In this issue
Client Kickstarter Fundraising Success
Only the English Could Have Invented this Language
Get Paid Faster!
Turn a Bad Experience into a Good One
Deadlines and Reminders
Parfrey Murphy: Chartered Accountants
November 2012

Follow us on facebookFollow us on twitterFollow us on linkedIn
Useful Links
Subscribe

Send to a friend

Archive

Visit our website

Visit our blog
PM Services

Contact
Parfrey Murphy
Chartered Accountants
Lee View House
South Terrace
Cork
Ireland

T: +353 (0)21 4310266
E: pm@parfreymurphy.ie
E-Newsletter November 2012Parfrey Murphy: Chartered Accountants
Parfrey Murphy: Chartered Accountants

We are always researching how we can make your business grow and prosper by reading business books, attending courses and trawling the internet. One idea can make a huge financial difference to you.

You will get some great ideas from our monthly newsletters. Please email them to your friends and colleagues if you find them useful.

Our aim is to help our clients increase their profitability, improve their cash flow and reduce their tax liabilities so that they have more disposable income.  Please feel free to call us on 021 4310266 or email us at pm@parfreymurphy.ie if you wish to do business with us.

Client Kickstarter Fundraising Success

In our June 2012 newsletter we featured Peter Cox and his Kickstart Fundraising initiative.

Peter raised over €30,000 within 4 weeks which was over 3.5 times the amount he had intended to raise. This was the third most successful photographic Kickstarter project ever. 

He had a total of 341 subscribers who were mostly living outside Ireland. The majority of subscribers pledged between €50 and €60.

His book titled “The Irish Light – A Collection of Landscape Photographers” is now available for €29.95 from www.petercox.ie. It is a high quality, coffee table book featuring 90 images over 128 pages with the foreword by world-renowned landscape photographer Joe Cornish. It features the best of Peter’s work over 7 years featuring Irish landscapes.

The front cover image was 5 years in the making as Peter was waiting patiently for the right storm conditions.

Peter has been recently awarded a fellowship from the Irish Professional Photographers Association on the strength of his collection and he hopes to further establish his gallery in Killarney and produce another book.

LikeLike (0) | Share this article | 0 Comments

Only the English Could Have Invented this Language

We’ll begin with a box, and the plural is boxes,
But the plural of ox becomes oxen, not oxes.
One fowl is a goose, but two are called geese,
Yet the plural of moose should never be meese.
You may find a lone mouse or a nest full of mice,
Yet the plural of house is houses, not hice.


If the plural of man is always called men,
Then shouldn’t the plural of pan be called pen?
If I speak of my foot and show you my feet,
And I give you a boot, would a pair be called beet?
If one is a tooth and a whole set are teeth,
Why shouldn’t the plural of booth be called beeth?


Then one may be that, and three would be those,
Yet hat in the plural would never be hose,
And the plural of cat is cats, not cose.
We speak of a brother and also of brethren,
But though we say mother, we never say methren.
Then the masculine pronouns are he, his and him,
But imagine the feminine: she, shis and shim!


Let’s face it – English is a crazy old tongue
There is no egg in eggplant nor ham in hamburger;
neither apple nor pine in pineapple.
English muffins weren’t invented in England .
We take English for granted, but if we explore its paradoxes,
we find that quicksand can work slowly, boxing rings are square,
and a guinea pig is neither from Guinea nor is it a pig.

{Read more}
LikeLike (1) | Share this article | 0 Comments

Get Paid Faster!

Healthy cash-flow is key for  businesses.

Improving your cash-flow could be as simple as changing the wording on your invoices. So whenever someone comes up with empirically-based, simple ways to get paid faster, business owners take note.

FreshBooks, the cloud-accounting company, is in possession of not only reams of real-world invoices for their customers but also plenty of hard numbers on exactly how quickly they were paid. So they sifted through this data to determine what helps to get paid quickly.

They recommend:

Be Polite. The first thing they noticed in the data is that being polite really matters! A simple "please pay your invoice within" or "thank you for your business" can increase the percentage of invoices that are paid by more than 5 percent! Not only that, but politeness clearly gets you paid faster.

Days to Pay. Using the word "days" as opposed to "net" gets you paid more often and faster. While the words "net 30" or similar may make sense to some business owners, perhaps that kind of wording is not as clear as it should be.

Dump "Upon Receipt." Most people seem to interpret "upon receipt" as "whenever you feel like it." It's as if they receive an invoice with the words "payable upon receipt" and immediately dump it into the "whenever" pile. Using specific terms such as "21 days" seems to focus the customer’s mind around a specific timeframe and will actually get you paid faster than asking for immediate payment.

These small edits clearly caused invoices to be paid faster according to FreshBooks's analysis.

One other change also affected when an invoice was paid but involves a  trade-off. Declaring that interest will be charged on late payments, it seems, "gets you paid slower, but it also seems to ensure a higher percentage of invoices will get paid."

What exactly does all of this mean for your business?

According to Freshbooks, if getting paid quickly is most important to you, the company suggests adding this line, or something very similar, to your invoice: "Thank you; we really appreciate your business. Please send payment within 21 days of receiving this invoice." Polite and clear!

LikeLike (1) | Share this article | 0 Comments

Turn a Bad Experience into a Good One

Analyse a recent failure using these questions. Your answers should help put things into perspective.

1. What caused the failure: the situation, someone else, or myself?

2. Was what happened truly a failure, or did I just fall short?

3.
What successes are contained in the failure?

4. What can I learn from what happened?

5. Am I grateful for the experience?

6. How can I turn this into a success?

7.
Who can help me with this issue?

8. Where do I go from here? 

LikeLike (0) | Share this article | 0 Comments

Deadlines and Reminders
 
Sinead Herlihy

1 - 21 December

Corporation Tax

  • Preliminary Tax for acccounting periods ending between 1 - 31 January 2013
  • First instalment of preliminary tax for "Large Companies" with a financial year ending between 1 - 30 June 2013
  • Returns for accounting periods ending between 1 - 31 March 2012
  • Pay balance of tax due on accounting periods ending between 1 - 31 March 2012
  • Returns of third party information for accounting periods ending between 1 - 31 March 2012

14 December 

  • PAYE / PRSI* - P30 monthly return and payment for November 2012
  • Dividend Witholding Tax return and payment for November 2012

23 December

  • Relevent Contracts Tax return and payment for November 2012


*Note: Where returns and payments are made electronically, the return and payment deadlines are the 23rd day of the month. 

15 December 

  • Payment of CGT in respect of disposals carried out between 1 January 2012 and 30 November 2012.
LikeLike (0) | Share this article | 0 Comments
Newsletter Marketing Powered by Newsweaver