Know Your Numbers Week (Blood Pressure UK) 9th – 13th September
This week we are posting various items on FaceBook about numbers and how they might relate to your business. Here is a summary of all the weeks posts:-
This the first day of Know your Numbers (Blood Pressure UK) week…… we wonder how many of us don’t know our numbers. Are they in the right range, too low or too high. Have we had them checked recently. That’s how we believe that it is VERY IMPORTANT to have your numbers checked and if not in the right range, do something about as soon as you can, rather than leaving it too late !!
We believe in a good work/life balance, taking a lunch break from your work, having hobbies and other interest so you can switch off, so that when you are at work you are in a positive frame of mind and productive.
Each day this week, we will explore different numbers, that if they are not checked regularly could get out of control and take along time to recover………similar to your Blood Pressure Numbers.
Digital Bookkeeping can help you keep control of your numbers.
Do you know your turnover, your overheads, your gross profit and your net profit, for the month, quarter, year-to-date or for the financial year just finished.
Paper records can give you an indication of part, but not so easy to give you a full picture of your numbers for any of the above.
Keeping your records digitally can give you these numbers, they are all at your fingertips, as long as you keep your digital records up to date.
As a Platinum QuickBooks Pro Advisor we can provide you with a QuickBooks licence so you can record your numbers digitally………… many of our clients have already made the change and a reaping the benefits.
Give us a call to discuss your options and get the ball rolling !!
Going Through The Roof
When you get your final accounts some of the numbers may come as a shock and could cause the Blood Pressure to “Go Through the Roof”.
Don’t let any numbers go through the roof………… do you know how much you are spending on electric, motor costs, repairs and renewals, wages ?
You may have an idea but what about the complete picture?
Keeping your records digitally can give you these numbers, they are all at your fingertips, as long as you keep your digital records up to date.
Give us your QuickBooks Pro Advisor a call to discuss your options.
Different numbers today.
Do you know the number of sales invoices you generate, the number of purchase invoices, even from a particular supplier or the number of transactions that go through your bank account on a monthly basis.
We sat down with a very organised client and went through this exercise to get them on to QuickBooks Online, it wasn’t until then they realised the number of invoices they get from one supplier alone, but when added up in total it was a shock.
These have all to be recorded, so digitally and snap and store is the way to go. Some of the benefits are:
Keep more accurate records and save money
Save time keeping your business records
get paid faster with invoicing that stands out
Have your financial information at your fingertips
Easier to keep your records up to date
Make business decisions on current financial information
Know your total income and your profit as your year progresses
Have an idea of the tax liability you will be due.
Today we want to focus on one number in particular. Your wages costs… this overhead can quickly get out of control if not kept an eye on.
Generally, payroll expenses that fall between 15 to 30 percent of gross revenue is the safe zone for most types of businesses. If you are in the service industry, your payroll costs could encompass more than 50 percent of your gross revenue.
What is your wages cost sitting at? If it is greater than 15-30 percent or you don’t know……… it certainly is time to go digital.
As a Platinum QuickBooks Pro Advisor we can provide you with a QuickBooks licence so you can record your numbers digitally………… many of our clients have already made the change and a reaping the benefits.
Give us a call to discuss your options and join our other clients’ on the digital journey!!