Accounting Management

DEBIT and CREDIT always, always a plus and a minus in accounting, money in and money out

Something is always going up and something going down

Make sure what is registered in the Business name and what is registered in a  personal name. You are not allowed to claim personal expenses

If a car is registered in the business name you are allowed to claim the expenses on the vehicle, property, any fixed assists

Stock - Suppliers, Stocktake

Financials - Profit and loss, Ledger, Cashbooks, Recons

The whole idea is about money coming in, money going out to be able to see if I make a profit or loss in the company/practice

Money in - Patients (billing), renting income, Selling stock 

Financial Setup

Step 1 -  Ledger

Step 2 - Cashbooks

Corrections

3 Debtors 

- Meddebs / Diary

ERA's and receipts and journals 

Every day must be up to date

4 Creditors

- Suppliers

 - Financial creditors exam Telkom, GoodX

 - Must indicate that the supplier was paid

Every day must be up to date

Ledgers

5 Stock 

Every day must be up to date

6 Recon 

 - Bank - posting all the income and expenses important for the financials, can import

 - Petty cash (expenses paid every day, milk, sugar paid with cash)

- Aux Cashbooks

7. Reports

 - Trail Balance

 - Income statement