Finance tips for small business owners
<![CDATA[It is Finance month at LSN this October, and we've been delving deep into Masterclasses with our Resident experts. It is an area that so many people find overwhelming, and admit to burying their heads in the sand far more than they should. So what are our top tips to keep on top of the money?
- Do it regularly. Don’t leave looking at your accounts until your tax return is due. Have a look at them on a weekly basis, so that you can keep on top of where your money has gone, and what has come in.
- Use a system. With the changes coming in 2019 for people who hit the VAT threshold having to submit their tax returns quartely through a digital method, now is a great time to consider using a system designed to look after your accounts. There are many low cost options out there, and these will allow your bank transactions to feed through automatically, upload your receipts and file your returns for you.
- Keep your receipts in a safe place. Have a special wallet/ envelope in your bag that your business receipts go straight into. Also keep a folder in your emails or cloud drive to save any digital receipts into. That way you only have a couple of places to look.
- Keep all your login details safe somewhere so that you can access your HMRC account whenever you need. You will have a Unique Taxpayers Reference Number (UTR), and if you are a limited company, you will have a company number along with many more pieces of information that you will need at some point.
- Know the deadlines. Nothing worse than finding out that you need to submit and pay something with no notice. Keep up to date with deadlines (all can be found on HMRC website)
- Be aware of what you can claim. Don’t miss out on putting legitimate business expenses through your accounts.
I'm Sally Oddy
I'm a girl who fell into marketing 20 years ago and never looked back! I love popcorn, reading and working from home with my cats on my keyboard! (if you know, you know!) My mission? To help others express themselves in their businesses enjoying the impact and income they truly desire!
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MEET SALLY ODDYBUSINESS MENTOR + FOUNDER OF FIVE FIGURE FOUNDATIONS
Sally works with soulpreneurs, pouring over 20 years experience into their hearts, minds and businesses.
Passionate about living life on purpose, Sally is all about honouring and accepting the fullness of self.
In-powering her clients to experience life in beautiful, bold, expansive ways is how they create and attract abundance and success into their lives.
Guiding her clients to dive deeply into their vision and mission, Sally shares her aligned approach to building online businesses that have a deeply positive impact in the world.
Sally is a Yorkshire Lass who grew up in 80's South Africa and is on a mission to inspire you to fulfil your dreams and potential in order to create a more in-powered and happy world.
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In this fast-paced 20-minute brainstorm, we'll...
- Take a look at your marketing, sales and delivery systems to see what is/isn't working.
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