Go Formal: It’s Time To Outsource Your Accountant

Dear entrepreneur, congratulations for a good take off! You are building a business that stands equal chances of survival and failure. In this column, I wish to discuss the survival side. That side of the coin that bears your portrait with your head wearing the heavy crown of responsibility. While you sell and drive operations, do not forget to formalize your financial reporting and management procedures. Professional management of finances is good to the entrepreneur, second parties like employees and third parties who include suppliers and the taxman. You also have the advantage of technology to automate most of your accounting procedures under the supervision of a competent accounting firm. My notes in this column will highlight the advantages of outsourcing an accountant over hiring them. For smaller companies, outsourcing is the way to go.

The first advantage of having an accountant in your business is professional management of your books. This saves you from losses that would otherwise arise from inefficiencies of financial management. Such losses include tax penalties on late filing, high cost of debt and bank overdraft where loans are not properly planned for. Losses due to lack of running bank statement analysis and reconciliation of cash books with bank statements, poor asset management, lack of financial reports to inform management decisions and disorganized records for lack of proper librarianship of financial records will also be corrected by a good accountant. Other advantages of outsourcing your accountant include cost saving, access to business intelligence through advisory and adoption of automation technologies like QuickBooks and Tally Prime in managing financial records.

iGrand Business Plans Limited is a firm led by a team of certified accountants who are willing to help you set up an accounting department. The team brings the best of both worlds from tech and finance into your business to formalize reporting and financial management. You will enjoy a better relationship with the revenue collector as your accountant will take up the role of managing your tax portal and handling tax related correspondences in a more professional manner. Other than accounting, you will benefit from business consultancy in areas such as maintenance of your company in the ecitizen portal, short and mid-term business planning and compliance with sector regulators. Your accountant compliments you from the other side of the entrepreneurship coin. To access outsourced accounting services from iGrand Business Plans Limited; send an email to relations@igrandbp.com to get a service quote.

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Of all land animals, the wolf has the strongest supernatural powers and is the most accomplished hunter. The native wolf represents loyalty, strong family ties, good communication, education, understanding and intelligence. In business, the strengths of an alpha wolf are needed to create value for buyers of services. Real Estate is one such sector where buyers of properties need the loyalty of a wolf, intuitive knowledge of the property on sale and great communication skills by the selling agent to influence one to make a buy or rent decision. These same values earn you wealth when put to work. In the words of Jordan Belfort (Author – Way of the Wolf), “Without action, the best intentions in the world are nothing more than that: intentions.

Nairobi’s property market is gifted with a Wolf. In one intentional man who plans and takes action, the bar of real estate brokerage in Kenya’s Capital is being raised and the experience of buying property becomes more fulfilling. The man is Realty Boris and his team of young yet endowed with the supernatural abilities of a wolf in getting properties sold on their value proposition. Realty Boris is already a household name in Nairobi’s property market. The firm specializes in the sale and marketing of residential developments and leads the industry in brokering at least fifty deals annually of Nairobi’s largest residential sales. Realty Boris displays an extensive portfolio of property to clients through their vibrant digital media platforms and through walk-through tours on location. The firm is located right at the heart of Kilimani on the first floor of Timau Plaza on Timau Road a few meters opposite of Yaya Centre.

Mr. Boris, “The Wolf”, leads realty Boris firm. Boris is a top real estate magnate who holds a Bachelor degree in Human Resource Management. He has an extensive client base featuring those who seek a luxury city lifestyle including titans of industry, celebrities and foreign investors. Boris has closed several of the highest priced sales in Lavington, Kileleshwa, Runda and Kilimani. His properties have also been featured in Kenya’s top television and YouTube Channels. While selling property, Boris is dedicated to enriching the profession, where he is often hired for property launches and groundbreaking ceremonies in upmarket Nairobi. Boris is a wolf in making and members of his firm exhibit similar values. He lives and demonstrates the strengths of a wolf in his art of selling.

Parklands’ Ideal Institution For International Schooling – Ar Risalah Academy

What key considerations do you make when selecting a school for your child? Parents may have different preferences but none is willing to compromise on the quality of education and moral upbringing of the child. In Nairobi’s Parklands area, a group of visionary mothers joined hands to create the best environment one can ever get in a school. They founded Ar Risalah Academy on pillars of Islam values. At the foundation stage, Ar Risalah Academy offered pre-school and the Cambridge International curriculum for grades 1 to 6. Year 6 class of the academic year 2021/2022 registered a remarkable mean grade of 4.4 out of 6 points where 8 out of 9 students 3.5/6.0 and above. The school has a new premise at General Mathenge Road where the Reception Graduation Ceremony for 2021/2022 was held on July 15th of 2022.

