ChatterBank1 min ago
Company runs at a loss but is there any profit?
1 Answers
Hello everyone
Here is my situation - I work for a design company - last summer, we were told by our boss, that should the company be doing OK, bonuses would be awarded every 6 months as opposed to the usual end of year thing. Also my own position has changed and I now work as a project manager. Upon being given this position a few months back, I was told that I would be involved in a profit share scheme too. SO currently Ive not seen a bit of the profit share nor has any mention been made of the 6 month bonus which should have occurred last month. we are manically busy, job shave been coming in, getting done, money coming in, but in our boss keeps mentioning that the company is 'running at a loss'. Now, Ive been told by many people that it is not unusual to run a company at a loss for tax reasons, and still make a profit. Which leads me to my question - does anyone have any ideas on how I should approach my boss with this delicate subject to enquire about profits and bonus? When I was offered my new position I was told a contract would appear as I was going to be involved in profit share and that was legally required.
Sorry if thats a bit long-winded but any advice very welcome.
In other news, Ive been there for 5.5 years and we used to get paid by cheque on the 25th of each month, allowing us 3 days for things to clear. Last month we moved to BACS and pay didnt appear til the start of the next month - this actually had a knock on effect for money going out of my account and led to me being overdrawn - I queried this but was told that we always get paid at the end of the month and that the appearance of cheques on the 25th wer just to give us more time to pay it in. My argument was that custom and practice led me to believe that the 25th was the date I should always get paid on - any ideas if Im in the right or wrong in trying to restablish the pay date of 25th? Cheers!
Here is my situation - I work for a design company - last summer, we were told by our boss, that should the company be doing OK, bonuses would be awarded every 6 months as opposed to the usual end of year thing. Also my own position has changed and I now work as a project manager. Upon being given this position a few months back, I was told that I would be involved in a profit share scheme too. SO currently Ive not seen a bit of the profit share nor has any mention been made of the 6 month bonus which should have occurred last month. we are manically busy, job shave been coming in, getting done, money coming in, but in our boss keeps mentioning that the company is 'running at a loss'. Now, Ive been told by many people that it is not unusual to run a company at a loss for tax reasons, and still make a profit. Which leads me to my question - does anyone have any ideas on how I should approach my boss with this delicate subject to enquire about profits and bonus? When I was offered my new position I was told a contract would appear as I was going to be involved in profit share and that was legally required.
Sorry if thats a bit long-winded but any advice very welcome.
In other news, Ive been there for 5.5 years and we used to get paid by cheque on the 25th of each month, allowing us 3 days for things to clear. Last month we moved to BACS and pay didnt appear til the start of the next month - this actually had a knock on effect for money going out of my account and led to me being overdrawn - I queried this but was told that we always get paid at the end of the month and that the appearance of cheques on the 25th wer just to give us more time to pay it in. My argument was that custom and practice led me to believe that the 25th was the date I should always get paid on - any ideas if Im in the right or wrong in trying to restablish the pay date of 25th? Cheers!
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