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06 Jun 25

Income Tax Deductions for E-Commerce Businesses in South Africa

The South African e-commerce sector is growing rapidly, bringing numerous opportunities—and complexities. As an e-commerce business owner, understanding tax deductions can help you minimize tax liabilities and keep more of your hard-earned income, fueling growth. 1. Cost of Goods Sold (COGS) Cost of goods sold (COGS) is one of the…

27 May 25

Financial Regulations, Compliance, and Internal Controls for Medical Practices

As a medical practitioner, if you are running your own medical practice, you will need to have a firm understanding of the compliance and internal control requirements to run your business. Without a doubt – you will need to appoint someone with accounting expertise – either a firm or a…

21 Jan 25

Best Practice Management Software for Medical Professionals in South Africa

Starting your own private practice is an exciting milestone, but it comes with unique challenges. As a healthcare professional, your focus is on patient care—but running a successful practice also requires managing operations effectively. One of the most critical tools for this is practice management and billing software, which serves…

16 Nov 24

Financial Record-Keeping and Reporting for Medical Practitioners in South Africa

Effective financial management is essential for running a medical practice smoothly and ensuring its long-term sustainability. For medical practitioners in South Africa, financial record-keeping and reporting are especially critical due to the complex regulatory and compliance requirements in the healthcare industry. 1. Organized Record-Keeping System The foundation of any solid…

16 Nov 24

Financial Planning for Medical Practitioners in South Africa: Cash Flow Management and Budgeting

While the primary reason for setting up your practice is patient care, managing the financial aspects of a medical practice is equally vital to ensure the long term viability of your practice. You need strong administrative skills, financial management, as well as systems and processes to run it successfully. Cash…

25 May 24

Understanding XBRL Reporting for South African Businesses

What is XBRL? XBRL stands for eXtensible Business Reporting Language. It is a technology standard for the electronic communication of business and financial data, increasingly adopted worldwide. XBRL offers significant benefits in the preparation, analysis, and communication of business information. It ensures cost savings, greater efficiency, and improved accuracy and…

24 May 24

Navigating IFRS 3 – Practical Strategies for Accounting in Business Combinations

Business combinations are integral to corporate growth strategies, enabling companies to expand their operations, diversify their portfolios, and increase market share. In the realm of financial reporting, adhering to International Financial Reporting Standards (IFRS) 3 is essential for accurately accounting for these transactions. Core Principles of IFRS 3 At the…

19 Mar 24

The Vital Role of Accountants in Business Growth

There exists a silent force largely responsible for driving the wheels of growth and prosperity in businesses that achieve massive success in South Africa — ACCOUNTANTS. These financial experts play a pivotal role in the success of businesses across various sectors, serving as trusted advisors, strategic planners, and guardians of…

26 Oct 23

Things Medical Practices Should Expect From Their Accountants

As a medical practitioner managing a private practice, entrusting your financial well-being to a trusted accountant is paramount. Your financial objectives may range from optimizing tax planning and reducing administrative burdens to personal financial planning. In this article, we’ll delve into what medical practices should expect from their accountants to…

25 Oct 23

Accounting and Billing Software for Your Medical Practice

My name is Constance Kawelenga and I am a registered Chartered Accountant and Auditor, and today we’re going to talk about your accounting and billing systems. The Significance of Billing Systems Your billing system should serve as an essential tool in managing your practice’s finances. It should provide you with…