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No matter what challenge you’re facing in business, YBT Accounting has the tools and skills to help you come out the other side stronger than ever!
Questions? Confused about anything on this page? Contact the YBT Accounting team today!
Phone 03 477 3890 and speak with our helpful team of experts!
Succession Planning Questionnaire
Download your free Succession Planning questionnaire here!
What are your plans for succession in business? Do you even have any?!
Our free questionnaire will give you a better picture of how things will look as your retirement draws ever nearer.
Don’t let time intimidate you - contact YBT Accounting today for more information!
The Hourly Rate Breakeven
Your break-even point indicates the minimum level of sales or income you need to keep your head above water and remain in business. (i.e. cover your overheads).
It's a vital calculation helping you work out if you’ve set your goals correctly, and that you have enough income-producing personnel to cover your fixed costs.
Download our spreadsheet below and calculate your unique break-even point!
Such an exercise is ideal for any and all businesses with a high degree of sales based on hourly rate (e.g. trades, construction or professional services).
Budget Dates: Statutory Payments
A constant comment from small business owners is ‘Where is my cash?’ once they are told their profit result, usually around July/August each year (all going well) when they meet their Accountant (assuming balance date 31st March).
Here is a tool that is a simple summary of the pressure placed on your cash flow just from the usual statutory payments to the IRD. This is aside from day to day or seasonal pressure from stock and debtor build ups common in many businesses trade cycle and seasonal events.
Yes, a simple approach, but we find that most business owners never factor in that the majority of their cash accumulation occurs in 6 months of the year and drains in the other six months.
Try inputting your actual numbers from the last 12 months for these IRD payments to see how your reality stacks up so you can plan for this next financial year.
Imagine what planning your total cash flow for the business would tell you! You might find your business is cash negative despite the profit you make. Yes, that is also a common realty – call us if you need this explained.