Alice McLeish

Making time to look over your financial reports each month is an important task for any business owner. If you are not taking the time to do this, either because you’re too busy, or perhaps you don’t really understand what…

Understanding your financial reports, or knowing your numbers, is critical to business success. It allows you to make better business decisions, measure the impact of those decisions, take corrective action where necessary and, ultimately, enjoy better results. By understanding your…

It’s common for trades business owners, and business owners in general, to focus on their sales figure as a measure of how well their business is doing. This may give you some insight, however it doesn’t give the full picture.…

A business budget is one of the essential tools in managing your business finances and actively building your business. A budget shows what you plan to do with your cash over the next year. For a complete picture of your…

It’s often thought that as long as your business is showing to be making a profit in your profit and loss (P&L) account, everything is great, your business is profitable, and you can take home cash. However, this isn’t strictly…

For your business to make money, you need to generate revenue. You produce revenue through your usual business activity, by making sales, getting your invoices paid, or taking cash from paying customers. So, the better you are at selling your…

Managing the gap between the receiving money into your business and paying money out of your business is vital for sustaining viability. Debtor days is the average number of days taken for a business to receive payment for goods or…