Articles

Omni Articles

Considering an ERP? Here are the Benefits of Resource Planning Software

12|12|2018

Considering an ERP? Here are the Benefits of Resource Planning Software

Exploring the Benefits of Resource Planning Software

Put down your spreadsheets. Read on to learn the benefits of electronic resource planning software (ERP) and how it can make your job easier.

Read more

Business in South Africa in 2019

30|11|2018

Business in South Africa in 2019

What does 2019 hold in store for businesses in South Africa?

Unfortunately no one has a crystal ball and there are many different opinions. What we know is that South Africa is currently experiencing a technical recession. Some experts are indicating that the country may come out of this recession in the first half of 2019 and others are more pessimistic . . .

Read more

General Accounting Part 1

23|11|2018

General Accounting Part 1

General Rules of Accounting

General Rule No 1: All transactions must be recorded. General Rule No 2: The Double Entry method must be used to record transactions. General Rule No 3: Every transaction is recorded in the General Ledger, also known as the Nominal Ledger.

Read more

Advantages of an integrated Point of Sale (POS) system

05|11|2018

Advantages of an integrated Point of Sale (POS) system

What is a Point of Sale system?

In its most simple format, a POS system is a cash register which captures sales. According to Wikipedia, the basic, fundamental definition of a POS System, is a system which allows the processing and recording of transactions between a company and their consumers, at the time in which goods and/or services . . .

Read more

Bill of Materials

30|10|2018

Bill of Materials

What is a Bill of Materials?

Wikipedia defines a Bill of Materials (BOM) as ‘a list of the raw materials, sub-assemblies, intermediate assemblies, sub-components, parts, and the quantities of each needed to manufacture an end product’. The end products are often referred to as the ‘finished goods’.

Read more

Inventory (Stock) Control

10|10|2018

Inventory (Stock) Control

What is Inventory?

Inventory (also referred to as stock) can be defined as the products or items which are sold by a business or used to manufacture products which are then sold.

Read more

Some tips on how a business can survive tough economic times

08|10|2018

Some tips on how a business can survive tough economic times

Manage Cash Flow

Managing cash is critical; a business needs to be able to pay its staff and its suppliers. Without these resources a business cannot trade. Cash inflow from sales needs to be quickly and accurately updated. In order to achieve all this, it is vital to have an accurate record of your bank accounts, and . . .

Read more

What is an ERP System?

08|10|2018

What is an ERP System?

What is an ERP System?

ERP stands for Enterprise Resource Planning. This is a very broad term which covers a large variety of functions. Typically an ERP system refers to software which is integrated across multiple aspects of the processes of a business or enterprise.

Read more

Job Costing

28|09|2018

Job Costing

Job Costing Definition

A simple definition of Job Costing, is the calculation of all costs incurred in order to do a Job. These costs can be comprised of raw materials, labour, outwork and overhead costs. What a Job is will depend on the type of business.

Read more

Barcodes

13|09|2018

Barcodes

What are barcodes?

Wikipedia defines bar codes as ‘A barcode (also bar code) is an optical, machine-readable, representation of data; the data usually describes something about the object that carries the barcode. Traditional barcodes systematically represent data by varying the widths and spacing’s of parallel lines’.

Read more

The Importance of Backups

23|08|2018

The Importance of Backups

The Importance of Backups

Making regular backups of information is extremely important. Losing data can have an impact on a business ranging from being merely annoying to catastrophic. Unfortunately setting up a good backup system is so often ignored and often not checked on a regular basis.

Read more

What is Bookkeeping?

14|08|2018

What is Bookkeeping?

Bookkeeping

Bookkeeping is the recording of all financial transactions in a business. The information is captured into accounts, called Nominal or General Ledger accounts, which can then be used to manage the business’s financial transactions.

Read more

What is Manufacturing?

11|08|2018

What is Manufacturing?

Manufacturing Definition

A simple definition of a manufacturing business is one where the company buys stock, commonly referred to as Raw Materials, and combines these stock items in order to make different items which are then sold, commonly referred to as Finished Goods.

Read more

VAT Audits

28|05|2018

VAT Audits

How to prepare for a VAT Audit

In most cases however the audit inspector from SARS is looking for overall compliance, and in most cases where a SARS inspector uncovers minor incorrect claims, both in respect of input and output VAT, these are simply pointed out to the business undergoing the inspection with the relevant corrective instructions.

Read more

Financial Year End

28|05|2018

Financial Year End

Financial Year End, What is it?

Firstly let’s distinguish between Calendar year and Financial year. A Calendar year is fixed and always runs from January to December. A Financial year, although normally also 12 months, does not necessarily run from January to December.

Read more

Omni Premium Bundle

28|05|2018

Omni Premium Bundle

Omni Premium Bundle

Omni Accounts is a fully integrated Accounting & Enterprise Resource Planning (ERP) software package, uniquely designed to meet the needs of various size businesses, offering solutions from R 500.00 to well over R 500 000.00. All with ONE product.

Read more

Category Filter

Date Range


Categories







Navigation

Social Media