final

“Gross income
increase of
R 248 173.64
with the highest
income recorded
in July 2015 of
the amount of
R 70 538.50”
Overview
Strategic Highlights
Late payments from clients was in some sort an issue through the year. These overdue
accounts are what the National Credit Act (NCA) defines as “incidental credit agreements”.
They’re called “incidental” because the interest charged becomes due only if client fails to
pay for the goods and services after a certain period of time, usually 30 days.
According to the National Credit Act (NCA) we can charge clients a 2% interest every 30
days after invoice payment due date. Only if stated so on invoice and quote, if no
percentage was stated we can claim a 1.29% every 30 days after invoice payment due
date. Furthermore it is advisable to add a 10% discount to invoice if paid within a certain
time frame, the 10% discount amount will just be added on top of the actual amount of
invoice. Although this is a great motivation for clients to pay in a set time frame it also adds
in admin hours.
The general fees covered by departments has increased. In the past financial year
department’s overdraft amounts, because of these fees, has accumulate drastically and
end up weighing on either one or two of the departments. It is advisable to leave a set
amount within in the bank account in order to cover all these fees.
Financial Highlights
There has been a significant increase in the financials in comparison with the previous
financial year as well as throughout this financial year. Gross income increase of
R 248 173.64 with the highest income recorded in July 2015 of the amount of R 70 538.50
Another amount standing out is salary increases of R 169 590.52
Operating Highlights
During this financial period Web Development and Graphics as well as Project
Management (started off as events) has been more active in a constant manner whereas
Arts and Drama has come part for a short term and Architectural and Interior Design’s
transactions decreased in comparison to the previous year. Todoist was introduced to us
and is already keeping our finger tips on top of all projects. Managing projects through
Todoist has saved up more time and has shown sufficiency.