Payroll Software

payroll

How Payroll Helps Manage Your Employees And Business Efficiently 

When it comes to payroll, there are a lot of moving parts. It’s a lot of work, from ensuring employees are paid accurately and on time, managing tax payments and deductions, and filing reports with the government! 

This hassle explains why some employers dodge payroll in South Africa. Instead, they pay their employees “under the table.” 

Doing this is illegal and can come back to bite you down the road. Not to mention, it’s just not good business practice. 

This article will look at some tips for managing your payroll and employees effectively. By the end of this article, you will better understand how to run your payroll efficiently and avoid any costly mistakes. 

4 Tips For Managing Your Payroll And Employees Effectively 

Managing your business and payroll comes with a plethora of benefits, including: 

  • Compliance risk management: Business owners can be penalized for not adhering to employment standards and payroll regulations. By managing payroll, you can avoid these risks and penalties. 
  • Improved cash flow: Proper payroll management can enhance your business’s cash flow. It ensures that employees are paid on time and that you’re not overspending on your payroll budget. 
  • Increased efficiency: Payroll management can save you time and money by reducing the number of errors made, eliminating paper waste, and improving communication between employees and employers. 
  • Productivity management: Timely and accurate payroll ensures employees are paid correctly and on time, motivating them to perform at their best. 
  • Workforce planning: Knowing how much you need to pay your employees helps you make informed decisions about hiring, training, and retention. 

Below are a few payroll and employee management tips you should know: 

Create A Payroll Calendar 

The best way to be organized and efficient for payroll management is by having a calendar. A calendar will help you track deadlines, pay periods, and other essential payroll dates. 

You can ensure that you’re never late on a payment or miss a deadline by having a calendar. It saves you time and money in the long run. 

There are a few things you should keep in mind when creating your payroll calendar: 

  • The frequency of pay periods (weekly, bi-weekly, monthly) 
  • The start and end date of each pay period 
  • Payroll deadlines (such as when taxes are due) 
  • Holidays and vacation days 

When you consider these factors, you can create a payroll calendar that works best for you and your business. 

Allow HR Staff To Attend Payroll Training 

Your HR staff is the most crucial part of your payroll team. They are the ones who manage and handle all employee information. It is vital to allow them to attend payroll training. Training will ensure that they can do their job efficiently.  

This training will also allow them to learn about the different aspects of payroll and how to manage it properly. Additionally, they will also be able to learn about the latest technologies that can help make their job easier. 

Automate Your Payroll Process 

One of the most laborious and time-consuming aspects of payroll is data entry. Data entry is often done manually, leading to errors and delays. To avoid this, you should consider automating your payroll process. 

Several software programs can automate your payroll process. These programs will typically take care of everything for you. 

The software can help you save time and money while ensuring that your payroll process is accurate and efficient. 

Document Your Payroll Process 

Documenting your payroll process is a great way to ensure that your business runs smoothly and efficiently. 

Having all of your payroll information in one place lets you easily keep track of employee hours, vacation days, sick days, and more. 

Documenting your payroll process can help you develop a clear and concise set of instructions for new employees who may need to use the payroll system. You’ll save time and avoid frustration in the long run. 

Work Smarter, Not Harder – Try Quick Payroll Today! 

Payroll management can be a time-consuming and complex task, but it doesn’t have to be. Quick Payroll can help you automate your payroll process and save you time and money. 

At EasyBiz Technologies, we specialize in helping businesses streamline their operations with the right software. Our team of payroll experts can help you set up and customize Quick Payroll to suit your payroll and employee management needs. 

How payroll software can save your business time and money 

How payroll software can save your business time and money

A 2018 Zenefits article revealed that, at the time, 25% of business owners were still painstakingly doing their own payroll using pen and paper.

Sleepless nights and wasted time weigh heavy on the shoulders of the modern business owners trying to do it all themselves.

Making the shift from manual payroll processing to payroll software is guaranteed to benefit any business, saving time and money while greatly simplifying the business accounting process.

– What to consider when choosing payroll software

Keep reading to explore nine ways your business will save money, maximise productivity, and streamline end-to-end payroll activities with payroll software.

1. No accounting skills required

Traditionally, business owners have sought to outsource their company payroll functions to third-party providers, paying them for their time and expertise.

With payroll software solutions, business owners become their own payroll administrators – without needing any payroll skills to look after end-to-end company payroll.

