Recent Posts
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Guides Invoicing10 common invoicing mistakes to avoid
Caught up in the ever-continuing spiral of providing quality offerings, improving existing services, and acquiring new customers, businesses often treat invoicing as an afterthought when they deserve more attention than they receive. Invoicing is foundational for any business. Getting it wrong means disrupting your cash flow and the smooth functioning…
5 mins read
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Articles AccountingHow to make bank reconciliation easier with cloud accounting
Hearing the words "bank reconciliation" may make you groan, and we understand why! Reconciling your accounts manually can be a long, cumbersome process prone to human error and further risks, costing you time and money. If you have a business with multiple accounts, it may be more difficult to oversee…
4 mins read
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Guides Accounting‘It’s a match!’: A simple guide on how to do bank reconciliation
Finding the perfect match isn't always easy, especially when it comes to business transactions! Let's say you check your records at the end of a certain period, and while calculating your total figures and cross-checking them with your bank statement, something doesn't add up. There's a mismatch between your cash…
4 mins read
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Guides Accounting
How transaction categorization can lead to smarter business decisions
Maintaining and tracking your finances can be a hassle, especially if you have a large amount of transactions. Let's say you're trying to reconcile your accounts, and your transactions are mixed together instead of being assigned to certain groups. This can cause confusion and frustration. That's where a key part…
5 mins read
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Articles AccountingWhere can your AR/AP process go wrong? Here’s how you can fix common problems
Your accounts receivable (AR) and accounts payable (AP) processes are a crucial part of your business. However, it's easy to slip up and make entry errors, omit data, or mismanage teams. While some mistakes in your AR and AP processes are common, failure to correct them can be detrimental to your…
7 mins read
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General-FAQ Accounting
FAQs on Value Added Tax: the Kenya edition
1. What is VAT? Value added tax or VAT is a tax applied to taxable goods or services at each level of the production chain. Right from when a supply is sourced and manufactured, to when it is sold to the final consumer, VAT is applied and carried forward to…
2 mins read
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General-FAQ Accounting
E-invoicing FAQ: All you need to know about e-invoicing in Kenya
Q. When did these electronic tax invoice regulations go into effect in Kenya, and who needs to comply with them? The electronic tax invoice regulations went into effect 1 August 2021. They are applicable for all VAT registered taxpayers in Kenya. Q. How long do organizations have to comply with…
4 mins read
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Articles AccountingWhat is electronic tax invoice in Kenya
The Kenya Revenue Agency (KRA) introduced the electronic tax invoice in an attempt to adopt the advances in technology and increase compliance from taxpayers. The main goal of introducing electronic tax invoices is to streamline VAT administration in Kenya through the Tax Invoice Management System (TIMS). Tax invoice management system…
4 mins read