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Discussion - The Staff at Faye and Bubbles' New Business

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A small perverse otter:
As someone who spends entirely too much time dealing with the bookkeeping at a startup, F & B have a lot of problems before accounting/bookkeeping need attention. It's not important to handle AR when you don't have any A's to R; similarly AP.

What they will need to do is figure out the partnership structure -- do they incorporate or are they equal partners? what happens in the event of dissolution? if a partnership, who handles and owns the bank accounts? ... there are a lot of things.

Bizarre at it may seem, they need, first of all, to retain a lawyer.

JimC:
Grief, cart before horse or what?

Employees have to be paid no matter, the principals can starve together evenly. So no employees until you know what you are going to earn. On the accounts side all that's needed initially is to diligently record everything. Unless things are very different to over here there will be plenty of self employed accounts folk who will come in once a month, once a week or whatever for an afternoon to do what's needed beyond that. In the UK for something as small as this I'm not sure they need to have a partnership at all. Partnership comes with liabilities to each other, far better initially ( at least when I was last doing this sort of thing a good few years ago now) to be separate individuals responsible for their own debts and credits.. 

Faye is going to need to get some customer care skills and fast.  You ca't treat the morons with contempt when you need every moron who walks through the door. Bubbles has by far the greater technical skills (she was training Fay eg May's first skin job) and I bet she's faster too so they need to prioritise her time at work so Faye just has to get her act together and learn to suffer fools joyfully.

Kugai:
If worst comes to worst, they could get sound advice from Dora about Business Accounting. Running CoD has probably taught her a lot, and as Co-signer, she'd have a vested interest  in seeing that they do  well and  run the place and its  finances properly

JoeCovenant:

--- Quote from: Kugai on 06 Apr 2017, 22:01 ---If worst comes to worst, they could get sound advice from Dora about Business Accounting. Running CoD has probably taught her a lot, and as Co-signer, she'd have a vested interest  in seeing that they do  well and  run the place and its  finances properly

--- End quote ---

Couldn't Bubbles just install Your First Business 101.exe ?

:)

Also... I'm sure Punchbot could give a LOT of advice.

shanejayell:
They probably WILL need a secretary/receptionist who has CPA skills maybe.

I'm oddly tempted to suggest they swipe Hanners, but I dunno how well she'd do in a greasy, dirty robot repair place...  :-D :-P

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