Friday, February 15, 2013

Tips on Handling Cash in your Business

Dwarf Sunflower

Only 2 tips, but very important tips for any small business:

1. Keep Receipts For All Transactions From The First Day Onward:  If you pay for everything with a check, debit card, or credit card this may not seem necessary. I can assure you that it is. SARS will disallow deductions if you do not have receipts to accompany your bank and credit card records.

2. Avoid Cash in Buying Stock or Paying for Services:  The easiest way to get into hot water with SARS is to pay for things with cash and then not have a receipt. For many of us we are in a habit of using cash from the time we were kids. For your own business though, you need to avoid cash.

 

Beautiful Farm For Sale Near Nigel

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