2. Accurate calculations

Know a business owner still relying on their battery-powered calculator for payroll calculations?

Payroll software automatically manages all of it, taking care of things like overtime, deductions, commissions, pay raises, and other figures you’d otherwise have to spend time on.

3. Automatic tax deductions

Taxation: the only thing tougher to manage as a business owner than your own payroll. The reality is that there really isn’t any space for mistakes when it comes to managing tax responsibilities.

With payroll software, tax rates are all coded into the algorithm. The platform calculates and applies deductions automatically and instantly.

4. Automated salary slips

Employees often make use of payslips, when applying for credit or new employment. For this reason and others, many small business owners need to make payslips a priority from month to month.

Sending out payslips is another task payroll software can handle, automatically sending all company salary slips on a predetermined date and time.

5. Greater flexibility

When businesses thrive, they grow. Growing teams means growing payroll responsibilities, which often means a greater time commitment in order to manage the additional admin.

Payroll software platforms offer flexibility in scalability. Business owners can easily add new employees to payroll or broaden the scope of accounting functions they can make use of, with just a few clicks.

6. SARS compliance

Privacy of information legislation (POPI Act) and SARS requirements leave many business owners uneasy. Are they fully compliant and ready for an audit at any given time?

Adopting in-house payroll using powerful payroll software means continuous 100% compliance with SARS requirements, with private business and employee information remaining completely secure.

7. Customer support

Moving payroll functions from a manual process to a payroll software solution can be quite a daunting task when first making the transition.

The best payroll softwares are backed by support teams available to guide business owners through any struggles they may be facing.

Sources Consulted:

Human resources: payroll outsourcing 2019 | Statista

How Can Payroll Software Save You Time And Money

Why Aren’t You Outsourcing Your Payroll Yet? – Arcoro HR

Why Do So Many Small Businesses Use Pen and Paper for Payroll? – Workest (zenefits.com)

Payroll Software – What to Consider When Choosing for Your Business

Payroll Software – What to consider when choosing for your business

As your business grows, it becomes increasingly important to have the right tools to support and fuel your growth. Payroll software is a great example of this – it allows flexibility and creates efficiencies. For small to medium enterprises, in particular, you can never have enough of these two things!

But how do you go about picking the right payroll software? There are several options out there – and migrating between them could be disruptive. We’ve compiled a list of key things to look out for as you pick what’s right for your business.

Ease-of-Use

You shouldn’t have to be a developer or an accountant to figure out how to use the software. Payroll software is meant to make things easier for you – not harder! Its interface should be intuitive and easy to understand. Reading reviews online and in the relevant app stores can help you gauge how user-friendly an option is.

Local Support

There are times when you might need help with even the easiest to use software. When you do need to reach out for help, you’ll want to know that you can find the answer quickly. That might be through an FAQs section on a website, a community-based support section or a localised call centre. Local help is particularly handy when you want to be talked through the issue you’re facings step-by-step.

Compliant to New Legislature 

As you probably know, business legislature is constantly evolving. This means it’s important that your software evolves with it. Ideally, you’d like these updates to be automatic and free – so you can focus on your business. A good example of this is the POPI act and how your software handles employee data.

Consider Payroll Software Integrations 

Often, different business divisions have a favoured software to do their job. However, these preferences don’t always integrate well with other divisions. If you have existing HR software, for example, do some research into how well it integrates with payroll software. This can help narrow down the options you need to research.

Free Trials and Demos 

While it may seem obvious, getting hands-on with software before you make a purchase is preferable. Surprisingly, not all software has this option though. If you’re the kind of person that needs to see it and “kick the tyres”, then keep an eye out for trials and demos that let you get a feel for the software first.

This is just scratching the surface of what you should consider when picking payroll software. If you need to talk about payroll software and how it could improve your business’s efficiency – let’s talk

//Ends.

5 Small Business Benefits of Online Accounting Software

It’s easily argued that no one works harder than a small business owner. To streamline your administrative tasks, you need a comprehensive online accounting package.

While large corporations have an equally impressive finance department, entrepreneurs have only a handful of helpers, sometimes none. After dealing with customers, managing staff, and cleaning up after a long day, no one should have to spend hours on bookkeeping.

Benefits of Going Digital

Before you get worried about technology, let us reassure you that these online programs are all about accounting made easy. As a result, they’re designed to be understood by anyone and feature a user-friendly interface with clear setup instructions.

