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Contractors weekly pay calculation

Contractors receive payments weekly.  What software is there to process their weekly income please.  The contractors want to know each week how much they can get paid safely from their companies. It there any software that can help to process this weekly?  For example

Invoice value

Less:  Deductions

Telephone

Travel

Postage

Travel and subsistance

Salary

PAYE

Profit before tax

Corporation tax

Amount to distribute etc.

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17th Jan 2013 10:37

Shouldn't be too tricky!

Surely you use the same process as for informing your clients how much profit they have available on a monthly basis, but adjust it to a weekly basis?

I provide my clients with a spreadsheet which is simple for them to complete, and which gives a good estimate of the amount of profit available to distribute.  My spreadsheet calculates figures on a monthly basis, but it wouldn't be at all tricky to do it weekly instead.  I do of course review their figures regularly, and produce management accounts on a quarterly basis.  The spreadsheet just helps with calculating available profit in the meantime.

Are they really wanting to take weekly dividends?  That seems to be an awful lot of administration (dividend tax voucher, weekly board meetings etc) when they could just take a monthly dividend instead.

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25th Jan 2013 17:19

Thank you very much

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