To achieve optimal tax outcomes and meet its financial requirements, you must prepare for the tax season. The extent of preparation depends on the business. With careful planning and attention to detail, you can meet the deadlines and get through the tax season with confidence. These tips are for SMEs (Small and Medium sized Enterprises) […]
Category Archives: Tips & tricks
16
Nov
Nov
The Ghana Revenue Authority (GRA) taxpayer portal is a work in progress. GRA often adds or changes features of the portal without adequate education and information. You often get to know of the changes when using the portal. At SCG, we are heavy users of the taxpayer portal, so we learn from our experiences. To […]
10
Mar
Mar
A Tax Clearance Certificate (TCC) confirms a taxpayer has paid his taxes or has agreed on a payment plan with the Ghana Revenue Authority (GRA) at the date of application. To remove the hassle from getting a TCC, GRA has moved from issuing physical TCC to issuing Electronic Tax Clearance Certificates (E-TCC). You can now apply for and […]
06
Mar
Mar
After business registration, most companies are not aware of their duty to comply with tax and company law requirements and end up with problems of non-compliance. I deal with: Clients who want to register businesses but have little or no knowledge about compliance requirements. Clients who have registered businesses and do not know the compliance […]
03
Apr
Apr
From our audits, we find that many Ghanaian companies have poor internal controls especially with regards to their IT systems. Internal control is a means for getting a hold of your business. You risk surprises if you have poor controls. Good internal controls just don’t happen, they need a conducive environment. So, what can the […]
26
Jan
Jan
How will you make sure you get all the cash you receive? Controls over cash receipts are essential to prevent errors and theft. In this article we discuss arrangements you can use to make sure your get all your cash receipts. Your customers will make payments to you with cash, cheques, debit card and bank […]
03
Sep
Sep
Buying computers and software for small businesses that work is a nightmare for Ghanaian Businesses. Yet, if they want to be efficient and competitive, they can’t avoid computerizing. We know businesses that use Information Technology (IT) are more efficient, use fewer people, save money and capture data for analysis to better run the business. Nowadays, […]
10
Jul
Jul
I made a profit but where did the cash go? This is the surprised reaction when you make a profit but have no cash to show for it. You pay bills with cash and not profit. So, whilst you’ve made a profit, you may not pay your bills on time and your business struggles. Why […]
05
Apr
Apr
Petty cash, also known as petty cash fund, is a small amount of cash on hand that is used for paying small, everyday business expenses. Examples of petty cash use includes payment for postage, phone cards, and reimbursing travel expenses. The amount in a petty cash fund will vary by organization – how much is […]
