AWR New regulations for your temp staff, are you ready?

Posted in Business Mentor, Finance Director by Marcus on September 1, 2011 No Comments yet

The new Agency Workers Regulations start on October 1st, basically they entitle agency workers to the same basic employment and working conditions as if they had been recruited directly, if and when they complete a qualifying period of 12 week in same job.

This is the link to the Govt guidance, 50 pages! Check if the rules apply to you. One basic rule is that agency workers are entitled to the same rate of pay as those who work directly for you.

http://www.bis.gov.uk/assets/biscore/employment-matters/docs/a/11-949-agency-workers-regulations-guidance.pdf

If you need HR help let us know and we can put you in touch with someone.

Share

What a Care Home should know on a daily basis? What are your KPIs?

Posted in Finance Director, Systems Manager by Marcus on August 15, 2011 No Comments yet

What a Care Home should  know  on a daily basis!    What are your KPIs?

Businesses should have KPIs  they look at each day, each week, and month end.

If I was running a care home what would be 3 of my daily KPIs?

  1. Food waste, what was the weight of food I threw away today?
  2. Alarm activations, how many residents pressed their alarms today?
  3. Activity participation hours- you have 30 residents at 10 hours a day what % of the 300 hours was spent on activities?

Want to know why or do have others then email Marcus@PartTimeExperts.co.uk

 

Share

You have heard a lot about Working Capital but what is it? Our part Time Finance Director explains

Posted in Finance Director by Marcus on July 21, 2011 No Comments yet

Simply put it is the Total Current Assets less the Total Current Liabilities.

Why is it important? Well the number should always be positive otherwise suppliers will query how you are meeting your day to day payments and may not risk supplying you if they think they may not be paid. Or they may ask for payment up front which would make your cash flows even more problematic.

Lenders also pay great heed to this ratio so you need to have a good ratio to borrow money.

If you need help improving the ratio then contact Marcus@PartTimeExperts.co.uk

Share

Our part time Finance Director suggests which 6 things every restaurant owner should know each day.

Posted in Finance Director by Marcus on July 17, 2011 No Comments yet

If you measure these 6 things in your restaurant, you can then see if your improvements are making a difference.

1                     Wage Costs as a % of Sales per day

2                     Kitchen wage costs as a % of food sales

3                     Sales per head-  total sales divided by the number of customers

4                     Drink Sales per customer

5                     Revenue per Available Seat Hour. Take the total number of ‘seat hours’ and divide total revenue for a period by this number.

6                     Waste- How much ingredients can you not use again at the end of each day—weigh it!

Ask Marcus@PartTimeExperts.co.uk if you need help

Share

Your part time Finance Director shows how to calculate your Debtor days and why they are so important.

Posted in Finance Director by Marcus on July 17, 2011 No Comments yet

The calculation is fairly straight forward, the second one you can use at the end of each month.

Debtors Days = Year End trade Debtors/sales x  Number of days in financial year

 

or

Debtors days = Average Trade Debtors/Sales x Number of days in period

 

when Average Trade Debtors = Opening Trade Debtors/Closing Trade Debtors

 

The lower your debtor days the better you are at collecting cash. Improving your Debtor Days will make a huge positive difference to your cash in the bank. This will allow you to grow as a business.

If you need a strategy to help you reduce your Debtor days just contact Marcus@PartTimeExperts.co.uk

Share