Of course, it takes practice to operate it like a pro. Fortunately, there is a long list of advantages to doing your books this way. Let’s take a look at the top five benefits that organisations of any kind can enjoy with this software:

1. Increased Productivity

Digital accounting solutions speed up your business processes and give you more time to focus on important tasks. They also keep your books up to date with minimal hassle, and de-clutter your office space by eliminating the need for reams of paperwork.

2. Reduced Monthly Expenses

When running a small business, time and money are your most precious commodities. Using online accounting software helps you save on both. Instead of outsourcing your bookkeeping, online accounting software enables you to do it all yourself.

You can take complete control over your finances.

    3. Improved Accuracy

Humans make mistakes. It’s an unavoidable fact of life. Sadly though, in the small business world, even tiny errors can spell large disasters. With accounting software, the chances of calculating incorrect totals are massively reduced. It’s also easier to check digital documents and instantly fix input mishaps.

    4. Security

Having valuable data on your company in the wrong hands can jeopardise all of your business efforts. Therefore, whether you own a large or small organisation, keeping sensitive information safe is crucial. Where better to store personal details and accounting records than in the cloud.

   5. Work Smarter, Not Harder

In this age of start-ups and entrepreneurs, you need to display service excellence and efficient customer care to every client you get. The easiest way to achieve this ideal faster and more consistently is with online accounting software. Other methods are sure to leave you exhausted, influencing either your business or personal life. Why choose between the two?

Buy Now

Online Tools to Help You Work Remotely

With business needs and technology evolving year after year, working remotely is becoming a necessity for most individuals and businesses.

However, sometimes working remotely isn’t as easy as it sounds. There is a lot that can go into it regardless of your industry. It takes discipline, determination, and quite a bit of help from technology. Here are some online tools to help you work remotely, effectively and efficiently.

1. Video and Conference Calling

Working from home can sometimes feel isolating. As humans, we need interaction with other people. It is important not to isolate yourself and have the ability to connect with people face to face.

It not only creates a community, but it also allows you to feel connected to your clients, team, and colleagues.

These are some ways of achieving this:

  • Schedule check-ins with your team. It helps you make sure that things are not falling through the cracks and gives you all quality time together.

  • Microsoft Teams, Skype, and Whatsapp are all good online options to consider.

2. Messaging Channels

Messaging channels are great to keep it feeling like an office environment. These are also great ways to contact your colleagues or team without the hassle of long threads and having a million emails to get through. Have a channel that is dedicated to non-work-related chat, this can be a channel whereby you have normal conversation and reconnect as a team and as people.

Some great messaging apps include:

  • Slack has a searchable history feature that allows users to easily find past chats and shared information in less time. This app will even let you share documents like PDFs, images, and videos.

  • Microsoft Teams is not only a great app for video and conference calling, it is also a great messaging platform, thought of as an alternative to Slack.

  • CloudApp is one of its kind – this is a visual communication platform that brings screen and webcam recording, GIF creation, and image annotation features securely to the cloud.

3. Project Management

Managing people and projects remotely can be a nightmare. But it doesn’t need to be. These apps will help you keep everything in tow.

  • Trello is a visual project management software. All your work happens on Boards. Boards are divided into lists, which represent different stages in a project and populated with cards. A Card represents a specific task and can contain due dates, chat boxes, attachments, and more.

  • Todoist is a smart to-do list app. Perfect for remote workers seeking simplicity.

4. File sharing

There is one app that does this perfectly and that is Dropbox. It is easy to use and is immensely popular and used by millions of people around the world.

All you need to do is upload your file to your Dropbox account and then share access to it with your colleagues. Easy!

5. Cloud-Based Accounting Software

Firstly, the cloud is a platform to access data and software online anytime from any device. This platform keeps data secured and up to date. How can this help you?

Quick Books Online is a cloud-based accounting software that allows multiple people to access and work on an account from a variety of devices, while your data is kept secured and up to date constantly.

These are some of the benefits you get with using QuickBooks Online:

  • Dashboards allow you to get a snapshot of your business. This includes Profit & Loss, Overdue Invoices, and Bank Balances in seconds.

  • Your data is secured with the same encryption technology used by the world’s leading banks. QuickBooks Online Security.

  • QuickBooks integrates with ABSA, FNB, Nedbank and Standard Bank to allow you to import your bank statements easily.