With such remarkable success, Ar Risalah Academy is making another milestone by opening doors to high school learning for the internationally recognized Cambridge curriculum. The high school will also be in Nairobi’s Parklands area and shall be the hub for holistic education aimed at nurturing leaders. Ar Risalah Academy High is already admitting students ahead of the September opening. State-of-the-art amenities and equipment for learning are sufficiently provided to ensure learners get the best while schooling here. Your child gets ready for university education in a high school that is established on pillars of academic excellence, holistic upbringing and a cultivated discipline of leadership right from the schooling age. In my submission, Ar Risalah Academy High is the ideal institution for international schooling for children living in Parklands, Riverside, Westlands, Pangani and neighbouring residences.

The vision for Ar Risalah Academy High is to be an academic institution of choice providing world-class, integrated, holistic and excellent education. This will be achieved by building upon the values of the school namely compassion, responsibility and excellence among learners, staff and different sets of stakeholders. The success of this vision is being driven by investment in specialized teaching of an internationally accredited curriculum, leveraging modern technology to make learning convenient, deployment of highly qualified teachers and inclusion of extracurricular activities in the school program. For enquiries about admissions and different queries regarding enrollment in both the primary and high school, contact the admissions office at +254 729 292 564 or connect with the school on social media platforms for updates and community building.

Business Systems That Win By EinsBrand Digital

In May 2022, iGrand Business Plans Limited launched Dira La Biashara App 1.0 as part of its commitment to democratize access to business support services. The App has so far been rated as user-friendly, navigable and with real solutions for anyone in business, working or aspiring to be either. In this month’s column, I would like to use this space to give credit to EinsBrand Digital. The agency that supports website, Application and Systems development at iGrand Business Plans Limited. EinsBrand is the agency behind the beautiful brand that iGrand is becoming. It is Gideon, the Creative Lead of EinsBrand who thought through the whole process of designing and developing the Dira La Biashara App.

Whether you have already started the entrepreneurship journey or are planning to start, the first thing you will want to do is to be recognized by a brand and to be found on digital media platforms. This requires a combination of skills to achieve winning results. You will want intelligence to be communicated in art and ideas to be visualized. First, you need a brand architecture that will help you conceptualize the brand you are about to build, or the website, system or application. Concept building is a work of art and the artist must be creative enough to help your brand stand out. Second, you need a designer who can visualize the concept in a drawing before the developer picks up the work of making your website or App. At EinsBrand, these skills are present in one team and they have a proven record of handling clients professionally and with a great understanding of branding and website needs of different categories of businesses.

iGrand Business Plans Limited has an existing working relationship with EinsBrand Digital to help customers implement their Social Media, App and Web presence strategies. This relationship thrives on the need to have marketing plans, web, App and systems plans built by iGrand Business Plans and implemented by EinsBrand Digital. EinsBrand Digital has previous and current customers from different industries and has successfully helped brands to grow from scratch to wide recognition. Save the contacts for EinsBrand Digital in your phone or mailing list for business correspondence, referrals or related queries. Reach the Creative Lead via gideon@einsbrand.digital or connect via social media platforms. EinsBrand is also available on WhatsApp business via +254 732 338 840.

The Checklist For Choosing Your Next Home

What questions do you ask yourself when buying chocolate or a favorite snack? Are you fascinated by the colour, packaging, taste and how it is displayed in the candy shop? At what point do you evaluate the prices? How do you feel when you try a new brand that is highly priced but delivers little or no satisfaction? Your answers are not different from mine. In my explanation, a rational person is a utility maximizer. This is why we sometimes find ourselves moving from one shop to the next to just get a pair of black leather shoes. When looking for a home to buy or rent, the work of moving from one property to another could be tedious and without sufficient advice, it may not help the buyer to make a decision. This is why you need an advisor you can trust. One that listens to your specifications, offers the best advice and helps you to meet your goals.

When choosing your next home, you need to have clear priorities on what you want in a house. You will first need to know what the market is offering in terms of available standards and prices. Market prices are often determined by forces of demand and supply. This means that prices will go up when there are few houses available and a high number of willing buyers. Secondly, scrutinize the property thoroughly to grasp a full understanding of it. This works best through an inspection that can be done physical or virtual on a video call. Get to know hidden expenses that may arise and how well it suits your taste for a home. The third box in the checklist is an appraisal of market price in comparison to the price given in a valuation report. Look at comparative sales in the area, affluence of the location, legal description, improvements made and land use.  It is also key to investigate the title and transaction documents of the property and check for government regulations affecting the property. Government regulations maybe inform of zoning forest areas, flood zones, road reserves and compliance with construction regulations.

