Ledger Logics Services

Ledger Logics Services Ledger Logics Services is a locally established firm that provides wide range of Accounting and Consultancy Services to individuals and SMEs.

18/01/2018

NEW PAYE BANDS

Following the implementation of the Finance Act 2017, new tax rates for Kenyan PAYE come into effect from January 1st 2018. Hence submissions for January 2018 payroll should reflect the new rates. This implementation comes just one year after a similar PAYE rate change was effected at the start of 2017. Further reading on the rates can be seen in the businessdaily and this PWC analytical article.
Below are the new monthly tax bands:
Monthly Bands of Taxable Income (KES) Tax Rate
0 – 12,298 10%
On the next 11,587 15%
On the next 11,587 20%
On the next 11,587 25%
Over 47,059 30%
Personal Relief: KES 1,408.00 per month
Minimum Taxable Income: KES 13,486.00 per month

18/01/2018

It's that time of the year again where we have to file our returns with KRA, We do it at a reasonable fee

09/11/2017

Ledger Logics Services is a locally established firm that provides wide range of Accounting and Consultancy Services to individuals and SMEs.

09/11/2017

Three Tips to Reduce Bookkeeping Cost
It doesn’t take long for bills to mount up when you’re running your own small business or startup. The good news is that this doesn’t have to be the case for your bookkeeping expenses. This month we’ve consulted with our top bookkeepers to bring you the below three tips on how you can reduce your bookkeeping costs so you can get back to spending money on growing your company.
Be Organized
Whether you are paying your bookkeeper an hourly or a fixed fee, being organized is the most important tip and one which will not only save you time but also money. Bookkeepers can only work with the documents you give them, so the more information you have on each transaction the better. If you pay a bill, make a note of all information relating to the payment including payment date and method (particularly if you have more than one account/credit card). Only providing the bookkeeper with the invoice and not the payment receipt means they will not be able to enter this payment until it shows up in their cloud accounting bank feed or your monthly statement. In some cases it might help to ask your bookkeeper how they want you to present information to them on each transaction. Ultimately, you want to get to a point with your bookkeeper whereby they have all of the information they need to keep your books up to date, which requires you to be organized.
Open a Separate Account For Your Business
Using a business account for personal payments will leave a complicated trail of transactions for your bookkeeper to figure out and cost you more money. You should always have separate bank accounts for your business and your personal life. What’s more, if you are paid in cash by a client, don’t be tempted to keep some of that cash for yourself. Depositing cash into the correct business account straight away will save your bookkeeper time when trying to match deposits.
Store Your Documents in a Document Management System
Save yourself time and postage costs by utilizing a document management system. Instead of filing receipts away in a shoebox and posting them to your bookkeeper when requested, now you can take a picture of your documents (receipts/invoices etc.) and upload them to a cloud based document management system. This allows you to securely save a copy of your important financial documents which can then be accessed by you at any time. There are many great document management systems on the market including Drop box and Smart vault.

23/10/2017

How to Choose the Best Accounting Software for your Startup
Choosing the right accounting software for your startup does not have to be complicated. Although there are many software vendors on the market right now, by following the below tips you should be able to reduce your list of options to a definitive few. To help you in the process of choosing new accounting software we've put together a list of 4 steps you should take before making your final decision.
Step 1 - Ask Yourself Questions:
Asking yourself the following two questions before beginning your research will help steer you in the right direction. Along with this it will allow you to create a short list of software vendors who match your criteria.
1. How much am I willing to pay?
Depending on your budget, you should decide at the beginning how much you are willing to spend on new accounting software. For example, at this stage if you realize that your budget can't accommodate a paid software solution you might choose to go with a free version such as Wave or GnuCash. Wave is free to use for accounting, invoicing and receipts although payroll is not included in this option. GnuCash allows you to track bank accounts, stocks, income and expenses and is freely licensed.
2. What features do I need in accounting software?
You'll need to take a hard look at your business' specific needs to figure out which ones are must-haves and which you can do without. For example do you manage a lot of inventory? Is project management and time tracking something you need help with? Does your invoicing process need re-evaluation? The must-have features you decide on will dictate how you research and decide on your new accounting software.
Step 2 - Ask Around:
Don't be afraid to ask other startup owners what their accounting software preference is. They will have firsthand advice on what vendors offer the best solution and how it's benefited their business.
Step 3 – Try Before you Commit:
Once you've been able to draw up a list of possible choices you should attempt a free trial of each before making your final decision. This will allow you the opportunity to play around with the software and get a feel for how easy it is to use and whether it fulfills all your requirements. Most accounting software solutions offer a free trial if you sign up onsite, if you come across one which doesn't don't be afraid to reach out and ask whether a free trial is an option for you.
Step 4 – Consult Your Accountant:
Before making your final decision on which software to integrate into your business, you should consult your accountant or bookkeeper. They will be experienced in using various types of software and can advise you on whether they feel your choice will suit your business' and their specific needs. They can also steer you away from a solution which might seem like a good fit but is a poor performer.

Address

62897
Nairobi
00200

Opening Hours

Monday 09:00 - 17:00
Tuesday 09:00 - 17:00
Wednesday 09:00 - 17:00
Thursday 09:00 - 17:00
Friday 09:00 - 17:00
Saturday 09:00 - 01:00

Telephone

+254 0711251790

Website

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