  • Know where your business stands and have ready access to 65+ reports in a single click. Get a clear view of the overall state of your business with the Company Snapshot.

  • Get enormous flexibility by customizing how your invoices and receipts look and what information they contain.

  • Handle multiple currencies and track currency gains and losses.

  • Give your employees access, while maintaining control over what information they can view or modify with multi-user collaboration.

  • Take your business with you anywhere, anytime and access QuickBooks Online on any Internet connected computer, tablet or phone using any operating system.

  • Free Mobile/Tablet App

  • Your accountant has free access to your financials

  • If you need help, free and unlimited support is just an email or phone call away.

Working remotely requires extra focus and tools to help you get work done fast and well. We hope that this blog has given you some advice on how to do just that.

Cloud accounting: Is it the best solution for my business?

As a business owner working remotely you have a lot to do, think about and plan for each day. The last thing you need is complicated systems that take up precious time.

For all businesses, small or large, your accounts and the software you use is very important – hence why it is always approached with trepidation. Using cloud accounting software, like QuickBooks Online, will get rid of that feeling and instead, give you a feeling of ease with its simplicity, accuracy, and accessibility.

What is a cloud-based accounting system and how is it different from a traditional on-site system?

Cloud accounting is a computing service provided through computers or similar devices, like smartphones, tablets, etc. via the internet. Simply put, working in “the cloud” is all the ways we use the internet.

It is more flexible as you can access your financials from any device that connects to the internet, from anywhere, at any time. A traditional on-site accounting software system can only be accessed from a few computers situated inside your office.

Cloud accounting updates financial information automatically and offers you real-time reporting. Not only does this eliminate the possibility of human error in data capturing, but you can have peace of mind that your balances are always accurate.

A system based in the cloud can better handle multi-currency and multi-company financial transactions.

There is no need for you to fork out money for fixed, expensive equipment and software licences as your business grows. Cloud computing cancels out increased licence, database, systems management and software costs for a growing business.

Unlike on-premises accounting software solutions, cloud accounting solutions don’t need as much maintenance. Updates happen automatically and there’s no need to update or download anything on a company computer.

When working off cloud accounting, employees in other departments, offices or across the world can access the same accounting data and the same version of the software.

You can easily share data in the cloud. All it takes is two users logging in with their unique user names and passwords. Traditional methods can be more cumbersome and require you using a flash drive, for example, to get information from one computer to another. This is also a security risk as the flash drive or disc being used can be lost or stolen.

But you’re a little concerned a cloud-based accounting system will compromise the security of your financials.

Cloud accounting is as secure (if not more secure) than traditional accounting.

Think of it this way. The accounting information stored on a traditional in-house accounting system on your laptop will be lost forever if that laptop is stolen, let alone the information breach this could lead to.

With your financial information in the cloud, none of your financial data can be traced on company computers and the information in the cloud is encrypted and password protected.

QuickBooks offers online accounting software solutions for small businesses. Find your right fit by calling us on 010 203 4300 or emailing info@easybiztech.co.za today.

 

How to Digitise your Business through Social Media Marketing

digitise

 

 

With a lot of companies and people working remotely and the country going into lockdown, there is no better time to focus on digitising your business.

 

Most people will be spending a lot more time online. With that being said, this is a peak time to market your business and services on social media. This can help you reach more potential customers and ultimately increase your business leads, while your customers can contact you directly from the chosen platforms.

Wondering where to start? Here we have some tips to help you digitise your business and market on social media.

 

  1. Start with a Plan

Before you begin creating social media marketing campaigns, consider your business’s goals. Starting a social media marketing campaign without a social strategy is a recipe for disaster and panic.

 

  1. Meet Your Marketing Goals

Now to consider your business’ goals and how to meet them. Here are some questions to ask when defining those goals:

  • What are you hoping to achieve through social media marketing?
  • Who is your target audience?
  • What platforms would your target audience use and how would they use social media?
  • What message do you want to send to your audience with social media marketing?

 

These goals are important and will help you do a stellar job on social channels. But you also need to understand how those goals can help your business. Social media marketing can help with several goals, such as:

  • Increasing website traffic
  • Building conversions
  • Raising brand awareness
  • Creating a brand identity and positive brand association
  • Improving communication and interaction with key audiences

 

  1. Choose the Right Platforms

There is no shortage of social media platforms where content can be shared. Sharing your content on the right platforms is crucial to your success.

