Creating Positive Cashflow With An Open To Buy
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Inventory control for small business utilizing an Excel chart created by Tom Shay www.profitsplus.org
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Creating Positive Cashflow With An Open To Buy
- 1. Presented by Tom Shay of Profits Plus Solutions 727-464-2182 tomshay@profitsplus.orgwww.profitsplus.org
- 4. 12/31 ASSETS Current Assets: Cash on hand $1,500.00 Checking Account $17,500.00 Savings Account $3,050.00 Accounts Receivable $14,215.87 Bank Card Receivable $1,340.34 Inventory $275,654.23 Total Current Assets: $313,260.44 Investments: Cooperative Stock $23,125.46 Cooperative Notes $12,597.47 Total Investments: $35,722.93 Long Term Assets: Property and Equipment: Fixtures and Equipment $126,245.11 Building $325,465.88 Total Property and Equipment: $451,710.99 Accumulated Depreciation: $207,950.25 Total Net Property and Equipment: $117,515.63 Other Assets: Utility Deposits $1,700.00 Total Other Assets: $1,700.00 Total Assets: $468,199.00 LIABILITIES AND EQUITY Current Liabilities: Accounts Payable $47,850.00 Building mortage - current $24,000.00 Note payable - current $45,000.00 Long Term Liabilites: Building mortgage $62,000.00 Note payable $84,000.00 Total Liabilities: $262,850.00 Stockholders' Equity Capital Stock $65,000.00 Retained Earnings $114,664.00 Current Income $25,685.00 Total Stockholders' Equity $205,349.00 Total Liabilities and Equity $468,199.00 Cash: $1,500.00 Inventory $275,654.73 Inventory turns: 3.51 www.profitsplus.org
- 6. 12/31 ASSETS Current Assets: Cash on hand $16,500.00 Checking Account $17,500.00 Savings Account $3,050.00 Accounts Receivable $14,215.87 Bank Card Receivable $1,340.34 Inventory $260,654.23 Total Current Assets: $313,260.44 Investments: Cooperative Stock $23,125.46 Cooperative Notes $12,597.47 Total Investments: $35,722.93 Long Term Assets: Property and Equipment: Fixtures and Equipment $126,245.11 Building $325,465.88 Total Property and Equipment: $451,710.99 Accumulated Depreciation: $207,950.25 Total Net Property and Equipment: $117,515.63 Other Assets: Utility Deposits $1,700.00 Total Other Assets: $1,700.00 Total Assets: $468,199.00 LIABILITIES AND EQUITY Current Liabilities: Accounts Payable $47,850.00 Building mortage - current $24,000.00 Note payable - current $45,000.00 Long Term Liabilites: Building mortgage $62,000.00 Note payable $84,000.00 Total Liabilities: $262,850.00 Stockholders' Equity Capital Stock $65,000.00 Retained Earnings $114,664.00 Current Income $25,685.00 Total Stockholders' Equity $205,349.00 Total Liabilities and Equity $468,199.00 Cash: $16,500.00 Inventory $260,654.73 Inventory turns: 3.65 www.profitsplus.org
- 11. Inventory levels per month
- 12. Sales percentage per month
- 13. Put the two side by side
- 15. If you were to create a plan to match the two
- 17. 1 Profits+Plus Open to Buy © Month 1 Month 2 Month 3 Month 4 2 Inventory - Beginning of Month E/P $155,000 $149,250 $151,930 $156,880 3 Anticipated Sales E $47,000 $48,000 $50,000 $50,000 4 P.O. # P.O. Written To: 5 Purchase Order #1 E $1,000 $2,000 $2,500 $1,000 35 Purchase Order #31 E 36 Purchase Order #32 E 37 Purchase Order #33 E 38 Total Purchases P $24,800 $33,400 $37,200 $32,000 39 40 Inventory Available for Sale P $179,800 $182,650 $189,130 $188,880 41 42 Gross Margin E 35.00% 36.00% 35.50% 37.00% 43 Cost of Goods Sold P $30,550 $30,720 $32,250 $31,500 44 45 Inventory (Actual)- End of Month P $149,250 $151,930 $156,880 $157,380 46 47 Desired Inventory - End of Month E $150,000 $152,000 $157,000 $157,000 48 49 Open to Buy for this Month P $750 $70 $120 -$380
- 18. 1 Profits+Plus Open to Buy © Month 1 Month 2 Month 3 Month 4 2 Inventory - Beginning of Month E/P $155,000 $149,250 $151,930 $156,880 3 Anticipated Sales E $47,000 $48,000 $50,000 $50,000
- 19. 1 Profits+Plus Open to Buy © Month 1 Month 2 Month 3 Month 4 42 Gross Margin E 35.00% 36.00% 35.50% 37.00% 43 Cost of Goods Sold P $30,550 $30,720 $32,250 $31,500 44 45 Inventory (Actual)- End of Month P $149,250 $151,930 $156,880 $157,380 46 47 Desired Inventory - End of Month E $150,000 $152,000 $157,000 $157,000
- 20. 1 Profits+Plus Open to Buy © B C Month 1 Month 2 Month 3 Month 4 4 P.O. # P.O. Written To: 5 Purchase Order #1 E $1,000 $2,000 $2,500 $1,000 6 Purchase Order #2 E $3,500 $5,500 $8,000 $5,500 7 Purchase Order #3 E $2,000 $3,900 $3,700 $3,000 8 Purchase Order #4 E $3,000 $7,000 $4,700 $8,000 9 Purchase Order #5 E $2,000 $6,000 $5,500 $4,500 10 Purchase Order #6 E $4,500 $2,500 $8,000 $5,000
- 21. 1 Profits+Plus Open to Buy © Month 1 Month 2 Month 3 Month 4 2 Inventory - Beginning of Month E/P $155,000 $149,250 $151,930 $156,880 3 Anticipated Sales E $47,000 $48,000 $50,000 $50,000
- 22. 1 Profits+Plus Open to Buy © Month 1 Month 2 Month 3 Month 4 35 Purchase Order #31 E 36 Purchase Order #32 E 37 Purchase Order #33 E 38 Total Purchases P $24,800 $33,400 $37,200 $32,000
- 23. 1 Profits+Plus Open to Buy © Month 1 Month 2 Month 3 Month 4 42 Gross Margin E 35.00% 36.00% 35.50% 37.00% 43 Cost of Goods Sold P $30,550 $30,720 $32,250 $31,500 44 45 Inventory (Actual)- End of Month P $149,250 $151,930 $156,880 $157,380 46 47 Desired Inventory - End of Month E $150,000 $152,000 $157,000 $157,000 48 49 Open to Buy for this Month P $750 $70 $120 -$380
- 26. 1 Profits+Plus Open to Buy © Month 1 Month 2 Month 3 Month 4 42 Gross Margin E 35.00% 36.00% 35.50% 37.00% 43 Cost of Goods Sold P $30,550 $30,720 $32,250 $31,500 44 45 Inventory (Actual)- End of Month P $149,250 $151,930 $156,880 $157,380 46 47 Desired Inventory - End of Month E $150,000 $152,000 $157,000 $157,000 48 49 Open to Buy for this Month P $750 $70 $120 -$380
- 27. Sales increase Sales decrease You under spend one month You over spend one month www.profitsplus.org
- 28. Your margin increases Your margin decreases You take mark downs You take additional mark ups www.profitsplus.org
- 29. You decide you want to increase inventory You decide you want to decrease inventory www.profitsplus.org
- 32. If you are always putting out fires in your business, you may be the person carrying the matches! www.profitsplus.org