Fairview Realty is a Nairobi based firm that understands how real estate brokerage functions. It has brought creative property marketing through clarity of communication, building on a tradition of trust and putting the customer first. Reach Fairview Realty via +254736579665 or on social media platforms and their website; www.fairviewrealty.co.ke.

Eruko Sacco: Deepening Financial Access In Turkana County

Availability and equality to access financial services is key for development of grass-root economies across the country. Access to timely, appropriate and affordable financial products and services promotes financial inclusion which is a key enabler for growth of businesses and for personal development of individuals. In Turkana County, Eruko SACCO Limited is on the frontline to register members, mobilize savings and pursue economic opportunities in the agribusiness sector to maximize returns for members. The SACCO which has its offices in Lodwar town has seen its membership growing overtime and is now present in all the seven sub-counties of Turkana.

The Vision of the SACCO is to be a leading community empowering organization through initiatives that promote sustainable and diversified livelihoods. Eruko SACCO is regulated by the Sacco Societies Regulatory Authority and is governed by a board of nine directors who are elected in an AGM. To execute its mandate of economically empowering its members, Eruko SACCO engages in bee-keeping and production of honey for sale, manufacturing of soap and detergents from natural aloe-turkanensis plants that grow in Turkana County and advancing loans to its members.

The SACCO is on a continuous membership recruitment exercise. For one to become a member, an application form must be completed and submitted to the secretary of the society. Ordinary members are required to pay Kes.500 to join while membership by prescription can be attained by paying an entrance fee of Kes.10, 000. Upon admission of an ordinary member, a monthly savings of at least Kes.500 shall be required from members. Members can access loans twice their Savings after a six months period of consistent saving. Loans attract an interest rate of 12% per annum and must be guaranteed by a member of the SACCO.

Eruko SACCO is a true vehicle for development in North Western Kenya and its impact is being felt right from the grass-root level. The SACCO has strategic partners supporting its development and has enjoyed stability thanks to good leadership. Start your journey of saving and unlocking economic opportunities together with likeminded people by joining Eruko SACCO. Contact the SACCO via erukoinvestco.ltd@gmail.com or call +254 718 250 315 for enquiries at Eruko SACCO.

Do I Need An Accountant In My Business?

Bigger companies set up accounting departments which are fully supported to execute book keeping, recording of transactions, reconciliation of books and preparation of financial statements consistently and continuously. They also set up control mechanisms through policies that govern the management of resources, procedures for resource utilization and a calendar for performing functions such as budgeting, large scale purchasing, stock taking and reconciliation of bank statements. Internal audit teams are also key in helping the accounting department and other personnel involved in operations to adhere to policies of your business regarding financial management.

Regardless of size, the accountant for your business should be competent enough to understand the Generally Accepted Accounting Principles (GAAPs), International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and for public institutions and bodies; your accountant should have the full knowledge of International Public Sector Accounting Standards (IPSAS). These set of policies will help in creating a business whose financial reporting is of good quality and reliable for use in decision making by owners, managers, the tax man and the strategy team. 

While it is desirable to all entrepreneurs that they organize their books of accountants professionally, it is also important to note that hiring an accountant may not be affordable to many small and medium-sized entities. These implies that alternative routes to the Promised Land should be employed. The first route is installing accounting software in the computer of a staff member in charge of operations or administration where an accountant is absent. Accounting software such as QuickBooks, Sage, Tally and SAP are easy to use given proper training to your staff members. Second, train your staff to accurately capture data and to conduct librarianship for your accounting files for easy retrieval. You also need to train your staff on how to navigate the KRA itax portal, how to prepare budgets, how to do bank reconciliations and how to run ETR receipts. Training works well for a fairly big staff of at least five people. For smaller companies, the best option could be outsourcing a firm that can perform tax advisory, bookkeeping and financial management at a fee. iGrand Business Plans Limited is one such firm and your accountant is reachable via okinda.p@igrandbp.com.

Elegant Fashions By Jemmy’s & Young Selection

As a little boy growing up, I remember looking forward to holidays away from school. There was so much to be eager about when the festive season of Christmas began. I knew it was the time to meet my cousins on safaris that had been planned for a long time. Other days my grandfather would slaughter one of his turkeys and invite his large family to feast. We also recited Christmas carols and made presentations in church during a Sunday school service. Such are the memories of December holidays from my days in primary school. It’s a time for refreshment to both young and old. Savings of the year would be spent by adding new pieces of clothe to the wardrobe and attending events of the season. In one of my favorite travel destinations, Turkana County, Tubong’ulore cultural celebrations are opening the chapter of a December holiday in North Western Kenya. A lot more will be happening and each of these celebrations call for different tastes of fashion.

