When Numbers Count
Posted 26 Jan
Posted 26 Jan
As a business owner we sometimes put aside looking after our finances both professionally and personally. We get too busy with running the business and when at home switching off to spend time with the family.
Have you ever needed a loan? Those pesky finance brokers and bankers always want copies of your financials. You need a miracle worker to get this in place as you were not going to bother with this until you had to do your tax return.
As a Bookkeeper we help business owners keep up to date with their business finances. We also help you with your personal finances.
Where Did My Money Go?
This is the Million Dollar question that we ask ourselves. As a business owner how much should I pay myself and what do I spend the money on. A lot of business owners will use their business bank account as a personal account and take funds from there. This is a bad habit. You should set a budget for what you take. Processing this in your accounts is different depending on whether you are a Sole Trader, Partnership or Company. It is always best to get advice before taking money for “wages”.
Your numbers count, as this will determine if you can get a loan. Contact us at Shaped Business and we can assist with getting your numbers up to date and be prepared to show off your numbers.