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Balance
Topic Started: Nov 26 2007, 08:50 PM (259 Views)
NickChenery
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Managing Director
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Hey all,

If you have money which we've earnt that needs to be paid into the account, please speak to Bruno, Woody or Sam Cann (Finance Directors).
If you would like to withdraw money for your project, please speak to one of the Finance Directors (listed above), and then Nick before a cheque is written on your behalf.
Can all transactions be recorded on here please, so we know what has happened.

Thanks
Nick

_______

Account Inputs: -
26th Nov Share Issue - £80 - Completed
2nd December Christmas Card Sales - £150
Total (Inputs) - £230
_______

Account Outputs: -
Christmas Card Production Costs - £48.63
Advertising For Christmas Cards - £8
Lou's Ribbon for Christmas Cards - £1.25 Paid
Pending £80 owed to Mrs. Flude (YE Registration Fee)
Total (Outputs) £53.88
_______

CURRENT BALANCE - £176.12
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SamCann
Financial Director
[ *  *  *  * ]
This is a good idea (you finally had one Nick!!).

Basically this is so you can all check up on our profit status, see how many millions we are raking in. We'll probably go over the company's budget status in most meetings as well.
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NickChenery
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Managing Director
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Oi Sam. You know I'm full of them.

Quote:
 
"...see how many millions we are raking in."
This is def going to happen.

On a more serious note please have a look at this every so often; it's quite important and as members of ICE I think everyone is entitled to know our financial situation. Please do not discuss this company-sensitive information with non-ICE members. It is unfair and undermines our work for such statistics to be made public.
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WillLopez
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Senior Member
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Just so we dont forget, I will still need to collect the production costs for the Christmas Cards (around £1.20 per pack).
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BrunoLee
Newbie
[ * ]
I will update the financial information every week after putting the money in every Tuesday.

I am in charge of the financial information associated with Christmas Cards project only.

If you are curious about other financial issues, please contact Sam or Woody.
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NickChenery
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Managing Director
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Hold on... Will quoted me £14 for 1750 A4 advert pages (corresponding to 3500 total A5 adverts) and he has now told me he only printed 1000 A4 pages (corresponding to 2000 total A5 adverts).
This means £14 ÷ 1750sheets = £0.008/page.
Therefore £0.008 x 1000 sheets = £8. So what's all this about?
Quote:
 
Account Outputs: -
Advertising For Christmas Cards - £10
I know we have advertisements up around the school but I believe that they were printed on the School's printers, so there should be no cost for them.
Can someone clarify the situation please; £10 is clearly incorrect.

Also;
Quote:
 
Christmas Card Production Costs - £44.54
I think this might be wrong as Will quoted me £1.20 per pack of 10 cards as the cost. If this has changed it needs to be written down here. I don't see how we can have a value ending with 54p.
Will or Sam (Sam you appear to have edited this last) can you tell me what's going on please, urgently.

Nick.
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SamCann
Financial Director
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Ok, well here is the information I was given by Will today:

The basic cost for a pack of 10 cards is £1.11.

They have upgraded to a better quality paper which costs £3.99 for a ream of 50 as opposed to £2.99, adding 2p to the cost of each card.

This means the cost of a pack of 10 increases by 20p, hence the £1.31 charge per card.

If this is incorrect, please tell me and I'll update the figures accordingly.
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BrunoLee
Newbie
[ * ]
173.37-80= 93.37 = last current balance


-------------------------------------------

Total input.

230+66 = 296

*therefore, there should be £296 in total in out company bank account

-------------------------------------------

Total cash out
48.63 + 8 + 80 = 136.63


--------------------------------------

NET BALANCE (eventually we will have)

£159.37
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SamCann
Financial Director
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I'm still not sure where this additional £66 comes from....

We had £150 total from all the card sales, plus an additional £80 total from share sales. As far as I'm aware, we have no other source of income at the moment?
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NickChenery
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Managing Director
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I have written a cheque for Lou for the ribbon.
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WillLopez
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Senior Member
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I haven't checked the Christmas card sales, but for the advert, it's £8 not £4!

I typed it in wrong, but have now changed it!
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