Small Business Toolkit

How much should my business pay me? How do I calculate VAT? What should I pay an employee who has worked 35 hours at £6.90 this week? What is my gross profit margin? How do I work out selling prices using a mark-up percentage? What is the discounted price if I give a 8% discount on a sale?

As a business owner you will have no doubt asked yourself one of or something similar to these questions, and has the answer been at your fingertips? Did you have to phone your accountant and wait to hear back or perhaps you took a more hands on approach with a calculator and pen?! The Small Business Toolkit is designed to help you with useful business calculations and to start to give you an understanding of your numbers.

Here is a brief lowdown on what the toolkit contains and ways in which each tool may be of benefit to your business:

VAT Calculator

Straightforward and easy to use, the VAT calculator will add VAT to a net amount or calculate the VAT element within a gross figure. Simply customise the calculator to suit your VAT rate. Use it when completing a VAT return to work out the net, VAT and gross breakdown of purchases or have it at hand while drafting up sales invoices to see how much VAT you should be charging.

Wages Calculator

This wages calculator is designed for no-fuss, quick calculation of an employee’s wages on  a weekly, monthly or annual basis. It will show a breakdown of tax, employee and employer NIC and net pay. You need only enter one figure and the calculator will do the rest!

  • Designed for current tax year, 5th April 2010 – 6th April 2011
  • Know the weekly or annual cost to you of employing an individual
  • Current details of the national minimum wage

Margin and Mark-Up Calculator

Keep on top of and track your gross profit margin and mark up percentages with this calculator. Using your cost price calculate a selling price to give you the gross profit margin you want. Don’t wait till year end accounts to find out what your margin was for the last 12 months, act now and maintain a steady and profitable margin on the goods or services you sell. Use the calculator to work out the mark-up % and gross profit margin, compare this to your industry average and you’ll have a much clearer and better understanding of how your business is performing.

Business Owner’s Pay Calculator

Based on profits after tax, how much money should you be taking from your business? If you don’t know the answer to this question then the Business Owner’s Pay Calculator is a must for you. There are no wierd and wonderful calculations to be done, just enter your figures and the calculator will do the rest! You can use estimated figures or use historical figures from the last month to calculate how much money is available to you. An added feature allows you to factor in a percentage of profits to reinvest in the business giving you complete control and flexibilty.

Discount Calculator

The discount calculator allows you to work out discounted prices quickly. Have it at the ready when calculating how much you should discount sales or it can double up as simple percentage calculator. You will no longer need your pen, paper and scientific calculator!

Employee Appraisal System

This is the only system you will need in place for carrying out annual/quarterly/monthly reviews of your staff. Consists of  a series of questions designed to encourage the individual to think about their role within the business and then to evaluate their performance of that role. Will help you as an employer to get the best out of your team.

 

Interested? Download the Twiggal Small Business Toolkit here.