In Lodwar town, one of the best boutiques I have ever visited is run by an entrepreneur who stands out through her ability to bring to the market products that are current and relevant to buyers. Jemmy has been in the fashion industry for more than a decade and her Lodwar shop is well stocked with pieces of clothes for all age groups. Her shop, Jemmy’s and Young Selection, is a gallery of everything fashionable. She also sells cosmetics, bags and shoes. Her customers get an opportunity to walk through aisles in her shop choosing for themselves from a variety of products that are on display. Decency and dignity can be earned from how we groom. This is why you need to always dress for your next occasion. If you are going to work, dress for the job. When your children are reporting to school ensure they have school shoes that befit them. At Jemmy’s and Young Selection you have an opportunity to do your window shopping before making your purchase. Visit Jemmy’s shop along KCB road from Lodwar prisons roundabout in Lodwar town for endless varieties of elegant fashions. Jemmy’s and Young Selection is also on Facebook, Twitter, and Instagram and on WhatsApp via 0727309111.

Secure Your Premises With Idar Group Security Services

Security is one of the most critical components of our socio-political and economic environments. Security is however not a product, but a process of continued reduction of the likelihood to lose your valuable items.  While social and business goals maybe distinct in many respects, safety and security remains a common concern to both an estate owner and a commercial institution such as a construction site, school, hospital and administrative office of an organization. While at home, try simple measures to enhance your security such as getting a security system, posting security signs, lighting up your home exterior, testing your windows, and installing security cameras.

At times you may have limited knowledge about the right security measures that you should take. This is common in the initial stages of identifying safety and security risks. Anytime you are in such a situation, it is advisable that you seek advice from a credible consultant on security issues and develop a plan to implement mitigation strategies. Idar Group Security Services is one such partner that is fully capable take care of your safety and security needs. The firm has a wide range of services that include car tracking and private investigations, perimeter and intrusions detention, electric fencing, security lighting, alarms, and CCTV installation, security installation, security gates and signage, entry and exit security logbooks, and a 24-hour operations center. Other services offered by Idar Group Security Services are mobile patrols inside and outside of your premises and transit security when you are shipping personal items.

When finding a firm to provide you with security guard services, you need to be particular about the training of those guards and their professional conduct. Go for a firm that meets international standards of security service delivery to take care of your life, community, and business. The right service provider in security terms will also build a relationship with you. They will value your safety and take the job of securing you with the seriousness that is required. To get in touch with Idar Group Security Services, visit the firm’s website, idargroupsecurity.co.ke or search them on Facebook. For more queries about security and safety, talk to these experts directly via +254 721 630 462. You have enough reasons to make security a part of your everyday lifestyle with Idar Group Security Services Limited.

Mineral Water Bottling At The Turkwel Gorge, Lodwar

Lodwar is the administrative capital of Turkana County in North-Western Kenya which is characterized by moderate to high temperatures throughout the year. When driving on the roads of this vast county, you’ll meet epic scenes of hills, semi-desert vegetation, cluster settlements, and goats enduring the heat and sun that falls in this semi-arid region. The lands of this sunny countryside are split by great rivers and borders the shores of the world’s largest desert lake. When touching down at Lodwar Airport, you’ll see the magic Turkwel River flowing across the town. This is a scene to behold for a lover of nature. By the time you land in the town and begin your stay there, you’ll be feeling the heat and your body will be in need of constant hydration. This experience inspired the establishment of Kanan Mineral Water Limited that harvest, purifies, and bottles water for human consumption.

The factory sits on a big aquifer known as the Turkwel Gorge. Waters from its ever running wells are mineral-rich and highly recommended for human consumption. Purification of water is done in the Lodwar plant right from harvesting through the processes of sedimentation, filtration, reverse osmosis, ultra-violet treatment, ozonation, bottling and branding. Packing of water bottles for distribution is also done at the factory and each bottle is sealed to protect consumers from counterfeit products. Kanan Mineral Water is distributed widely across Turkana County. Its waters have a pleasant refreshing taste that keeps one alive throughout their stay in Lodwar.

Choosing to consume Kanan Mineral Water is not only a choice for quality water but also an endorsement of Made in Turkana products. The community at Kanan area where the factory’s acreage lies benefits from free mineral water by the factory through a tap installed at the gate. This has transformed lives of the factory’s immediate neighbours and has made Kanan Mineral Water a strong brand among both locals of Turkana County and visitors. Entrepreneurs behind this business are committed to ensure the water is natural, safe, quality and affordable by all measures and standards in the land. For me, it is the imagination that an aquifer exists in the semi-arid Turkana County and the reality of actually drinking purified water from it. I have many reasons why I love visiting Turkana and drinking Kanan Mineral Water is one of them.