Every month you are likely to spend some money on different goods and services for your hire business. These might include:
- trade association membership fees
- subscription to a trade journal
- protective clothing for staff
- hand cleaning products
- computer and general office supplies
Make an estimate of the amount you are likely to spend on general expenses every month.
Once your business is up and running do not forget to record what you spend on general expenses and keep receipts wherever possible.
Income: Tool Hire
Expenditure: Tool Hire
- Payments to creditors
- Cash purchases
- Licences
- Wages
- Drawings
- PAYE
- VAT
- Tax
- Rent
- Rates/Water rates
- Heat and light
- Telecommunications
- Postage, stationery, advertising
- Motor and travel expenses
- Professional fees
- Insurance
- General expenses
- Bank/finance charges/interest
- Leasing payments
- Capital expenditure
- Other payments