vendor and the organization. User ownership has always been fundamental to the success of software implementation projects. It is therefore important that both parties provide sufficient resources to the project, and that these resources are available and knowledgeable.
·Number of parallel runs required to confirm user acceptance and confidence. Getting Payroll right in Ghana req…

THREE SIMPLE STEPS FOR CASH FLOW FORECASTING AND BUDGETING

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Cash is the lifeblood of every business, implying that if cash is flowing in the business, the business will keep on moving and growing. Once cash stops flowing, the business will begin to experience hemorrhage and die! Hence, it’s crucial to engage in cash flow forecasting and budgeting to always know the health of your business.
Cash flow is simply the movement of cash in and out of your business. And cash flow forecasting or budgeting is analyzing the cash flow movement and making future prediction based on that analysis. Cash flow forecast can be done via accounting systems or using Excel Spreadsheets.
Cash flow forecasting and budgeting, enables you predict the future inflows and outflows of your business so you can plan ahead for mishaps. Cash flow forecasting and budgeting insights can also enable you to maximize the use of money, control costs and avoid financial wastes.


There are three simple steps for cash flow forecasting and budgeting.
Step One: Estimating Cash Inflow
Cash infl…

THE DIFFERENCE BETWEEN CASH FLOW AND PROFIT

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Without controversy, the dream of every entrepreneur or CEO is to grow his or her business and make it profitable. However, not knowing the difference between cash flow and profit has rather caused many businesses to grow rapidly and then fail at the end.
Before you grow your business, you really have to understand the difference between cash flow and profit. Your cash flow statement is different from your profit & loss statement. Cash flow is the movement of cash in and out of the business as a result of operational, financial and investing activities. Profit, however, is the difference between your sales and expenses for a period.
Below are three ways a lack of knowledge by business owners on the difference between cash flow and profit can cause their rapidly growing business to fail?
First Way: Profitable Business but Bad Cash Flow
A business can be very profitable with growth possibilities but have a bad cash flow. A quote from income-outcome.com stated, “The vision starts the bus…

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