Finance, Tax & Accounting: page 6
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Sole Trader Meal Records: Lunch, Travel and Client Meals
Separate ordinary lunch, overnight travel meals and client entertainment in your records, with a practical worksheet for the facts your agent needs.
3 min readRepair or Improvement? Gather the Facts Before Coding It
Document an asset before and after work, separate invoice components and collect the evidence your adviser needs to assess repairs and improvements.
2 min readSelling or Scrapping Equipment: Close the Asset Records
Record the sale or scrapping of business equipment, reconcile proceeds and fees, and keep the documents needed to close its accounting and tax history.
3 min readBusiness Vehicle Records: Build a Logbook and Expense File
Organise vehicle journeys, odometer readings, private detours, running costs and ownership documents in one file before reviewing the claim method.
2 min readMulti-Product Break-Even: Use a Realistic Sales Mix
Calculate break-even for several products using a realistic sales basket. Compare two mixes, weighted contribution and the sales needed to cover fixed costs.
3 min readBuy or Lease Equipment: Compare the Total Commitment
Put purchase and lease proposals on the same timeline. Compare upfront cash, instalments, maintenance and end costs, with a checklist for unanswered terms.
3 min readContribution per Bottleneck Hour: Choose Work When Capacity Is Full
Compare jobs by contribution per scarce machine or specialist hour. Include setup time, demand limits and existing commitments before changing the schedule.
3 min readCustomer Profitability: Include Support and Delivery Complexity
Compare customers after support time, delivery, returns and account administration. Separate cost allocations from cash savings before changing an arrangement.
3 min readGross Profit Variance: Separate Price, Input Costs and Waste
Trace planned gross profit to actual results with a worked price, input-cost and waste bridge. Find the cause of margin loss using records you already keep.
3 min readMake or Buy? Compare Avoidable Costs and Released Capacity
Compare in-house production with bought-in supply using avoidable costs, unchanged overhead and released capacity. Work through a clear make-or-buy example.
3 min readPrepaid Service Packs: Cost the Promises Before Discounting
Cost every session promised in a prepaid service pack. Allow for delivery time, rescheduling and rising costs before treating the upfront payment as profit.
3 min readProduct Returns: Calculate Their Effect on Real Margin
Calculate margin after refunds, return freight, inspection and recovered stock. Compare three return rates without double-counting the cost of returned goods.
3 min readRecurring Revenue Profit: Model Cancellations and Service Costs
Build a six-month recurring-service forecast with cancellations, new customers and delivery costs. Separate customer churn, revenue churn and collected cash.
4 min readRepair or Replace Business Equipment? Compare Future Costs
Compare repair and replacement over the same period, including downtime, running costs and resale value. Test another breakdown before committing to a purchase.
3 min readSales Rose but Gross Margin Fell? Check Your Sales Mix
See how a change in product mix can lift sales while lowering gross margin. Use a two-product example to check the numbers before changing your prices.
3 min readShould You Stop Selling an Unprofitable Product?
Check whether dropping a product would improve profit. Separate lost contribution, avoidable fixed costs and overhead that remains with this worked example.
2 min readSupplier Early-Payment Discounts: Compare Savings and Cash Cost
Work out whether a supplier discount covers the cost of paying early. Compare discount dollars, borrowing costs, payment dates and the remaining cash buffer.
3 min readWill a New Service Add Profit or Just More Work?
Test a new service using added revenue, direct costs, setup spending and displaced work. Compare low, base and high demand before expanding the offer.
3 min read