Are you getting what you need?
We are all getting more e-mails than ever and we are constantly looking at how we can add more value to our regular bulletins so have slightly tweaked the format for this month.
We are splitting the content into shorter and more “punchy” sections so you can jump into those which are of greatest interest value to you and will save you time looking for the “golden nuggets.”
Save me tax
Did you know there are three different elements to the tax advice and support that we provide and for which greater attention can be paid?
Click on the image below to find out more.
Make me more money
We have mentioned this before on a previous newsletter; with reference to inflation, but have you thought about this:
“Money left sat in your bank account is COSTING you money.”
Given the current rate of inflation, I don’t believe there are any banks currently paying interest in current accounts that exceed the current rate of inflation so; with it left sat there, as each month passes it worth less than the day it was put in.
What should you do? Speak with an IFA. Don’t have one? Get in touch with us by clicking here and we will contact you.
Help me focus on what matters
We started this end of month newsletter saying how a deluge of e-mails and content is meaning that people are struggling to see the woods for the trees.
The amount of information at people’s finger tips often leads to what is commonly known as “analysis paralysis” so basically you don’t know where to start, so don’t start.
We have some great overview reports that we are sharing for no cost up until the end of March for those on our bookkeeping package so let us know if you would like yours.
If we don’t do your bookkeeping, get in touch regardless and we’ll send you a template report based on demo data and a bit like Bullseye show you would could have won; or could still get in the future …
Yes please I’ll have a business overview report click here
Improve my cash flow
One of the most common issues we find whereby businesses could improve their cash flow is by changing the way in which they quote.
Whilst it is quite easy to factor in those costs directly attributable to a sale, it is more difficult when it comes to those overheads you incur regardless i.e. insurance, rent etc.
Go through your overheads for the past year and work out what these equate to based on the number of working hours there is in a year for you i.e. the hourly costs of these same overheads.
Start then applying this hourly overhead rate; with a mark-up to future quotes and see what difference this makes.
This is rough and ready; and not perfect, but is better than nothing and it will provide a great platform to build from.
Make sure you start with this gradually to get your confidence in adding it and in the calculation itself or just a few clients. We are here to help where needed.
Takeaways (everybody loves one, Indian would be my choice)
- Look at tax from one of three angles to think of it more proactively.
- Don’t have spare money in the bank costing you money, have it make you money.
- Draw from your figures what matters the most and we have a great report to help so get in touch for what this could look like.
- When it comes to improving cash flow; start with looking at how you quote for work. Then, take this a step further and monitor your REAL profitability per job thereafter.