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An Accountants’ Way of Getting Over Bank Holiday Blues - Able Accountants

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ban holiday blues able accountantsHere in May we have the benefit of not just one but two bank holiday Mondays, the most in any month during the year.

From a personal perspective this is great news – two longer weekends, and then shorter working weeks afterwards. And to top things off even more, this last one was great weather.

However, from a business perspective this can cause issues. And when you see the knock-on effect in your accounts and finances you can suddenly start feeling the pinch and bank-holiday blues.

Getting on Top of Bank Holidays

Therefore, here are a few pointers to help reduce the impact by seeing what to look out for and planning accordingly.

Whether you’re involved with the issues of running a large company, or you’re simply planning your own schedule, these pointers will certainly help you get the most out these forthcoming bank holiday weekends.

1. Salaries & Sickness

For those on fixed salaries, it’s nice to have the same level of expenditure as any other month, although in context of less productivity then this is technically at a loss.

Although, saying that, there is an argument that that people will be more refreshed from these breaks and so more productive when back at work – erm, not sure if this happens in reality though.

In actual fact, just watch out for sicknesses cropping in as well, whether genuine cases after people have been on holiday, or possibly more contrived and people wanting time off on the previous Friday or following Tuesday to benefit from the good weather.

For those on more flexible day-rate salaries, these should be less of an outgoing if they’re not working, although be careful they don’t increase if you need to bring in extra help or higher rates.

Other overheads can still be ticking away, for example property costs, however there will be some that won’t necessarily be as large due to less use in this month, for example reduced utility usage if people are not at the workplace.

2. Turnover & Income

As mentioned above, there is bound to be less turnover and sales with simply less working hours, although this all depends upon the type of business you’re running.

So an ice-cream van business this last bank holiday will have sales through the roof with both a bank holiday with people off, and such great weather.

And watch out for any turnover changes just before and after each holiday, so, sudden orders just before, and a slower response possibly afterwards.

3. Delays & Duties

And finally, just watch out for different speeds of working during and either side of the bank holidays.

So, traffic could be manic and slow things down, although can be better on, say, the following Tuesday when people are not all back at work, particularly with this forthcoming one with a lot of half-term holidays for schools.

Plus, we’re all human, and people will need wind-down and wind-up time either side of such holidays which may also affect the productivity-purse of the business.

No More Bank Holiday Blues

So, these above pointers can help you be ahead of the bank-holiday game and make sure they don’t spoil your business and finances whilst you enjoy the extra break.

And although we’re one-down already for May, there’s still time to plan for the one at the end of May and then others later on in the year as well.

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