Accounting Diary

Top Secret of Total Asset Management Control

2011-12-20T12:59:00.000-08:00

The world over, very few asset managers are more concerned with proper asset management practices or finding the right asset management tools to track fixed assets for the purposes of financial accounting. In any given business or organization only two asset management extremes can be attained, and these are proper asset management practices and poor asset management practices. But like a

Online Education in Zambia- Courses ,Colleges and Universities

2011-11-28T13:05:00.000-08:00

Nowadays, to get access to education, you don’t have to spend several years in college and million of Kwachas on tuition fees. ALISON provides free online learning to users in Zambia. It is usually worrying and sometimes interesting to listen to the counts of desperate situations of “failures” in accounting field. It would appear like there is a just cause to fail to pursue accounting courses.

Solve Complex Asset Tracking Problems Using Simple Tools

2011-08-18T23:02:00.000-07:00

Prosperity Agencies understands the need to achieve accurate Tracking of Assets. The primary purpose of physical inventory in asset management is "To establish a current, accurate baseline of existing capital assets, accurate insurance payments, depreciation schedules, tax, compliance reporting and a host of other financial considerations.”In order to provide legal compliance, safety assurance

The Future of Smart Cards in Zambia

2011-07-18T00:25:00.000-07:00

For many of us, smart cards are now part of our daily lives. We rely on their technology to gain access to our office buildings and access and pay for utility services. But as smart card technology continues to evolve, there are still some more interesting new applications in the pipeline. A case in point: The Zambia Electricity supply corporation ZESCO was experiencing repeated problem of

Merchant Accounts-Why You Need One

2011-06-20T00:32:00.000-07:00

For years it’s seemed that while everyone acknowledges the importance of merchant account services, nobody except possibly merchant service providers- actually boldly talk about it. Part of this is because most bloggers hate to read on something they don’t really understand and are reluctant to comment. If you are just trying to figure out the importance of merchant accounts, just read on you

Will Zambia’s Economic Zone tick like China?

2011-06-12T23:15:00.000-07:00

Will the multi facility economic zones in Zambia enhance economic development in the manufacturing sector like in Beijing? Well, the success of the Zambian (SEZ) version is yet to be seen. Indeed, one key characteristic of any developed economy is that its service sector is more productive than its manufacturing sector, Zambia is decidedly still a developing economy. The pressure has been to

113 Accounting firms You Should Know

2011-06-05T22:50:00.000-07:00

Do you search everywhere for firms offering accounting services in Zambia? Start looking in the right place for professional accounting firms. Today, I want to show you a list of 113 professional firms I recently stumbled upon. These firms provide accounting and audit services at a fee. I will first start with the big four names in the accounting industry, these are members of the global network

MSEs Reporting Standard -Why Know it?

2011-05-31T23:05:00.000-07:00

Few if any business owners take a keen interest in financial reporting standard matters. Do you know anything about the newly launched financial reporting standard for MSEs? Recently, I had a conversation with a fellow accountant and it struck me that he was ignorant about this launch of the three tier financial reporting framework in Zambia. I think this is common nowadays as more business

The Most Critical Tax Issues in 2011

2011-05-16T05:01:00.000-07:00

The goal of this article is to outline critical tax matters that made headlines in 2010 and stirred up debate on a number of tax policy issues in 2011. Great thinkers have given wise counsel on the need to periodically look back at issues, to re look at our achievements, our shortcomings and then move forward with confidence. For me 2011 has been, on the whole, the year of Gods favour. However,

Make Money As a Software Reseller

2011-05-15T23:16:00.000-07:00

Thinking about how to become an accounting software reseller? In this short article, we will not just look at what software reseller programs to join, but share ideas on how to thrive to make money by selling software amid the realities of low-margin in small business software sales. Frankly, the days of being able to set up successful reseller business purely on the basis of re-selling

Where to Get Genuine Software Help

2011-05-01T10:41:00.000-07:00

Today, I want to talk about accounting software help forums, and how you can almost always use them to get free and genuine help as an accountant. As you probably know, a great way to achieve any goal in life is to look at people who already accomplished similar things, and then analyze how they did, learning as many lessons as possible If you want to get the most from your accounting software,

Don’t Use a Tax Agent Until You Read This!

2011-04-27T23:04:00.000-07:00

An accounting package is a useful tool but believe it or not, it won’t make you a tax Accountant. If you don’t have any bookkeeping background, you may decide you want to use a tax agent to prepare and lodge your tax return. Are you thinking of appointing a tax agent to deal with your tax matters? Just read on, you will learn about the pros and cons of tax agency. Undoubtedly, tax authorities

A New Approach to New Software

2011-04-21T03:33:00.000-07:00

Let’s face it, everyone is looking for New Accounting software, nobody wants to miss out the benefits of new ERP software upgrade or get stack to an old and outdated program. However, this does not diminish the value of having the ‘older’ working software version. In this topic, we look at the factors you must critically consider before making a decision to upgrade to the new version of any

What is the Most Popular Freeware?

