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Companies struggle with constant pressure to reduce costs and increase efficiencies all within a strict compliance framework.
We help businesses achieve their financial goals by ultimately saving them valuable time and money. We trust our advice articles are of value to you.
Notice from SARS: Termination of Tax Clearance Certificates
As of the 25th October 2019, the issuing of the printed Tax Clearance Certificate (TCC) will be terminated. This is due to SARS fully implementing a more secure and electronic Tax Compliance Status (TCS) system. Since the TCS system was implemented in 2015, SARS...
What’s the ‘Digital Transformation’ Deal with Small Businesses in South Africa?
Keeping up to date with the latest and relevant South African business news is important so this month we had a look at a report done by Xero which evaluates the state of small businesses in South Africa and considers 200 accountants and 400 small business owners. The...
Buying a Business in South Africa
The Global Entrepreneurship Monitor South Africa reported in 2016-2017 that the established business ownership rate in South Africa was only 2.5%. This means that, of the population aged between 18 -64 years old, only 2.5% own or manage their own business that has...
Business Registration and Implications Between a Sole Prop, Trust or Company.
Starting a business is both exciting and daunting. One of the first challenges budding entrepreneurs need to grapple is the type of business entity to go into. The close corporation was previously the most common business entity in South Africa for small and medium...
Building a Business you can Sell
Are you looking to boost your business? As entrepreneurs, we are generally a very curious and innovative bunch, always on the lookout to innovate and improve how the world works. Yet it is believed that entrepreneurs invest too much time in developing and not enough...
Understanding the importance of Employee Talent Management to improve Customer Experience
Talent management is not just another simple category that falls along the human resource spectrum. It is also an important tool that is used to hire, manage, develop and retain the most talented and exceeding employees in the company. Many companies have a business...
Xero Applications that assist SME’s
Last month we looked at the Future of SME’s in South Africa. In this blog, we explore the benefits of taking your small business digital by managing, collating and submitting information using cloud technology. Xero is a cloud-based accounting software that connects...
Value Added Tax (VAT) – What you Need to Know
Do you remember before the year 1991 when South Africa used the indirect taxation system, called General Sales Tax (GST)? Since then, it became known as Value Added Tax (VAT) and went from a tax rate of 10% to 14% where it stayed for 25 years. VAT was increased to 15%...
The Future of SME’s in South Africa
Small and Medium Enterprises (SME’s) have been identified as productive drivers of economic growth and development in South Africa. This is because, aside from contributing to the economy, they encourage diversification and innovation by bringing light to new,...
How we can Assist you in Business
DIGA is a Bookkeeping and Accounting outsourcing team that aims to resolve your business challenges. We provide a trusted and reputable service to clients who see the value in utilising professional and efficient expertise for their vital business elements. Many...
What you need to know about Registering your Domestic Worker with UIF
Many South Africans employ domestic staff, but they often do not fulfil their formal obligations as employers. This includes having a proper employee contract in place, correctly recording annual and sick leave and making the relevant contribution to the Unemployment...
The Importance of Reviewing Monthly costs and Retainer agreements
Most businesses are aware of the importance of keeping track of finances and spending habits, but many battle to implement and record them accurately. This is because it often seems like an overwhelming or tedious task but in the end, it’s always worth it. Tracking...
Succession in Family Owned Businesses
When it comes to selecting the next CEO in a company, it is critical to find the right fit. This is one of the most significant decisions to make in an organisation’s life and in the case of a family-owned business, the ‘fit’ factor can be more consequential. This is...
Are all your CIPC records up to date?
It is a sad reality that many business owners are unaware of their obligation to keep their CIPC records up to date. Consequently, deregistration may come as a nasty shock – especially when you are proudly sitting with your hard earned company documents. Fortunately,...
The importance of employee performance management policies
Your workforce is the lifeblood of your company. But creating a good work environment involves more than putting a pool table or a 'relaxation zone' in the office. It involves helping your staff develop both as individuals and as part of your team. This is where the...
Benefits Of Outsourcing Your Payroll Processing
Are you still managing your payroll in-house? Do you believe doing everything yourself gives you greater control and oversight? If so, I am here to tell you the inability to relinquish control - and the failure to outsource tasks - is a bad business decision...
The Cloud
Our CEO; Ryan Coates was interviewed on 98.6FM shedding some light on the cloud and benefits to business transitioning to cloud accounting.
EMP501 Reconciliations
Do you, like most hard-pressed business owners, find your biannual EMP501 reconciliation a daunting and anxiety-inducing ordeal? If so, you’ve come to the right place. At Diga, we know these processes – and the constantly changing regulations and requirements - very...
KPI Reporting
Numbers are my thing. Data is my thing. Hence, the reason I started my business, Diga – a digital accounting business. I understand the importance of data, how it can change your business and I understand how reporting is key for any kind of business growth. But I am...
Provisional Tax
Provisional tax is a method of paying the income tax liability in advance so that you don’t have a large tax debt come tax assessment. This means that the tax liability is spread over the year of assessment and where you are required to pay at least two amounts...
Submitting your Personal Income Tax
As I am sure you are aware, it is tax season. You have from now until 31 October to submit your tax return. While we would recommend you use one of our highly capable Diga consultants, we would like to explain how to submit your own Personal Income Tax should...
