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Let me start off by saying this might be all over the place. My brain was frazzled by Friday evening and the weekend just made it worse.
1. Does anybody take a certain percentage of daycare income for their paycheck? I've got the business plan, the projected income/expenses, the current income/expenses, etc. In front of me. I'm assuming some people just pay themselves as needed while others just use 1 account for daycare/personal. To be brutally honest I feel that having seperate accounts for daycare/personal is in my best interest at this time. I'm just nervous about paying myself as needed because I have had trouble in the past with need versus want & am very scared of screwing this up. I can look at the #'s and figures all I want and see what I should be able to pay myself each month but I'm nervous about moving that money, spending it on a want, and then needing $$ for something. I'm thinking that by paying myself a certain percentage of the daycare income (10-15%) I won't be as anxious over the whole thing. Thought, opinions? FWIW I live debt free & just have basic bills to pay each month ($600 per month between daycare & personal)
2. For those with seperate business/personal accounts...when it comes to utility bills (shared expense btwn daycare & personal) do you write 2 checks (one for the personal portion, one for the business portion) or just write 1 personal check & reimburse from the business account?
3. Along the same lines as question #2, I've been using my T/S% to figure out business/personal portion. Is this correct or am I totally off the mark?
Thanks in advance!
1. Does anybody take a certain percentage of daycare income for their paycheck? I've got the business plan, the projected income/expenses, the current income/expenses, etc. In front of me. I'm assuming some people just pay themselves as needed while others just use 1 account for daycare/personal. To be brutally honest I feel that having seperate accounts for daycare/personal is in my best interest at this time. I'm just nervous about paying myself as needed because I have had trouble in the past with need versus want & am very scared of screwing this up. I can look at the #'s and figures all I want and see what I should be able to pay myself each month but I'm nervous about moving that money, spending it on a want, and then needing $$ for something. I'm thinking that by paying myself a certain percentage of the daycare income (10-15%) I won't be as anxious over the whole thing. Thought, opinions? FWIW I live debt free & just have basic bills to pay each month ($600 per month between daycare & personal)
2. For those with seperate business/personal accounts...when it comes to utility bills (shared expense btwn daycare & personal) do you write 2 checks (one for the personal portion, one for the business portion) or just write 1 personal check & reimburse from the business account?
3. Along the same lines as question #2, I've been using my T/S% to figure out business/personal portion. Is this correct or am I totally off the mark?
Thanks in advance!