profit

Turnover is vanity, profit is sanity, cashflow is KING!

Some of the best businesses are brought to their knees by cash flow issues. Businesses which were full of promise with committed and passionate owners backed up by motivated staff disappear from Companies House on a daily basis because they didn’t have enough ready cash (or access to debt capital) to meet the bills. Late payment is definitely an issue but, as business owners, we’ve got to take some of the responsibility ourselves. If you know this is a problem…

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Easy Peasy Accounting

The difference between cash flow and profitability

Cash flow and profitability – two of the accountancy industry’s favourite phrases, and words you’ll find in no short supply on the pages of our blog. For business owners though, it’s really important to understand the difference between the two. Profitability means making sure your business consistently pulls in more money than it spends, covering all your costs, including wages, taxes and your own drawings on an ongoing basis. Cash flow isn’t so much about covering all your costs, it’s…

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Easy Peasy Accounting

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