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Understanding the types of Profit

We all know the expression “Cash is King” – but often people forget today’s cash is driven by yesterday’s decisions on pricing, “ingredients” and running costs, all of which determine profit.  The Profit and loss report gives you the information to track and manage your sales and expenses and help  […]

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Keeping Your Receipts (sensibly) Saves you Cash

The admin of running your business can seriously take the fun out of being in business unless you are careful. Obviously getting paid is the biggest pain, and next? Well I reckon keeping track of your receipts. At the end of the week there they are stuffed in your wallet, […]

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Use xmas downtime to boost cash

The start of the year is a good time to tighten up on cash – but its much more effective to do this before the start of the year.  That way you will hit the new year running!  So why not use some of that xmas downtime to look at […]

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How flat rate VAT scheme might save you cash!

As this article is about VAT – I am unusually going to start with a health warning. Don’t mess with VAT authorities – if sales of your business are likely to be £81,000 or more you have to register for VAT. And while most of VAT is straightforward there are […]

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Why percentages (and ratios) can save you cash!

There is a common misconception that an experienced finance person can look at a set of management accounts and highlight one or two numbers that indicate the health or otherwise of the business. But this isn’t how it works – because every business is different and has different relationships between […]

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Let your Chart of Accounts save you cash

Your chart of accounts (CoA) is the list of headings (or homes) that your accounting package uses to categorise your business income and expenses. By grouping transactions in sufficient detail you can really understand whats going on in your business.  For example rather than just recording  marketing as a lump […]

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Good Documentation Saves Cash

  January can be a pretty tough month for trading after the hump of Christmas – unless you happen to be a fitness coach or selling diet supplements…so as well as reviewing your marketing plans, use the time to make sure you have all your business arrangements properly documented.  In […]

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