Management: Financial Suite

You may check your financial information monthly but are you doing enough? Do you create a cash flow chart? And have you established the cash flow goals for your business, both long and short term?

We will examine further the effect of debtors on cash flows, payments to creditors, increasing sales and reducing costs and getting quick cash.

We now take a look at:

• how to budget and forecast

• how to manage cash reserves

• how to manage petty cash

Simply by adjusting the price of your service or products, you could end up with substantially more profits. Wouldn’t that be worth exploring?

Public holiday, bereavement and sick leave and alternative holiday payments are calculated using relevant daily pay or average daily pay (if applicable). Annual holidays are calculated differently.

ADP is a daily average of the employee’s gross earnings over the past 52 weeks. This is worked out by:

• adding up the employee’s gross earnings for the period, and

• dividing this by the number of whole or part days the employee either worked or was on paid leave or holidays during that period.

In this article we discuss significant costs which can have a large impact on your bottom line.