Managing cash flow – Part 1&2

Managing cash flow – Part 1&2
Part 1

Managing Cash-flow – It is all about managing what is coming in and what is going out.

It applies to you, in your personal and business life, gone is the days you just had cash in your wallet to manage.

I had a client where the son had to step in for the father while he was sick. Staff was shouting “pay this”, “pay that” and it was a press of a button and they made the payments.

VAT was due in a few days! when I stepped in, stop!

Steps to managing your cash flow – Know what is coming in and what is going out.

1 – Make a list of all your debit orders and the dates that they get deducted from your bank account.

2 – Make a list of all your regular variable payments that you need to pay, e.g Telkom, Vodacom etc.

3 – Check the dates that they are due on.

4 – If you are taking on new debit orders, ask the supplier what payment dates are available.

5 – The same applies for regular payments, e.g school fees.

Remember as a sole proprietor and small business we don’t receive a salary or a fixed amount on one day.

Now that we have a list with amounts and dates, see a simple schedule is available at www.thebookkeepingcompany.co.za/business resource.

Check the due dates on all. If you are taking on new debit orders ask them what dates are available for payment. Even your regular payments, personal payments e.g school fees.

I had a client who would tell me on which payment run he was going to pay me. Ha? Yes, he set 3 payment runs, a month.
  • The first of the month – was for debit orders from the suppliers that insist your debit order go off on the 1st.
  • The 7th of the month
  • The 15th of the month
So, if I sent my invoice to him on the 5th he would pay it on the 7th, if I sent it on the 8th he would pay it on the 15th. He let his money rest in his account. He had paydays.

If you look at the due dates on Telkom and the City of Cape Town invoice they have a due date., schedule them to one of the above.

Part 2

Now, you have a list, you have scheduled payment dates, made your paydays.

Cash -flow - Now we look for future changes because nothing stays the same. Surprises are stressful.

1 - Take note of the month your Annual Increase to your Insurance, security, rent etc. is in.

2 - Make a note when your Car Licence, Drivers Licence, Staff Drivers Licence is due and payable

3 - Add a note when your Annual Service Fees are due on your credit card

You will be able to determine what they are. Have a look at your Income Statement from the previous 12 months.

Saving for expenses 

I am reading a book by “Mike Michalowicz - Profit First”, which opens my eyes to the way my mom and Gran did things in the old days. My Mom ran the financial side of the business of my Dad's business - very well.

Instead of waiting to pay your salaries at the end of the month, and hoping there is going to be money to pay the salaries. Open a bank account (savings) and each week put away 25% of your monthly payroll or put a percentage away daily.

Your Credit Card, if you have one has two dates on it.
  • The Statement date, interest, and penalties will be charged on this day.
  • The due date for when payment is to be made.
Now if you have read, Tips to Managing your cashflow – Part 1.

You will have read that you need to schedule your payments, well you can manage your credit card too.

Contact your bank - Card division and ask them to change the date your credit card statement runs on. If your statement date is the 5th (the last day to shop for the month). Your payment due date will be 25 days after, so the 30th of the month. If you want to make the payment due date the 7th, ask them to change the statement date to the 12th or 13th of the month. Ensure you pay the full amount due on this day to avoid those lovely interest and penalties.

In Conclusion – spread your payments over the month – schedule them – it's your money-manage it. Tips to Managing your cashflow – Part 3 coming soon.

Need assistance with managing your cashflow Cherine@the Bookkeeping Company.co.za

School term is fast drawing to a close for another year – and while learners are thinking about their next steps – what does it take to forge a career as a neuroscientist? 
By Dr Samantha J. Brooks Ph.D.

Being a neuroscientist is about learning to accurately study the brain, how it functions in health and mental disorder, and designing experiments to collect data about the brain and write up findings for an international audience. Being a neuroscientist is an exciting job, and neuroscience is really important in South Africa. For example, a South African neuroscientist could study brain-related illnesses such as addiction and HIV-related cognitive problems that place a huge socio-economic burden on South African society. You don’t have to study medicine to become a neuroscientist, and you can start studying neuroscience at any age. But, like a medical doctor, you’ll need to prepare yourself for a few good years of studying – about 10 years to be precise! Don’t be put off though - after all that studying a wonderful career awaits! The last decade was coined the decade of the brain for good reason - there were many amazing brain-related discoveries, such as the invention of functional magnetic resonance imaging (fMRI). fMRI allows neuroscientists to look into the brain while a person is still alive! But we need more neuroscientists to keep making new discoveries!

