The Crest 97

Page 17

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n keeping with the theme of seven, Melissa shares the seven main reasons that cause businesses to have cash flow challenges. Solving these seven challenges will assist to alleviate any cash flow pressures. Insufficient Sales – Be sure to know your break-even sales point. Divide this by the number of weeks in the month and even the number of

Lucky

SEVEN

GILLITTS-BASED ACCOUNTING FIRM MJ CHARTERED ACCOUNTANTS CELEBRATE THEIR SEVENTH BIRTHDAY IN OCTOBER, A VERY PROUD MILESTONE FOR BUSINESS OWNER MELISSA JACOBS

are sufficient controls around the ordering process. Excessive Owners Drawings – Pay yourself a fixed salary on payday with the rest of the staff. Don’t live out of the till. Don’t buy what you can’t afford and don’t live beyond your means. Insufficient Savings – Every business has a bad month. Work towards saving two to three months fixed expenses as a safety net. Recent Testimonial

7 Interesting facts about MJ Chartered Accountants  Started in October 2013 as MJ Accounting and Tax Solutions  Moved four premises over the past seven years  Hired 11 employees 181 active clients  Melissa would have consumed 7 280 cups of coffee at the office over the seven years  Melissa worked 4 368 hours of overtime in the seven years  Melissa and Nicole are training to run the Comrades next year, to raise funds for lion conservation

trading days in the month so you can calculate how many sales you need to make each day to at least break-even. Remember sales is a function of generating leads and converting these, you need to master both. Poor Debtors Collections – It’s no good doing the work and not getting paid, or not getting paid on time. Ensure you educate your clients on your payment terms, implement a collections process and do

regular follow-ups. High Debt Levels – Ensure you know your cash flow break-even point. Closely monitor all your expenses and cut out any fat. Pay off the expensive debt first. Big Cash Gap – The timing difference between paying money out (to suppliers) and getting money in (from customers). Try and negotiate a longer payment term with your suppliers and a shorter payment term with your customers. Factoring your debtors can be an option for your business too. Overstocked – Excess

MJ CHARTERED ACCOUNTANTS

Our Offer to You A Complimentary Tax & Accounting Health Check to ensure all your affairs are up to date and fully compliant. To book your session email Melissa at melissa@mjacc.co.za

stock on the shelves ties up your cash flow. Ensure you implement re-order levels in your business and that there

O C T - N O V

2 0 2 0

MJ Chartered Accountants have provided us with accounting and business advisory services since 2014. The efficient and personal service we have received over the years has helped us to focus on other aspects of our business. Melissa and her team are very much a part of our company and go above and beyond the call of duty” KR van Staden, Director, Shades of Green

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Sweet & STICKY

2min
page 51

CATS are not small dogs

2min
page 53

GO WITH THE FLOW

1min
pages 48-49

The Bee's KNEES

2min
page 52

PATTERN PLAY

3min
pages 44-45

BRAND STUDENTS SHINE

4min
pages 32-33

First of the summer WINES

3min
pages 38-39

The benefits of sharing OFFICE SPACE

1min
page 7

BUYING WHERE THE BIRDS SING

2min
pages 26-27

Deserving Win

1min
page 8

THE SEXTON

1min
page 7

Stepping off the TREADMILL

3min
pages 29-30

What kind of retiree are YOU?

3min
page 28

A legend of the TURF

3min
pages 22-23

LUCKY SEVEN

2min
page 17

Accountability in the WORKPLACE

2min
page 20

Boost your BUSINESS

2min
page 18

PEACE OF MIND

1min
page 8

THE LEARNING JOURNEY AT ST MARY'S

3min
pages 24-25

Local is LEKKER TANYA VISSER WORKS HER MAGIC TO CREATE A CHARMING LITTLE GARDEN IN THE BEAUTIFUL EMBERTON ESTATE

2min
pages 14-15

HAPPY hooligans

3min
page 50

KEEPING YOU IN THE LOOP

1min
page 8

How green is your LIFE?

3min
pages 34-35

Count on US

2min
pages 40-41

A SAFE HAVEN FOR PREGNANT & NEW MAMAS

1min
page 6

Get your GLAMP ON THIS FAMILY-FRIENDLY GETAWAY IN THE MIDLANDS

2min
pages 56-57

Education for the digital AGE

2min
page 46

Brand Hub Store

1min
page 6

A dairy full of SAWDUST

1min
pages 10-11
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