Having financial clarity over your business is power.
It’s essential to know exactly how much you are spending and making in your business. After opening my shop I searched high and low for spreadsheets that would suit my needs. I purchased sheets that were not quite right so I created my own.
I wanted one place where I could manage my outgoings to HMRC and compliance payments. As I’m sure you all know, when you set up a limited company there are many things you have to file and pay, and lots of dates to remember. After working with an accountant who was a little less than helpful I decided to take control of my own finances with the help of a freelance accountant.
An accountant is very needed but when it comes to managing your money in terms of stock this is something you have to know yourself. As a shop owner, I always need to know exactly how much stock I have at any one time, how much of each item I have sold and the real COGS. As well as costs it’s also important to know how much you make on each sale. The yearly spreadsheet indicates how much you will make on each sale. When you have clarity on this you can move forward with pricing that will make you a profit.
The download of the Excel file is below, along with an example of a few sheets. If you are interested in cleaning up your finances with these spreadsheets but do not have time I can help you with this.
Get in touch at jane@wearenomads or 07947 253750