 

When determining which channels to use, you should consider your customers (audience) and your business. It’s important that you create accounts on the platforms your target audience uses, so they can easily connect with you. You should also consider which sites best fit your products.

 

  1. Create a Content Plan

Scrambling to create posts at the last minute can lead to low-quality content and panic. A lack of organization can lead to repetitive posts or a lull in your presence on one or more of your channels. Creating social media content calendars or content plans can help avoid those mistakes and lead to more effective posts. Content plans also help you create goals and strategies for meeting them and track your progress toward them.

 

To make a content calendar, use a regular calendar for each social media channel and plan out your posts in advance, complete with hashtags, links, images and other content.

 

Make sure you post regularly and offer truly valuable information that your ideal customers will find helpful and interesting. The content that you share on your social networks can include social media images, videos, infographics, how-to guides and more.

 

  1. Consistent Brand Image

Using social media for marketing enables your business to project your brand image across a variety of different social media platforms. While each platform has its own unique environment and voice, your business’s core identity, whether it’s friendly, fun, or trustworthy, should stay consistent.

 

  1. Sharing Links

While using social media for marketing is a great way to leverage your own unique, original content to gain followers, fans, and devotees, it’s also an opportunity to link to outside articles as well. If other sources provide great, valuable information you think your target audience will enjoy, don’t be shy about linking to them. Curating and linking to outside sources will improve trust and reliability, and you may even get some links in return.

 

  1. Competitors

It’s always important to keep an eye on competitors—they can provide valuable data for keyword research and other social media marketing insight. If your competitors are using a certain social media marketing channel or technique that seems to be working for them, considering doing the same thing – but make yours better!

 

  1. Keep Track of your Success

You can’t determine the success of your social media marketing strategies without tracking data. Google Analytics can be used as a great social media marketing tool that will help you measure your success, as well as determine which strategies are not working. You can also make use of Facebook Business Manager, Twitter Campaign Manager, LinkedIn Campaign Manager, etc.

 

  1. Community Management

Have someone dedicated to checking your platforms. This means that someone will monitor the comments, inbox messages, and reviews, etc. posted to your channels. This is a good way to show your customers that you are there for them and gain potential new customers.

 

  1. Address Problems Quickly

Hopefully, you receive mostly positive feedback on social media. Occasionally you may encounter someone who is upset, argumentative or has something negative to say about your company.

 

You should carefully monitor mentions of your brand on social channels, so you can catch issues before they escalate. If you spot a problem, engage with the person by publicly apologizing if necessary and offering to solve the problem over a direct message exchange. This way, people who see the post know you were responsive but don’t have to see all the specifics of the issue.

  1. Provide Value

Perhaps the most important thing you can do on social media to provide value to your followers. Create something that your audience will find useful. It could be something that tells them something they didn’t know before, makes them laugh, entertains them or anything else that’s beneficial in some way.

 

This aspect of social media is what attracts the right customers to your business, makes people want to follow you on social sites and helps content to spread. Master this, and you’ll be a big step closer to a successful social media marketing campaign.

 

With nearly 3 billion active users, social media is a potential goldmine of new customers and current patrons who could become repeat customers. Create a good social campaign, and you’ll be able to connect with some of those people and grow your customer base.

 

In case you missed our previous blog, here we talk about how to digitise your business through digital marketing: here

2020 Trends for Accountants

Technology is always evolving and the advent of innovations in the world is boosting economic growth at a global level.

Accounting is no exception. It plays an important role in any business. By being up to date and organized, accounting software can provide accurate, relevant, and valuable financial information, leading to better business decisions and assist in reaching the desired business growth.

Here are some of those trends you can expect to see this year:

  1. Migrating to Cloud-based Software

Cloud-based software has already made its presence in accounting. By adopting this, you can establish your practice as a leading brand that provides up to the mark CPA services.

QuickBooks Online is a perfect example of this.

Find out more here.

Products such as QuickBooks Online allow you to store & access data, utilize inbuilt tools and features from anywhere, anytime. As well as automated bank feed reconciliations, expense claim tracking, inventory control,  multi-currency processing, etc. Everything is automated.

  1. Potential of Internet

Using the internet allows your bookkeepers and accountants to have two-way conversations with colleagues and clients. There are many applications out there for face-to-face virtual interactions as well as being able to expand and assist clients across the globe.

