Profit & Loss Re : Accountants?

Digitaljunkie

Can any accountants look at this and give any professional opinions. Feel free to sell your selves i'll be looking for one if my biz plan pulls off.

thx D.

J.Ryan

Overheads are unchanged

apart from that there is insufficient information to say anything.

The advice I would give you is contact someone local agree a fee with them to review this and give you their thoughts based on full facts/assumptions

J.Ryan

2nd look, your Gp margin seems weird, I didn't bother with a calculator to confirm this

Digitaljunkie

Thx for that J here's the cash flow, not sure if its sage i'm new to it so I guess it needs some configuring slightly head wreaking.

thx again D.

J.Ryan

It looks like you expect to collect all your sales, you include VAT in your receipts and in your payments, but I don't see where you are paying the VAT to the Government


It seems that there is wages in the overheads, have you included PAYE/PRSI in the payments

Corporation Tax.

Outlay for fixed assets


There is insufficient information in that. I also can't imagine a back accepting those charts, they would want more analysis than that, individual figures

Digitaljunkie

Yes i'm with you i did the figures on my own excel template origionally but trying to include or add these into sage just dosn't seem to be working.

I think I won't use these in the plan just add my origional excel ones they include the areas you suggested the sage biz plan software is just not set out clearly or maybe i don't know how to use it properly.

Thanks anyway D.

J.Ryan

you're welcome.

best of luck with it and let me know how you get on

fraggle79

You should purchase Solutions Plus.
It costs around €100 per year.
It will do everything you need.

Digitaljunkie

Ok thx i'll check it out....

D.

censuspro

If you're looking for biz plan software, Sage have a free one on their website.

irishrugby09

Hi Digitaljunkie,

I just had a quick look at the profit and loss.

Your Gp Margin in year 1 is 86.22% and the decreases year on year to 84.84% and 84.14% respectively.

To is an extremely high margin but then again it would depend on the business you are in.

Also I would question why your overheads have remained the same year on year?

doodd

How did you come up with the numbers? Your cash receipts seem to be higher every year than your sales. Likewise your payments seem to be higher than your costs.

J.Ryan

I saw that and just assumed VAT

Digitaljunkie

Yes its all a bit crazy i'm doing something wrong in the sage biz-plan software settings. So i'm doing it manually in excel at the moment.

Another quick question if I may folks,

Do VAT refunds go into my Cash Flow section normally?

thanks again Dj.

J.Ryan

Yes they would be a cashflow

Digitaljunkie

Sorry folks do Fixed Assets go into out goings its leaving me with -2500 for year 1. I guess its usual to post a loss in year 1 and show profit in year 2 and 3 due to start up costs?

Thanks again all.....................................

smcgiff

Digitaljunkie wrote: »

Sorry folks do Fixed Assets go into out goings its leaving me with -2500 for year 1. I guess its usual to post a loss in year 1 and show profit in year 2 and 3 due to start up costs?

Thanks again all.....................................

Oh Jeeze - Get professional help already!

Digitaljunkie

Yes I plan to i'm just trying to understand as much as I can before I see an accountant sorry for being a pain. I am a believer in letting a pro help in any service, otherwise I wouldn't be here trying to set up a service business my self. I'm good at what I do but accounting is not my area i'm just learning the cash side of it which is the most important of all no matter how good I think I am at my job.:o

J.Ryan

To put it simply

Cash flow forcasts deals with all "cash" (Bank, Credit Card, Loans etc) items

Fixed Assets, would not go into the profit & Loss account, however Depreciation would (which is not a cash item).

At this stage, I think you do need a face to face meeting with an accountant.



Feel free to pm me if you are interested.