Many business owners are not necessarily being paid a salary, in other words they’re not being paid a salary through the payroll but instead they are drawing profits as and when funds are available. But how does this affect your business and does it have an impact on your business? I strongly recommend that instead […]
Should I be tracking the costs related to my products and services?
June 25, 2012 by Leave a Comment
I often get asked by clients if they should be tracking the costs related to their different products and services. My answer to that is definitely. The costs you need to be tracking are both your direct costs and your hidden costs. By tracking what your direct costs are in terms of receiving your product […]
Make your Profit & Loss Statement work for you
June 18, 2012 by Leave a Comment
I am often asked by clients what a profit and loss does; what it actually tells you and what it should actually look like. The normal Profit and Loss Statement is basically a record of all your income and all your expenses; for example a normal Profit and Loss Statement has one income account, and […]
End of Financial Year – Is it ‘Crunch Time’ for Your Business?
June 14, 2012 by Leave a Comment
The months of May and June of each year are really crunch time months for many business owners. I am seeing evidence of this with many of the clients I work with. End of May is generally the deadline for small businesses to submit their income tax returns for the previous year. In other words, […]
Confident Cashflows helped me turn my business from loss to profit in ONE month!
May 29, 2012 by Leave a Comment
I wish I had called Tracey Loubser from Confident Cashflows a year earlier!! Although I had a successful espresso bar in Perth I was bleeding cash from kitchen costs and wages. Tracey helped me clearly see the matrix that is my cafe business and by focusing my financial attention on both of the problem areas […]
