5 Easy Tips for Managing Costs as a Business Owner
5 Easy Tips for Managing Costs as a Business Owner As a business owner, itโs crucial that you manage your costs well. Small businesses tend to have smaller profit margins, so itโs essential to keep control of your costs. Here are five easy tips on how to manage your expenses: 1. Start Immediately Most businesses […]
What Is A Financial Forecast?
What Is A Financial Forecast? Have you ever looked at your Year-End Accounts & been surprised the profit for the year was nothing like you expected? Or experienced that moment when you realise there isnโt enough cash to pay the wages bill? Or had an unexpected phone call from your bank, to tell you youโre […]
Do You Understand Your Cash Flow?
Do You Understand Your Cash Flow? Most business owners look at revenue & profit, is that the answer? Or do you need to be a bit cuter than that? ๐ช๐ถ๐๐ต๐ผ๐๐ ๐ฎ ๐ฝ๐น๐ฎ๐ป ๐๐ผ ๐ด๐ฒ๐ป๐ฒ๐ฟ๐ฎ๐๐ฒ, ๐ฎ๐น๐น๐ผ๐ฐ๐ฎ๐๐ฒ ๐ฎ๐ป๐ฑ ๐ถ๐ป๐๐ฒ๐๐ ๐ฐ๐ฎ๐๐ต, ๐๐ผ๐ ๐ฟ๐ถ๐๐ธ: Chasing revenue instead of high-ROI investments Wasting capital on low-impact initiatives Carrying debt that weakens […]
Company Van Benefits in Kind
Company Van Benefits in Kind If an employer provides a company van for an employeeโs personal use, it is considered a Benefit in Kind (BIK) and is taxable. However, the tax treatment for vans is simpler than for company cars. 1. When is a Van a Taxable Benefit? A company van is only a taxable […]
5 Secrets Your Accountant And Bookkeeper Wish You Knew
5 Secrets Your Accountant And Bookkeeper Wish You Knew Weโve compiled a top 5 list of the most common secrets we wish that you knew to help you save time & money in your business, and get the most out of our services. 1. Double Data Entry Double data entry means entering data from one […]
Revenue & Profit Per Employee โ Are You Getting Your ROI?
Revenue & Profit Per Employee โ Are You Getting Your ROI? Your business exists to be successfulโto provide you with the financial freedom and lifestyle you want. But how do you measure success beyond just turnover and profit, especially if youโre a smaller business without a specialist finance team? These metrics are easy to calculate […]
Debtor Days โ Itโs About More Money In Your Bank Account
Debtor Days โ Itโs About More Money In Your Bank Account The thing to remember about Debtors is that it is interest free money you are lending to your customers. The Debtor Days Ratio (DDR) is an easy way to track this.ย There is more than one formula that you can use to calculate the […]
Cash Flow Is Not Your Bank Balance
Cash Flow Is Not Your Bank Balance Your bank balance is just a snapshotโa moment in time. Cash flow, on the other hand, is the movement of cash in and out of your business. Understanding this flow is crucial to ensuring you donโt run out of cash and always have a buffer to cover your […]
Creditor Days: An Interest-Free Overdraft for Your Business?
Creditor Days: An Interest-Free Overdraft for Your Business? Ever feel like your business is constantly short on cash? One of the biggest hidden sources of funding is sitting right in front of you: your supplier payment terms. Also known as Payable Days or Days Payable Outstanding (DPO). It is a financial ratio that measures the […]
Cash to Cash Cycle – Cash Days Ratio
Cash to Cash Cycle – Cash Days Ratio Cash is the life blood of any business, so it is important to get into the habit of controlling your cash cycle as soon as possible.ย The basic rules are: get paid by your customers as quickly as possible, and delay payment to suppliers & workers for […]
