Accounts

[pinky lou]

Hi I'm a newbie. I've searched past posts but not found what I'm after.

I'm starting as a mobile hairdresser and need help with my books. I was told to pay myself for research and delivering leaflets and buying stock etc. How would i put this into the accounts? If I put that I'm paying myself does that mean I'm making a profit?

 

[Mooey]

I think you're confused :hug:

You are not making a profit when you go out flyering, unfortunately. You do obviously want to pay yourself but this comes into consideration when working out your services. For example: It costs you £5 in products to carry out a service, £5 to cover electricity, rent, etc, it takes you an hour to do the treatment, so you want say, £10 an hour, so that's £20 but you still want to make a profit for the business, so you charge £30.

You wouldn't need to put on your accounts that you've been out flyering. Hth's x

 

[marion]

I'm not too clever on this, but I think handing out flyers is considered an expense, and put under the marketing or advertising column

Your books should have a incoming column and outgoings, which is many columns, made up of things like rent, electricity, payments to suppliers, lodgements to bank and drawings.