  1. Millennial Clients

Slowly but surely the younger generation of “Millennials” will start taking the lead in most aspects of almost everything. Many business owners that fall in that category are willing to explore beyond standard business approaches and systems. Cloud-based accounting is the exact reflection of something they would expect. The era of millennials means that accountants need to handle completely different types of clients who prefer a greater level of proactiveness, enhanced operational transparency, and a personalised approach.

  1. Social Media Platforms & Accounting

Platforms such as LinkedIn, allow firms to market their services more broadly and keep connected with clients, colleagues, and partners. Such platforms also help you stay updated with the latest trends in the accounting and business sectors and how they make a difference in their work.

The number of social media users worldwide in 2019 hit 3.484 billion, up 9% year-on-year. Facebook, Twitter, and Instagram can be used for B2B and B2C with a massive number of users as well.

  1. Artificial intelligence

Artificial Intelligence (A.I) is an exciting prospect for accountants as there is the potential to effectively add a ‘virtual’ member to the team that is available 24/7 to answer multiple questions and carry out simple tasks even when the office is closed. This emerging technology will be used in the day-to-day running of businesses allowing complex and repetitive tasks to be automated with A.I, machine learning, and robotics with extreme accuracy.

2020 brings with it new opportunities and digitisation is the key trend that will dominate the profession. Accounting firms that are looking for sustainable and long-term success will need to ensure their clients can accomplish any task relating to their finances on a mobile device.

In conclusion, digitisation is becoming a must for all businesses, and it is shaping the trends that we will see in accounting. Something that every business needs to keep up with to strive and make sure they not only stay relevant but that they can offer the best and most up to date solutions for their clients and business.

How To Digitise Your Business Through Digital Marketing

Firstly, what does it mean to digitise your business? Well, digitalisation is when you use digital technologies to change a business model and provide new revenue and value-producing opportunities. Digitalizing your business can give you a competitive advantage by doing things better, faster, and cheaper than your competition.

Digital marketings any form of marketing products or services that involves electronic devices.

Having your business digitised in this day and age is imperative to make sure you stay relevant. The vast majority of the population are on their phones or computers 99% of the day. Therefore, making sure they see your ads and business is a must.

 

Why digital marketing matters:

Just think of it this way, Google and Facebook generate more revenue than any traditional media company because they control more eyeballs. That’s why digital marketing matters, it is where people’s attention is. It is the easiest and best way to onboard new clients and boost your business. Let’s be honest, not many people are as receptive to pamphlets and cold calling as they used to be.

The 7 big categories of online marketing are:

  • Search engine optimization (SEO)
  • Search engine marketing (SEM)
  • Social Media Marketing (SMM)
  • Pay-per-click advertising (PPC)
  • Email marketing

And now to break them down.

SEO will help optimise your website and bring you to the forefront of Google – ensuring (if done correctly) your business will appear on the first page of the Google search results page. Which ultimately is the goal, right?

SEM is essentially Google ads. For example, when you Google a product or business, the first few search results will have “ad” at the bottom of them, this is a Search Text Ad. If you are watching a YouTube video and a banner for a product or service pops up, this is a Display Ad. It is just another way of getting your business seen because everyone Googles everything.

Social Media Marketing is creating content for social networks like Facebook, Twitter, Instagram, and LinkedIn. Most people spend a huge amount of time on at least one of these networks, and if you have relevant content that is consistent, you are bound to attract attention and business.

PPC or pay-per-click advertising is businesses running Google ads and are only charged when a user actually clicks on their ad, hence the name “pay-per-click.”

Email Marketing is a highly effective strategy of sending emails to prospects and customers. Effective marketing emails convert prospects into customers. This could include banners on your emails, scheduled emails that go out to prospects, etc.

Now that we have the basics out of the way – the question is… how can digitising your business help with accounting?

We have drastically moved on from the days where you needed to write out receipts, keep boxes of slips and have to manually find and collaborate all of your company’s data. Because of everything going the digital route, it has made accounting that much easier and smoother, eliminating the chances of human error, as well as shortening the time it takes. With EasyBiz and QuickBooks Online, you can save up to 45 hours a month!

Instead of having to do everything yourself, QuickBooks Online allows you to run your small business seamlessly from the cloud. Because it’s cloud accounting software, your data is automatically synced across your devices so that your work is never lost. It also means you can run your business from the office, the car or the kitchen table.

