tslbookkeeping.com » Book-keeping

Budgeting for commercial premises and commercial van insurance

Paul — Thu, 15 Jul 2010 15:26:31 +0000

Owning your own business necessarily involves keeping track on your monthly and yearly outgoings. Without a proper budget, you will struggle to keep a tab on how your business is performing.

The most significant expenditure you are likely to deal with if you are running a small business is the lease on your property. However, you may also run one or more company vehicles and these also represent an expense that you should have firmly in mind when doing your accounting.

If you run a van or a fleet of vans as part of you business, then you have to keep track of your outgoings on fuel, maintenance, commercial van insurance, and so on. If you feel that you are spending too much on these things then you should consider whether you are getting the right deal the commercial van insurance provider your policies are with.

The insurance on your business premises is also likely to eat into your budget significantly, and again, it is possible for you to shop around for the best deal on your commercial property. Comparison sites may be able to offer you further insight into how you could save money on your commercial property insurance and commercial van insurance, thereby freeing up funds you can spend elsewhere.

So How Much Should You Charge?

Paul — Thu, 13 May 2010 08:04:35 +0000

Ok so you have decided that someone is going to rent from the house you have just bought. Depending on whether you are renting the whole house or just a room or section of a house, prices will vary and really need to be judged at your own discretion. There are many websites that give you a guide on how much you charge depending on room size, how many you are sharing with and many other factors. There is also the factor of whether the person renting is a friend or purely a professional agreement. Either way can work but you need to make sure that everything is done legally. This will mean paying tax on the monies you receive from the person renting.

Book-Keeping

admin — Sat, 27 Jun 2009 14:06:32 +0000

Bookkeeping is the recording of business transactions.

Accounts Payable: Prioritize your bills and get them paid on time. Keeping your creditors paid and remaining in good standing with them is critical to success.

Accounts Receivable: Setting up an account receivable ledger so that you will always know how well your customers are paying what they owe you. Billing your clients and track the invoices that have not been paid. Collecting any money that is owed you and your company.

Bank Reconciliation: Balance your checkbook each month to assure accuracy of all accounts.

Credit Card Reconciliation: Make sure that all of your charges on your business credit cards are charged to the proper accounts and that all the information on the statement is accounted for. Find any problems that may arise in the use of your cards.