by Rachel Leyland | Oct 7, 2024 | Uncategorized
Here are some key metrics to keep an eye on: 1. Gross Profit Margin Your gross profit margin shows the percentage of revenue that exceeds the cost of sales (COS). A healthy margin indicates that your business is efficiently producing and selling its products or...
by Rachel Leyland | Sep 30, 2024 | Uncategorized
Here are a few tips to help you tidy up your books and take your business to the next level: 1. Stay Consistent with Entries Set aside time each week to update your financial records. Regularly logging transactions will help you avoid last minute scrambles and ensure...
by Rachel Leyland | Sep 23, 2024 | Uncategorized
Let’s break down the essential members of your money team. 1. Bookkeeper: Your Financial Foundation Your bookkeeper is the backbone of your money team. They handle the day-to-day financial transactions, keeping your accounts organised and up to date. A good bookkeeper...
by Rachel Leyland | Aug 26, 2024 | Uncategorized
Here’s how you can master and minimise your business expenses efficiently: 1. Categorise Your Expenses Start by categorising your expenses into fixed and variable costs. Fixed costs, like rent and salaries, remain constant, while variable costs, such as supplies and...
by Rachel Leyland | Aug 19, 2024 | Uncategorized
Here are essential bookkeeping tasks you should complete monthly to keep your business running smoothly and your finances in check. 1. Record All Transactions Ensure all business transactions, including sales, expenses, and any other financial activities, are...
by Rachel Leyland | Aug 12, 2024 | Uncategorized
Here are the key financial reports every business owner needs: 1. Profit and Loss Statement The profit and loss statement provides an overview of your business’s revenues, expenses, and profits over a specific period. It helps you understand your profitability and...