Studying to become a neuroscientist typically begins with a Bachelor’s degree – finishing at honour’s level - in a subject like psychology, physiology, computer science, science, mathematics. Students with good matriculation grades in Cape Town can choose to study for an honour’s degree at various excellent universities including the Universities of Cape Town, Western Cape, and Stellenbosch. After gaining an honour’s degree, students will typically go on to study towards a Master’s degree in a science-related subject – which can be completed over 1 (full-time) or 2 (part-time) years. During Master’s study, a student will learn about neurons (brain cells), the way neurons connect (synapses, dendrites), the organisation of the brain (neuroanatomy), how the brain works (neuronal activation), both in health and disorder (e.g. neuropsychiatry), on a macro level (e.g. brain scans) and on a micro level (e.g. cellular systems, neurotransmitters, genes). Completing a Master’s degree (usually with a thesis and sometimes also exams) will equip a person with the necessary knowledge, writing skills and analytic thinking to continue onto doctoral level towards a Ph.D.

Gaining a Ph.D. in neuroscience typically takes about 3-4 years, and students are expected to conduct some novel experiments to test a question about the brain. This is exciting because a student – by doing a Ph.D. – can contribute to improving the mental health of people in society. Not only that, but a doctoral student gets to join a community of neuroscientist researchers, involving lectures, clubs, societies etc. After a Ph.D., students can train in clinical work or continue down the research route. Research after a Ph.D. is known as postdoctoral study, where further grants are often available to pay for salary and research costs over approximately 2 years or more, to deepen one’s area of expertise and to publish more work. There is an old adage in research – publish or perish – which perhaps sounds a bit harsher than reality! But essentially, it is good to learn early on how to write papers for the international neuroscience community, so that work in South Africa can become known and read all over the world!
                                                                                                                                                   
What else is there to say about a career in neuroscience? Well, it has taken me from a small farming village in the middle of England – where I completed my schooling (matric.) – to all corners of the world, working with different groups and presenting work with my colleagues on important issues to help people with mental disorders to get better. My colleagues and I work together to try to build international connections so that we can try to solve some of the brain’s deepest mysteries. Such as, what is consciousness and how does consciousness relate to mental illness? Where is the mind located in the hardwired physical brain, and what happens to the brain when the mind becomes disordered? How do we improve treatment for various psychiatric conditions? And what are the best neuroscientific methods to use to get to the crux of the issue of mental disorder? If you like meeting new people, working as a team, writing interesting articles, conducting experiments to test the hypotheses related to these questions, and to travel - then perhaps neuroscience is a career for you! Do get in touch if you would like to learn more, we are always on the look-out for research assistants and new students to join us! I hope to hear from you soon!

Dr Samantha Brooks is a neuroscientist at the UCT Department of Psychiatry and Mental Health, specialising in the neural correlates of impulse control from eating disorders to addiction. For more information on neuroscience at UCT and to contact Samantha, see www.drsamanthabrooks.com.

Bringing Birdlife to Life

There is nothing quite as peaceful as listening to birds singing first thing on a quiet morning, their gentle flutter and soft chirping a reminder of all that is simple and beautiful in the world. With rapid urbanisation, sightings of our feathered friends are not as frequent as they should be, and the need to bring birdlife back into communities and gardens is essential. Encouraging birdlife to frequent our cities, parks and gardens is simple with these three tips.     


Birds seek out new resting places where they can enjoy shelter, protection, and comfort. One of the first ways in which birds can be attracted to a garden is to plant inviting species. Interesting textures, colors, and scents attract birds and therefore including plants such as Watsonias, Aloes, Lion’s Ears, grasses, and grains will entice winged friends to frolic amongst them. Plants provide protection and shelter from the elements, as well as attract various insects and butterflies, which allow birds to feast to their heart’s content. Including climbers and trees in your selection of plants will create a natural habitat in which birds will feel welcome and at home.


Enticing birdlife with food is another simple way in which to draw them to a garden. Birds enjoy seeds and fruit, and providing nutrition for them in an easy-to-reach way will encourage a flock of visitors! Bird-feeders are the best way to offer food to fluttered friends and are simple to make. Covering a pine cone or leftover bread crusts with peanut butter and sprinkling them with seeds offers a natural, healthy option for birds to feast on. Alternatively, making a simple bird feeder by recycling a plastic bottle is equally effective. Cut four holes in the sides of a 500ml plastic bottle, ensuring the two holes align. Slide small wooden spoons through the holes, creating a ledge on which the birds can perch. Fill the bottle with seeds, and hang the never-ending sustenance in the trees for the feathered friends to enjoy.


