Presentation Transcript
Slide 1:Aileen Hannan Co-owner of SortMyBooks
Software and Training for Small Businesses
“Accounting is EASY!”www.sortmybooks.com
Slide 2:What I spent on wages, advertising, etc What I sold What loans I have out What big things I bought, vans, equipment etc Who owes me money Who I owe money to What's in my bank How many customers I have What you already know
Who else wants to know? :Who else wants to know? Bank Revenue Investors Customers Suppliers Translator
Profit & Loss / Balance Sheet :Profit & Loss / Balance Sheet Sales
Running Costs Debtors
Bank Balance
Fixed Assets
Creditors
Loan/Overdraft Profit
Banks/Investors :Balance Sheet
Debtors
Bank Balance
Fixed Assets
Creditors
Loans/Overdraft Banks/Investors < Assets < Liabilities Liquidity Ratio
Assets/Liabilities 1:1 is good
2:1 is better
Banks/Investors :Banks/Investors How good an asset is your Debtors?
Owed to me now = 6000
Sold on average 100 per day
Time to collect = 60 days (6000/100) Debtors = 6000
Sales = 36,500
Debtor Days = 60 National Average is
65 days
Investors :Investors Profit Margin %
Profit divided by Sales x 100
Average spend per customer
Sales / no of customers
Trending
Why excel is NOT an Accounts Package :Why excel is NOT an Accounts Package Invoice in WORD
VAT in Excel
Ad hoc Statements
Mid year box to accountant for bank meeting
Year end box and spreadsheets to the accountant for the Revenue
Why to use a real accounts package :Why to use a real accounts package Enter ONCE,
Use it many timesSales, Purchases, Lodgements, Payments
Generate compliance info (VAT, Profit)
admin (Invoicing, Statements)
information (Ratios, Trends)
ONE HOUR A WEEK!
Slide 12:Record your purchase
Slide 13:Record your Money Received
Slide 16:Statement/Reminder
Slide 17:VAT Return
Slide 18:Form 11 Sole Trader Filing
Slide 19:What I spent on wages, advertising, etc What I sold What loans I have out What big things I bought, vans, equipment etc Who owes me money Who I owe money to What's in my bank How many customers I have What you already know
Slide 22:Aileen Hannan Co-owner of SortMyBooks
Software and Training for Small Businesses
“Financial Control in an Hour a Week”
See something get Lost in Translation:
http://www.youtube.com/watch?v=KXBEoBr5ttM
Download SortMyBooks:
ww.sortmybooks.com