2011-04-18T03:29:00.000-07:00

Many enthusiasts regard freeware accounting software as their best software, of course favored by the completely lack of cost and free download in addition to lots of other features. Let’s consider this question received from our reader, “Which is the best freeware accounting software I can use to manage my accounts?” So wrote this keen follower of this website. Well, have you been plagued with

The Worst Loss in Business Today

2011-04-11T06:01:00.000-07:00

The loss of Business data is one of the most devastating experiences any business can face. At times, this data loss may be unbearable.For many years, accounting was just a manual process of hand written entries in journals and ledgers until the first “packaged” software -spreadsheet, word processing and database became available. Since then, data accounting systems and software have evolved at

Use Correct Exchange Rates to Avoid Loss!

2011-03-28T03:17:00.000-07:00

Exchange rates are something you typically pay attention to when processing foreign currency transactions in your accounting package.In Zambia today, businesses that have never dealt with any currency other than the ZMK Zambian Kwacha must contend in one way or another with exchange rates for Euros, Pounds, Rand and US dollar.In simple terms, if you want to exchange Zambian currency for that of

Do We Really Need Software Advice?

2011-01-03T23:38:00.000-08:00

If you are a Software genius, getting software advice probably isn’t such a big deal. When asked whether a named ERP software is valuable and sensible, I guess you would do your own evaluation without hesitation. But most software buyers still need outside advice regarding the value of any tailor-made accounting, networking and communication solutions.In this article, I want to give you the key

The Easiest Way to Process Payroll

2010-12-30T04:02:00.000-08:00

Few Accountants have to contend with more speedy demands on their time than Payroll Accountants do. Payroll accounting demands are innumerable. A payroll accountant must take care of calculating earnings of employees, calculation of payroll taxes such as NAPSA, keeping track of employeeleave taken and loans and advances availed as well as fridge benefits like paid vacations and insurance

Will APRM Stop all “Corporate Games”?

2010-12-29T02:23:00.000-08:00

To say that Poor corporate governance is the principle cause of all corporate challenges in Africa implies that there would be few corporate “criminals” if corporations acted as good corporate citizens with regard to human rights, social responsibility and environmental sustainability. Is this argument feasible? Could we eliminate all corporate criminals out of business especially the new breed

Is Free Software Reliable?

2010-12-12T22:24:00.000-08:00

The advantages associated with Accounting Software include efficiency, reliability and accuracy. Yet, many times, free software “lovers” disregard software reliability and focus primarily on the cost benefit. So, one might ask, ‘What is the reliability of free Accounting software?’ If you are here, it’s probably because you asked this same question.Well, despite these concerns about free software

The Solution to Multi-Currency Problems

2010-12-09T04:14:00.000-08:00

Do you care about multi Currency Accounting problems? If so then perhaps you have asked these questions; Is it possible to keep business accounts in different currencies? Is it necessary to have multi currency accounting software when a company has accounts in more than one currency?In the work of globalization and outsourcing, business people have a need to conduct their businesses in foreign

Finding a Better Accountant

2010-12-07T03:33:00.000-08:00

Today, Businesses of all types need an Accountant. Therefore, it is logical to assume that the choice of your Accountant can help you find success in your business. But how do you find a good Accountant? Here are my suggestions to help you find a good Accountant you can really be proud of.Have you ever heard of this widely view among non-Accountant colleagues that “Accountants jealously guard

Access Better Business Ideas in 2011

2010-12-02T03:57:00.000-08:00

If you struggled to get better results in your business in 2010, it might be helpful to ask yourself: Did I have access to better resources that could improve matters? How does access to information influence my financial and social well being and how can I transform my small business ideas into opportunities in 2011?Well, the idea that business people need to access various sources of

Tax Prep Tips to Avoid ZRA Problems

2010-11-17T21:55:00.000-08:00

In this digital age, it’s now possible to prepare and file Tax Returns electronically; however, the physical filing continues to be popular among most Tax authorities including ZRA. Therefore to avoid Tax problems and disputes with ZRA, here are the Tax preparation tips you must keep in mind when preparing your Taxes.Always use the correct Taxpayer Identification number (TPIN)Tax payer

Free Proven IFRS e-learning Modules

2010-11-16T03:59:00.000-08:00

There is growing interest in e-learning from all displines. Today, e-learning technology is being utilized to meet learning and teaching needs in many organizations. Just recently, the Zambia Centre for Accountancy Studies ZCAS launched its e-learning platform.Despite the growing interest and the success scored so far in Zambian e-learning programs, and in the other parts of the world , it is not