A third way in which birds can be encouraged to frequent our gardens is by providing them with fresh nesting spaces. Birds enjoy making new homes for themselves, and once they feel comfortable and safe, they are in no rush to move on. Birds naturally find shelter in hollowed out tree trunks, or by building nests with reeds and twigs, but they also appreciate comfortable box houses that are sturdy and secure. Encourage birdlife to find shelter by removing old nests from the surrounding area, and placing birdhouses or boxes a few meters off the ground on a sturdy pole, or by securing them to branches. There is no need to place grass, twigs or reeds inside – birds will do the decorating and make their new homes comfortable in no time at all.

On 25 November 2017, Birdlife SA will be hosting the annual Big Bird Day with the aim of raising funds for bird conservation. A hope for 2017 is to break 2016’s record of spotting 654 species of birds, which will be made even easier by encouraging feathered friends to visit our spaces once again. Provided with a comfortable environment in which they can find shelter and food, birdlife will bring the greatest reward of their pleasurable company back to our parks and gardens in no time.

Norgarb Properties Agent Andre Ter Moshuizen who specialises in the Claremont area, will be sharing some household tips and handy home hints with you every month.

Andre Ter Moshuizen: 082 602 1367 | andre@norgarb.co.za | www.norgarbproperties.co.za





THE CHIROPRACTIC HEALTH CENTRE IS RUNNING A MASSAGE SPECIAL!




For the month of October 2017, all you have to do is print this article and present it at your next massage treatment to get R150 off!

How to be healthier than you are right now? 

The question of the hour….

And answering it is not easy – we still don’t have all the answers. Many different things impact your health and these things affect us all differently.

How can we reach our peak? Where do we start?

A good place that we can start would be the variables that are not optimal (or at least within the ‘normal’ range). E.g. If a parent suffered from diabetes and you have raised fasting glucose levels, your focus should be on preventing diabetes. But a word of caution: fixating on one factor or one possible disease can become counterproductive. And one of the nice things about health is that changes you make to one area of your life e.g. eating more vegetables, will have beneficial effects on MANY if not ALL other factors and disease risk e.g. reduced risk of heart disease, obesity, cancer, diabetes, etc, etc.

Health can be complicated, but we do have some general answers. The funny thing is that most of the best recommendations regarding the improvement of health are surprisingly well known. A recently published research study looked at all the factors that will improve health and extend life. Millions of dollars and thousands of hours spent on it. The result? The top four factors:
  1. Eat better 
  2. Exercise 
  3. Don’t smoke 
  4. Drink alcohol minimally 
That’s it. The basis of a healthy life. It’s stuff your parents taught you (I hope). Of course it becomes slightly more complicated in the details e.g.

What makes eating ‘better’?
What exercise for how long? 

What about second-hand smoke?

But this study is not about giving us all the answers: this gives us a place to start – on which to build our health and our lives.

People love to overcomplicate things.

It is a combination of human curiosity, obsession and, unfortunately, the desire to make money that contribute to the quagmire of medical minutiae:

“Only eat this fruit – the others are bad.”

“Only do this exercise – the others will hurt you.”

“If you don’t sleep exactly 8hrs, you will spontaneously combust.”

All the teeny, tiny ‘tips’ and ‘tricks’ and even some of the ‘rules’ and ‘systems’ are based on some sort of logical reasoning process, and even some evidence (to varying degrees). But most of these are what’s known as “majoring in the minors”. So try not to worry too much about whether or not you’re eating this “superfood” (I mean, does it have a cape and tights?) or taking that “nutriceutical supplement” – just stick to the basics day in and day out and good things will happen.

Our next post will focus on more of the specifics – the meat & potatoes (a dirty word these days) of being healthier: Eating Better.

Thank you for reading. For more lifestyle advice on how to achieve optimal health, visit The Chiropractic Health Centre for a check up

Chat to one of our friendly receptionists to make a booking or follow the link to learn more about our services: www.chiropractor.co.za/our-services

Phone: 021 683 2996 (Claremont) or 021 439 8898 (Sea Point)

Email: claremont@chiropractor.co.za

SIMPLE SALMON PATE


INGREDIENTS

1 tin red salmon 
100gms butter 
Juice of half a lemon
Seasoning 
Parsley

METHOD

Strain and remove bone and black bits from salmon. Add juice of half a lemon, melted butter and a good pinch of diced parsley. Mash well and serve in chilled egg cups. Top with sprig of parsley.

Focus Areas: Kenilworth & Claremont Village

Are you Stuck in a Fad Dieting Rut


People will often try ANY fad diet to lose weight.  A fad diet is any weight-loss plan that promises quick and easy weight loss (through what is generally an unhealthy, unbalanced diet).   Many people prefer to try the quick fix instead of making the effort to lose weight through long-term changes to their eating and exercise habits, even if they know that they are difficult to follow long-term and generally do not result in long-term weight loss.  Fad diets are popular because they give people the instant gratification of quick weight loss.