Tax Filing Season Date Amendments
On the 4th June 2018, a statement was released by Acting Commissioner, Mark Kingon, around the upcoming 2018 tax season. Using data from the last two years, and with the main objective to make the filing of tax returns simpler and more efficient, the decision was made...
Easily Track Time And Costs On Every Job Using Xero
As a small business owner, you KNOW the importance of tracking time and costs on every job. You are likely very aware that time is money - and that every day counts. It was precisely with this in mind - that profitability and time is the linchpin of your business -...
Managing My Receipts and Supplier Invoices Using Receipt Bank
Does running your own small business involve watching the pile of invoices that need entering grow higher while you desperately try to catch up - usually late at night or over weekends? Good news is you no longer need to sit for hours entering all those invoices and...
Estate Duty – Planning is Essential
Your estate consists of all your moveable and immovable property, including life insurance policies and payments from pension funds. Estate duty is payable on estates in excess of R3.5 million and charged at the rate of 20% on the first R30 million and at a rate of...
Capital Gains Tax And Me
Do you, like most small business owners, find navigating the complexities of Capital Gains Tax (CGT) an anxiety-inducing ordeal? If so, the good news is you don’t have to. We strongly advise you let professionals take care of your taxes so you can focus on what you do...
Using My Trust To Secure My Assets
Simply put, a trust allows you, as the founder, to transfer your personal or business assets to one or more trustees who then hold the assets for the benefit of the trust beneficiaries. Trusts are not only for the wealthy or successful, they are worth considering at...
When Do I Register For VAT?
As a small business owner you are most likely very aware of paying VAT on the stock you buy and the services you use. Are you considering becoming a VAT vendor to claim it back? The decision of when to register for VAT can be a tricky one for new small businesses. The...
How Do I Go About Registering a Company
Registering a business can be a daunting and painful exercise. We have tried to make it easier for you by detailing step by step how you go about the process. However, if it still proves to be a tedious task, Diga can assist you from beginning to end! You will need:...
Reasons why business process automation is possible for small business
Automation is often seen as a tool only large corporations make use of. Small business owners tend to believe that a more hands-on approach to managing their business processes is simpler. And while it might be simpler, it is neither more effective nor productive....
Cash Flow Management when Taxes are Due
It is an unfortunate fact that many small business owners have no idea what taxes they will owe SARS until it is time to pay them. Daily transaction allocations are critical to enable this, something which we at Diga pride ourselves in achieving for our clients. Come...
Bookkeeping for Consultants
Consultants…This is for you!! It is a common misconception of consultants and contractors to think that they can do everything when it comes to their business. Your biggest mistake as a consultant is trying to juggle too many things at the same time. Even though you...
Budgeting and Forecasting
‘Budgeting and forecasting’ is a term that can induce panic and a lot of confusion, especially for a small business owner. But setting up budgets and forecasts for the upcoming financial year is something every business needs to put into place. Simply put, your budget...
10 Reasons A Franchisor Should Move to Xero
Here are the top 10 reasons a franchisor should move to Xero: Dashboard gives a clear financial overview – instant clarity Visibility across your whole network – anytime, anywhere for peace of mind Compare apples with apples across your network with standard chart...
How artificial intelligence and machine learning will transform accounting
As Xero CEO Rod Drury recently said, “Every small business, accountant and bookkeeper now has a supercomputer working for them.” So how did we get to this undeniably exciting, and perhaps even mildly scary, point in time – and what does it mean for accounting? While...
Digitize or Die?
Does your business need to be digital? Yes it does. Don't take our word for it ... check McKinsey Digital Labs out: McKinsey Digital Labs What 3 things do you think you can do to deliver your organization's full digital potential? Here is a list to consider: Talk to...
Your Most Valuable Customers
I have come to learn that your most critical customers are your most valuable. Not only do they give you an honest perspective on your current service levels but more importantly an opportunity to make right what you are getting wrong in your business. You should see...
Cash is King
Statement of Cash Flows is the key to understanding the health of your business For small businesses cash is king. Cash flow ensures that a business can pay its bills and staff, keeping the business operational. That’s why the Statement of Cash Flows report is so...
Is Your Business Digitally Aligned: Digital Alignment Design Principles
Is your business in digital alignment? What would be your top 2 digital alignment design principles? Our Top 4 Digital Alignment Design Principles Be simple, easy to engage with, and guiding. Design to empower the customer and instill confidence. Facilitate iconic...
The Simplest of Digital Engagements – yet so Alluring
Digital, cloud, applications, mobile change business. In particular, it changes INTERACTION and the MEANING we experience. This creates new value. Are you in the game of using digital and cloud to unlock these experiences? Try these two links to experience the power...
Relationships Are Critical
In this digital world it is all too easy to engage behind a laptop, iPhone or iPad. Easy to say things that we normally would not say in person and the problem is the interpretation on the other side may be skewed. Reading about these relationship principles in Robin...
Are You Checking Your Vitals?
When someone lands in the intensive care unit, the doctors and nurses are consistently checking the vital signs of the patient. Everything from blood pressure, pulse and oxygen levels to name a few are monitored closely for improvement or in the worst circumstances...
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