For content about sensitive topics like these, a more prominent label in the video player may also appear for added transparency. It was built to work on desktops, tablets, and smartphones, which means users can test their fixed or mobile speed on any device. A new South African speed test Read more…
By quickly identifying which invoices haven’t been paid yet, you can see how much money you’re waiting on. This can help you plan your monthly budget, see how much cash you can expect shortly, and assess how quickly you can expect a turnaround on invoicing and payment processing. They allow Read more…
You should register as a VAT vendor if you expect your turnover to exceed R 1 million in a 12-month period. As soon as your turnover hits R 1 million, you are required by law to become a VAT vendor. VAT returns can be tricky and time-consuming to do, so Read more…
As a reminder, assets and expenses are debit accounts whereas liabilities and revenues are credit accounts. One other type of account is the contra account and for accountants, this is a must-know. contra expense Some of the most common contra assets include accumulated depreciation, allowance for doubtful accounts, and reserve Read more…
Revenue accounts, like Sales Revenue, are closed by transferring their balances to the Income Summary account. This is done by debiting the revenue account and crediting the Income Summary, resetting the revenue accounts to zero. At the end of the accounting period, all revenue account balances must be closed out Read more…