Why do they result in quick weight loss?  In most cases it is because they are low in calories.  When you eat less your body will initially still be burning the same amount of energy, so the deficit will come from your own body stores (but not necessarily the fat stores).  But as time goes on your body will adjust how much energy it uses in a day to be in line with what you are eating, and so the weight loss will slow.  This is generally when people start feeling very hungry, grumpy and energyless.  Your metabolism has now slowed down (i.e. your body is using less energy than before).   When you stop eating as per the fad diet and start with your old eating habits again your metabolism will not jump back to its original rate.  This is why the weight (plus more) comes piling back on.

It is easy to be seduced by the promise of quick weight loss, so how can we make sure we don’t fall for one of these fads? Watch out for these red flags which indicate that the weight-loss plan is possibly a fad diet:
ü  The diet promises fast weight loss.  Anything more than 2-4kg per month is generally considered too fast
ü  The claims sound too good to be true
ü  The diet’s recommendations seem extreme, specifically very excessive reductions in food, excluding or severely restricting food groups (carbohydrates being the most common), ‘good’ and ‘bad’ food labelling
ü  The diet has rigid rules
ü  The diet promotes ‘magic’ foods or combinations of foods

Your health can be damaged by following fad diets.  Long term fad dieters generally struggle with their weight for most of their life.  Because they are either ‘on’ or ‘off’ a diet their weight is constantly going down and up.  This yo-yo weight cycling is very unhealthy for the body and it increases the risk of chronic diseases such as heart disease, cancer, high blood pressure and osteoporosis.  Eliminating whole food groups can also cause nutrient deficiencies over time.  Diets that are high in protein and low in carbohydrates often lead to the production of excess uric acid and calcium oxalate, which can cause kidney stones or gout.  Energy levels are also often a problem with these diets.  And to top it all off, these diets play havoc with your head, making you focus on numbers as opposed to health. 

So how can you get out of the fad dieting rut?  The most important thing is to get out of the psychological hold of needing quick weight loss or wanting to weigh x, y or z.  Reassess your goals and look at why you want to lose weight.  Is it because you have an event coming up or because you want to feel better in your clothes again?  Or is it because you want to have good energy levels and not get sick? 

Once you have determined the why, you can start looking at the how.  The way that you eat should work for your lifestyle and incorporate the foods you enjoy and work well with your body.  What you eat should not make you miserable and feel deprived (although many people believe this is what it means to eat healthy).  Choose a good variety of low processed foods for maximum nutrient gain.  Eat regularly, starting early.  Eat lots of vegetables and fruit.  Learn what it means to be (body/ stomach) hungry and satiated.  Drink plenty of water.  Learn how to handle mouth hunger (eating just because).  Limit added sugar.  And don’t focus on the number.  If you can let the scale go you will be much more likely to get out of your fad dieting habits.

Kim Hofmann RD(SA)
Phone: 021 674 4666
Cell: 084 206 2715


BEING FICA-ED NOW MAY BRING SURPRISES



Over the past few years, South African consumers (whether natural persons or entities) have become used to ”being fica-ed” when we enter into certain transactions. We are not alone in this: our financial intelligence laws were promulgated after South Africa became a member of the Financial Action Task Force, an intergovernmental organization established on the initiative of the G7 countries, to develop policies to combat money laundering and terrorist financing in member countries.

The Financial Intelligence Centre Act of 2001 (the FIC Act) was thereafter finally adopted in November 2001 and became operational in increments from 2002 onwards. Some parts of the Act only became operational in 2010.

Important amendments to the FIC Act were passed recently, many of which kicked into effect on 2 October. The changes are substantial and require from accountable institutions (such as attorneys, estate agents, financial advisors, banks) to adopt a risk policy when fica-ing clients. The tick-box approach to collecting a set list of documents from clients (for example, the ‘usual’ requests for a copy of your ID document, proof of address and income tax number for natural persons) may no longer necessarily be adequate. Institutions much adopt a risk policy and in terms thereof, decide what they will require from clients in order to be compliant with their duties in terms if the FIC Act.

In addition to this change in approach to compliance, note:
  1. where a company, trust or partnership is involved in a transaction, the accountable institution must ascertain the identity of the beneficial owner of the entity. In layman’s terms this means the identity of the person who ultimately ‘pushes the buttons’ or who ‘has the final say’ must be ascertained; and
  2. where an individual is a client and that individual is a “domestic prominent influential person” (or close relation or family member of such person) or a “foreign prominent public official” as these are defined in the Act, increased due diligence is required and senior management approval must be obtained before one may do business with this person.

 Going forward, you can, therefore, expect changes when you are being fica-ed! Contact us on www.stbb.co.za should you require assistance or have questions