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  • How can I tell if I am making money? Advice please.

    updated 3 years, 6 months ago 0 Member · 1 Post
  • Charles

    Member
    July 29, 2019 at 8:02 am

    I own a small business and have been at it for about 18 months now. This is my 1st business I’ve ever owned. I have a question for the experienced owners out there: Am I making money and is what I’m making worth the effort? ​ This is my data for the last 3 months: Gross income: 181,000 6 Employees Salary: 67,400 All other expenses (gas, supplies, insurance, etc): 80,200 Total expenses: 147,600 Net profit?: 33,400 ​ Also, on top of this I have Accounts Receivable totalling 75,400. This figure includes 20,000 that is owed to subcontractors but, I believe, the remaining 55,400 should be all profit. ​ So, did I make 33,400 over the last 90 days or did I make 88,800 over the last 90 days? I know what figure I like but my bank account isn’t showing it. ​ If I am making 33,400 profit on 147,600 in expenses that is 22.6% which doesn’t sound all that great but if I am making 88,800 profit on 167,600 then that is 52.9% which sounds a whole lot better. ​ What is the ‘right’ way for me to look at this? Trying to decide if the headache of 6 employees is worth it. Thank you for your advice. – by hq overview UofFGatas – –

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