Friday Tip 8 Sep.mp4

Post-COVID, everyone has moved to Credit and Debit Card as modes of payment. Entrepreneurs and SME's should now on a monthly basis do their Credit Card Reconciliation the way they have been doing their Bank Reconciliation.

Most of the business owners have given either Company Debit Cards or their personal Credit Cards to the Staff members for the purchase of office Supplies.

To claim VAT and under Corporate Tax - a copy of the Bill/Invoice is very much required.

One thing we have noticed is - while Owners are "aware of the expense taking place", but the purchase bill or the invoice is "not reaching the Accountant". These entrepreneurs are sharing with us copy of the "Credit Card Statement".

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