Finance, funding & support
Help to find finance and funding support for your business
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Setting up a simple profit and loss account
A profit and loss account is a summary of business transactions for a given period - normally 12 months. By deducting total expenditure from total income, it shows on the 'bottom line' whether your business made a profit or loss at the end of that period.
Ensuring customers pay you on time
There are various ways of encouraging your customers to pay on time. However, despite your best efforts, you may find that some still end up paying late.
Set up a basic record keeping system
Whatever kind of business you run, you are required by law to keep financial records relating to it.