Check out how EasyBiz and QuickBooks Online can help digitise your business today: Quick Books

That’s the scoop on how to digitise your business to save you time and money while helping you onboard new clients in an easier, more relevant way.

 South African Budget Speech 2020

The Budget Speech – an important time for South Africans and South African businesses in general. Shedding light on where we are as a country in terms of finance and what we can expect to happen during the next financial year.

It is vital information to have so you know how to prepare your business for what is to come in the business sector and make sure you plan accordingly to keep your business up and running fully.

In case you missed it, here is a summary of the events: 

  • The Finance Minister Mr Tito Mboweni announced on Wednesday, 26 February 2020 in the Budget Speech that much intervention is required to address the cost of wages in the public sector and has proposed reducing the public sector compensation bill by R160 billion over 3 years. 

This has been welcomed by many, but the trade unions are not happy.

  • One of the reasons the trade unions are unhappy is that the public sector employee compensation has remained at about 35% or so of the total expenditure over the last decade, wages are not the problem.

Looking closer, it seems that their statement is debatable and that the Minister is in fact accurate. The reason being is that the trade unions are referring to how much wages are as a ratio concerning other public expenditures.

However, the Minister is referring to affordability, which is an expenditure item relative to government revenue. If we had to accept the unions’ argument as a good measure, the government could just spend R200 billion more on goods and services funded through debt and the ratio of wages would, as a result, be corrected.

  • When compared to tax revenue collected over the last 12 years, another reality emerges. The public sector wage bill has not remained constant and has grown from just over 30 percent to over 40 percent. When compared to GDP, it has consistently grown from 10,29% in 2001, to 10,73% in 2011 to 12,3% in 2021.These increases might not appear large, but one must consider that that GDP equates to approximately R5.4 trillion. The wage bill has been tracking government expenditure growth at over 10% per annum.

This represents enormous growth in the affordability of the public sector wage bill as it relates to what government can afford and to what the country can afford.

  • The latter criteria of productivity are a lot more difficult to address given the lack of effective and transparent productivity measures in the public sector. Some have tried to analyse productivity like ‘Prophet Analytics’ in their 2012 quarterly Labour Market Navigator found that private sector employee productivity was 450% higher than in the public sector employees. In 2015 the Financial and Fiscal Commission found that the government was not doing enough to provide services “efficiently, effectively and economically”.

The Minister, in 2019, and this year in 2020 concedes as much, stating this year that civil servant’s salaries have grown by 40% in real terms but without the equivalent increase in productivity. These may all be persuasive rather than conclusive factual findings as it relates to productivity but seems to affirm what the public is experiencing daily.

In conclusion, South Africa cannot afford its public sector at the current level of stagnation and budget cuts for compensation and benefits are required. The second economic reality is that compensation only becomes problematic if it lacks concomitant productivity.

We hope this has been informative and helps you prepare your business for the upcoming year.

Please fill out the form below to receive the trail demo link

Personal Information
Where a party receives any personal information (“PI”) related to the other party, the party who receives the PI, will comply with and have adequate measures in place to ensure that its employees, agents, subsidiaries and representatives comply with the provisions and obligations contained in the Protection of Personal Information Act, No. 4 of 2013. Any PI pertaining to one party which is required by the other party, will only be used by that other party for the purposes of this contract and will not be further processed or disclosed without the written consent of the latter and the recipient of that PI will take all reasonable precautions to preserve the integrity and prevent any corruption or loss, damage or destruction of the PI. If and when the contract is terminated, each party will, save to the extent that it is required to do otherwise by any applicable law, erase or cause to be erased, all PI and all copies of any part of the PI relating to the other party”.

Please fill out the form below to receive the trail demo link

Personal Information
Where a party receives any personal information (“PI”) related to the other party, the party who receives the PI, will comply with and have adequate measures in place to ensure that its employees, agents, subsidiaries and representatives comply with the provisions and obligations contained in the Protection of Personal Information Act, No. 4 of 2013. Any PI pertaining to one party which is required by the other party, will only be used by that other party for the purposes of this contract and will not be further processed or disclosed without the written consent of the latter and the recipient of that PI will take all reasonable precautions to preserve the integrity and prevent any corruption or loss, damage or destruction of the PI. If and when the contract is terminated, each party will, save to the extent that it is required to do otherwise by any applicable law, erase or cause to be erased, all PI and all copies of any part of the PI relating to the other party”.