pandemic Archives - WCS Devon Somerset Accountants

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7th February 2022

It’s not easy changing accountant

When everything else is still changing around you, why change your accountant? Read More >

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Stock turn is how quickly you move the stock, or h

Stock turn is how quickly you move the stock, or how often.

Let’s look at example.

Imagine you’ve got a a widget that costs £100 and you mark it up 100%. You sell it for £200. You’re making £100 gross profit.

If you move that stock once a month you have 12 monthly sales which will generate £1200 in gross profit. That’s 12 times £100. But if you can turn it over more, say twice a month, then you’ll double that to £2400.

Stock turn measures the average sales in a year. So in the first example above stock turn was 12, and 24 in the second.

Generally, the quicker you can sell your stock the more profit you make.

In this example, the same space was used to generate twice as much profit.

Read the rest of the blog, or watch our video conversation at https://wessexcommercial.com/is-stock-working-for-your-business/

#WCSnotjustaccountants #profitimprovement #CharteredAccountants #Devon #Somerset

This KPI is a must for every business. Break it do

This KPI is a must for every business. Break it down into gross profit margin on each product, customer group or market. Businesses tend to have a single gross profit figure which can hide great and poor performing areas of your business.

"It’s key to know the make up of your gross profit margin. It’s often what stops companies growing when they reach £1m or £2m turnover. There’s often something which is costing them money and they don’t realise."

Read the rest of the blog, or watch our video conversation at wessexcommercial.com/news

#WCSnotjustaccountants #profitimprovement #CharteredAccountants #Devon #Somerset

How hard is stock working for your business? We've

How hard is stock working for your business? We've been asking the questions in our latest blog:

- How much does it cost to hold stock?
- What is Stock Turn and how does it influence profits?
- What other KPIs can help you manage stock better.

Stock is more than just a physical problem for your business. It’s a financial issue too.

Read the blog or watch our video discussion at wessexcommercial.com/news

#WCSnotjustaccountants #StockManagement #Stock #CharteredAccountants #Devon #Somerset

What questions do you have about bringing in a par

What questions do you have about bringing in a part-time finance director?

Check out our latest blog, and let us know your questions in the comments 👇

#WCSnotjustaccountants #parttimefinancedirector #financedirector #charteredaccountants #DevonBusiness #SomersetBusiness

Are you struggling to look after or understand you

Are you struggling to look after or understand your company’s finances? Are you worried about rising inflation and potential recession? Have you considered hiring a part-time finance director?

Our latest blog answers your questions.

#WCSnotjustaccountants #parttimefinancedirector #financedirector #charteredaccountants #DevonBusiness #SomersetBusiness

What difficult decisions are you facing? We look

What difficult decisions are you facing?

We look at how a part-time finance director could support you in our latest blog.

#WCSnotjustaccountants #parttimefinancedirector #financedirector #charteredaccountants #DevonBusiness #SomersetBusiness

Have you considered bringing in a part-time financ

Have you considered bringing in a part-time finance director? We answer your questions in our latest blog.

#WCSnotjustaccountants #parttimefinancedirector #financedirector #charteredaccountants #DevonBusiness #SomersetBusiness

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