Started a business, now what? Philippines

RE:

Hmmm.... isn't equipment considered a fixed investment for a long duration of time and shouldn't be included in monthly/daily/weekly expenses?

Yes, Equipments are Assets, however you can still calculate the daily depreciation value, a value that is an expense(loss).

Congrats,
try to list it down the expenses vs the sales for atleast a month..
goodluck..

+ consider also the salary for youself coz you also work for it even you own the business. -enjoy madam

 

if your doing business and tracking records, you have to set first your total generated sales then deduct it to be part of your savings cashflow, meaning to say gross profit to net profit, break even could not be justified yet if sales is just only starting to boost up, much more important thing to considered is the cash flow, generating repeatedly to accumulate earnings which is total net profit beyond expenses that you have, then if things can be controlled based on accumulated earnings that is the time that you can create break even..do the trial balance for every assets that you have, it can be meausure there but not exact ^^, hope i help you about your question, thanks

gross - expenses (engredients) = net
net - 2% for the equipment - other expenses (utility bill)
the sum is your income

Can you further elaborate the gross and why is 2% deducted from the net?

ts , if you have a desktop or laptop at home , try to have an excel sheet . so that you can put all your expenses and your sales there and its much easier to keep track.

try not to make things too complicated for NOW

- open a bank account nalang, one with a passbook 

- all expenses recorded via withdrawal 

- all earnings recorded via deposit

 

- after 3 months saka mo na ipasok ang pag gawa paunti-unti ng balance sheet involving equipment, overhead expenses, etc (madami iyan)

for now concentrate on selling and depositing all sales. this way gaganahan ka pag nakikita mong lumalaki ang pera mo sa passbook.

 

oh . . and do the accounting yourself para tipid. You can downlod this from the internet. 

I think he's saying that equipment is an asset that depreciates.. For you to know more in clearer view, you have to estimate the value of the equipment you purchase and its life span. Let say your oven cost P20,000 and you think will like be no value or will only last for 20years.. you will deduct P1000/year as an equipment cost or an expense. If you're using a balance sheet, you can put that on the Asset side as "Depreciation Expense" and "Accumulated Depreciation" on the other side. Sorry for the technicalities. -enjoy madam

Nice formula. More final than the previous comments. Thanks, dami ko natututunan dito ah. :)

@ TS,
pm me, I may help you start a format in your computer in keeping records of your cash flow.

Make an Excel file and record every sales you make then create a formula out of it. Para everytime you encode = Automatically na mag compute and excel.

You need to consider computing per unit cost, this will help you identify your direct cost for every item to be sold. It will be easier to formulate your mark up, break even points and direct item expense; this will avoid over expense for the excess ingredients. Add on cost will be your labor, creativity, transportation and utility. Price will come in handy for your next client quotation.

Ako po ay nahihirapan sa pagprice ng aking product. Ano po ba ang fixed costs sa baking?
Kasi on my part free ang electricity dito sa amin we also have an oven already. Aside from utensils and other baking equipments ano pa po ba?

Anyone who can help me sa pricing will highly be appreciated. Thanks!

need nyo dyan.inventory system. for your business para ma trace mo. in/out ng income mo

Nice, may natutunan ako sa thread na ito :)


Message appended on October 11, 2012 09:03AM
Nice, may natutunan ako sa thread na ito :)

Nice, may natutunan ako sa thread na ito :)