Welsh Government

Managing your Finances

A vital part of running a successful business is looking after your finances. When they’re put together in the right way, the numbers paint a detailed picture and tell stories about your business...
Your cashflow shows the amount of cash coming in and going out of the business each month. It is a critical planning and management tool for the business. This section explains the cashflow forecast...
A Profit and Loss Account shows the financial performance of your business over a specific period. It is used by HM Revenue and Customs to check your calculations for tax and by potential investors...
Forecasting sales is an important part of business planning. You can use the information to develop your cashflow forecast and budget effectively. This section looks at the different methods of...
A Balance Sheet gives you a snapshot of the financial state of your business at a given point in time. It is used to assess the value of your business and to work out the ratios which evaluate...
Value Added Tax (VAT) is a transaction tax charged on the sale of goods and services. This section explains who has to pay VAT and how to account for it.
The importance of good financial management is emphasised throughout this module, The key elements of running the money side of your business are highlighted. This section provides a checklist to...
A vital part of running a successful business is looking after your finances. When they’re put together in the right way, the numbers paint a detailed picture and tell a story about your business...