If you’ve ever been in a position where you’re looking for money to pay wages, VAT or an important supplier invoice in a hurry, our business information service changes all of that.
Did you know that, for a majority of UK businesses, twelve weeks of the year are what bookkeepers call “extreme stress points”? And that’s for all companies, whether they’re trading profitably or going through a temporary lull.
These twelve weeks are actually four blocks of three weeks. It works like this…
• 22nd of the month – PAYE reconciliation day
• 25th of the month – Rent day (paid once a quarter)
• Last Friday of the month – all staff and director pay
• 1st of the month – Business rates
• 7th of the month – VAT day (paid once a quarter).
Within these three weeks, money just drains out of your account. You could be paying out the equivalent of 4-7 weeks’ worth of sales during this window.
Proper bookkeeping provides you with the information you need to know about extreme stress points throughout the year.
You get a clear and up-to-date idea about how much money is coming in and whether the rate of income is increasing or decreasing. You know the same about money you’re paying out.
If you’re looking for funding to grow or consolidate, or you’re looking to attract an outside investor to put capital into your firm, having live and relevant information to hand is essential. And don’t even think about trying to sell your company before you have this information .
