Recent content by janet40wood

  1. J

    Accounts software

    Xero and Kashflow are probably the most user friendly if you have little accounting experience. You can grant your bookkeeper/accountant access and they can check/keep an eye on transactions for you. Both can use and access the data simultaneously enabling greater collaboration and the...
  2. J

    coffee machine not an allowable cost

    If you use the coffee machine for business, clients visiting etc - and only for business then I would say this cost - plus the coffee could be allowable, but this item would need to be placed in your office - and used just in this designated area. As you have rented office space - and have...
  3. J

    Learning accounts

    There are many online resources available. Bookkeeping for dummies is a good starting point if you have no knowledge at all. You could find a bookkeeper/accountant who compiled the accounts for you and trained you as it is so important that every business owner understands what the numbers are...
  4. J

    Profits but No Cash

    Cash is king in business especially in the current climate. The profit and loss account is entirely separate from cash so it is entirely possible to achieve profitability but run out of cash and of course when businesses run out of cash they are finished. Keep regular accounts and analyse all...
  5. J

    Online Calculator

    There are many calculators available already calculating gross profit, what if scenarios of price, volume, revenue, cost changes etc. These are just some financial calculations that i have seen on sites. All workings can be done on excel. Were you thinking more of an app?
  6. J

    How to increase profitability for trades company...

    I have managed (as a financial controller) profitable £2M turnover companies and also have clients in construction. I feel you need to look at various areas: projects: Contracts, payment terms, billing, credit control, project control, breakdown of margins and costs, pricing strategies Look at...
  7. J

    What is acceptable profit forecasting for start-up commitment?

    The forecast needs to be linked to your general business plan and SWOT analysis. How will you finance the business, how long can you go without earning money, how long will it take to breakeven or are you hitting the ground running, bootstrapping etc. What is your sales forecast based on, how...
  8. J

    `new` ideas for a cafe...

    Using subway as an example but offering makeup of different salad bowls is one thing that was very popular in a town I visited especially with workers who are bored of sandwiches. Tasty, and personalized
  9. J

    Limited Company - Accountant / accountancy firm

    You say they have become pathetic recently - can you say why and what exactly are you looking for? Is it your intention to stay a contractor or to expand your company?
  10. J

    `new` ideas for a cafe...

    What about delivering to local businesses, having an online presence? Nowadays all retail needs to be part online, part shop/cafe. Soup, pasta, bagels, italian flatbread and all homebaking is making a comeback especially cupcakes. There is a cafe in our local town which do felafel, greek...
  11. J

    Claiming back for wrong tax code

    Hi - just write a letter to HMRC or you can call them and request that your tax code is amended - issuing the incorrect tax code is very common so they usually make the change quickly by issuing a revised Notice of Coding to your employer who will apply immediately and the tax will be...
  12. J

    New Member - Introduction

    Good morning everyone My name is Janet Wood and I have been working in a variety of finance and IT roles for over 20 years. I set up my company Technolibre as I am passionate about helping other small businesses become financially literate, using financial and operational data to make the right...
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