Opinion: All Kenyan businesses should to now process KRA payments online

We used to love queuing and doing things last minute. Not any more. New habits are with us!

Haven’t we learned a lot? At least I can speak for my circle of friends and I suspect the same for most Kenyans. Indeed, comfort is a killer.

Staying indoors has taught us to take advantage of what we’ve got in our hands. Got Internet? Then your business should process KRA payments online and waste no time. Read that again!

Why? Simply because you can. I highly suspect we won’t be visiting the tax centres anytime soon.

Actually, Standard Chartered Bank has made it easier for businesses so that we won’t have to ‘pet the peeves’. Standard Chartered Bank is directly integrated with KRA and this makes KRA submission real time. This, through the Straight2Bank online platform. It’s an online banking platform designed for all your business transactional needs.

All you have to do is set up KRA once and you wont have to memorize the account again.

You can pay your Excise, Service and Direct taxes online. Your account is automatically debited and you receive an acknowledgement immediately.

Besides that, you can stay safe and work from home with more features such as simple payroll processing, simple FOREX transactions, simple bulk payments, reports and alerts and it’s all secure.

Why don’t you try it for your business? You want to meet your legal obligations, don’t you?

To learn more, visit https://www.sc.com/ke/business-channels/straight2bank/

Process KRA Payments online
Process KRA Payments online

When your petty cash department has to work from home: Tips and tricks to stay safe

When most of us think of the petty-cash department, we tend to think of straight-faced persons seated behind a desk in an office, dealing with piles of paperwork and always counting money. A petty cash accountant working from home without face-to-face meetings or paper exchanges hasn’t seemed possible …until now. Times have quickly changed.

Because of this hiatus occasioned by the uncertain times that we’re going through, doing petty cash accounting by working remotely has been made possible by technology. A lot of businesses are still nervous about it and that’s natural because they might not know how to go about it. However, all that’s needed to be known is what tools can make this work paperless and away from the office.

Here are some hacks.

Face to face meetings
Most interactions with these accountants tend to be impromptu rather than scheduled. There’s no difference in a remote setting other than using phone calls or video conferencing tools. No need for a conference room! It’s just as easy to have impromptu meetings using Zapier as it would be in any office. You could also set up a Zoom meeting and share the link in your Slack channel and you can have that same sort of spur of the moment meetings, as long as all the participants are online at the same time.

Work
The accounting aspects of working remotely for petty cash accountants are not much different from working in an office. There are still weekly meetings, collaborations, month-end reports and payment approvals.

There are a lot of cloud-based apps but we’ve found an innovative way to manage petty cash payments provided by Standard Chartered Bank through their award-winning platform called Straight2Bank

Straight2Bank and Petty cash

The platform is an online banking platform designed for all your business transactional needs. At the moment, we are advised to stay away from physical cash (coins and notes) and naturally, we’re embracing alternative means to do banking.

To make the petty cash disbursements, all you have to do is list all the mobile numbers and amounts to be paid on an excel sheet template. Load this on Straight2ankB and click pay. For added security the payment goes through your organisation’s internal approvers.

Working remotely may seem like a foreign concept in the petty cash accounting world, but when you’re set up with the right applications, it’s totally achievable!

To learn more, visit https://www.sc.com/ke/business-channels/straight2bank/

Bulk Payments Standard Chartered Bank
Bulk Payments Standard Chartered Bank

 

Payroll as you work from home: How Kenyan businesses should take advantage of this award winning platform

Payroll jobs involve executing procedures to ensure all employees of a business receive correct compensation on the correct designated calendar days. Depending on the size of the business, an owner may have in-house payroll personnel or outsource this task.

The people in charge of payroll are responsible for gathering and organizing certain employee information. This information includes salary amounts, hourly wages, the number of hours worked for each pay period, and any recorded time off for each employee.

These tasks have now been simplified, especially because we’ve now been encouraged to work from home and stay safe.

One of the banks that has successfully filled this gap and enabled thousands of businesses to ensure continuity through innovative solutions is Standard Chartered Bank through the award-winning platform, Straight2Bank

This online banking service enables organisations to process payroll conveniently in the comfort of your own office or home. Basically, wherever you can access the platform.

It adds convenience because the online payroll processing is not limited to employees with Standard Chartered Bank accounts. You may also process payroll for employees whose accounts are with other banks.

Besides providing simpler salary administration, Straight2Bank allows an organisation to exercise better management of accounts by enabling convenient, fast and easy access to all their accounts, anytime, anywhere.

You can also customise the way you wish to view your statements with the option of downloading your transaction history in PDF or CSV format for easy retrieval. Within the platform, you can download cash management reports at your convenience.

Your salary processing easily & efficiently from wherever you are through Straight2Bank online banking service.
Your salary processing easily & efficiently from wherever you are through Straight2Bank online banking service.

Join the thousands of businesses that have discovered how to take advantage of Straight2Bank, the award winning platform. Visit https://www.sc.com/ke/business-channels/straight2bank/ to learn more!

Discover Straight2Bank: What it means for your business as you work from home

Alternative banking is the in-thing for businesses right now as we experience uncertain times. All organisations are keen to manage this unforeseen disruption and to stay afloat, each is undertaking a set of unique measures. These include having employees work from home, migrating tasks online such as meetings, interviews, finance and accounts, operations et cetera.

However, when it comes to business banking, there are very few options in the market that provide fully integrated solutions for organizations to take advantage of online platforms.

The most comprehensive solution that exists in the market is Straight2Bank from Standard Chartered Bank. Unmistakably, this platform has now become a yardstick for other banks and the fact that it has become the most popular platform for businesses both large and small is evidence of its superiority.

What exactly is Straight2Bank?

The platform is a fully integrated online banking service for business transactions, hedging and information needs with a customisable suite of tools. It is carefully designed for all business transactional needs.

Straight2Bank facilitates comprehensive management, giving businesses easy access to key functions such as trade, payroll and foreign exchange transactions. Organisations can also set up custom access and control within the platform which includes employee access levels, customised payroll templates, personalized account alerts and more.

The platform also allows businesses to process their KRA payments online and in a simple way. Standard Chartered Bank is directly intergrated with KRA and this means all payments are processed realtime.

Bulk and mobile payments are facilitated in a simple manner. This involves using an excel sheet template to list all mobile numbers and amounts to be paid, uploading it to Straight2Bank and click “pay”. This function is secure in that the validation of these payments goes through the organisation’s internal approvals

For users needing help on the platform, there is a dedicated support team. They provide online support services to businesses you solve and problems they may face when using Straight2Bank.

Given the current government directives designed to facilitate businesses, all charges on Straight2Bank are now minimalised. This includes free RTGS transfers done online as well as payroll.

To learn more and get started, visit https://www.sc.com/ke/business-channels/straight2bank/