What Type Of Worksheet/form Do You Use To Record And Keep Up With – Purchases For, Sales , And Inventory?
I recently purchased one combo snack/soda vending machine for my business. instead of a software program can someone suggest in detail how I should record the accounting manually? lists ? ledger , collum headings etc…
Tags: Inventory, Keep, Purchases, Record, Sales, Type, What, With, Worksheet/form
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on Tuesday, November 10th, 2009 at 12:39 pm and is filed under Buying Vending Machines.
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November 10th, 2009 at 6:49 pm
Do you have Microsoft Excel and know how to use it? Or do you plan to do this with pen & paper?
[Will answer accordingly.]
Update on answer for pen & paper:
You need to track what goes out and what comes in. For your CPA or bookkeeper it will help if you do this in their kind of format:
Make three columns, the left hand one is widest, the next two are for figures.
The left side will be for writing dates and actions (i.e. filled machine or collected money from machine). The second column is “debit” or incoming, the third column is “credit” or outgoing. If it helps you, you should write “incoming” & “outgoing” or just “+” & “-” at the top.
Each time you make a purchase of items to put in the machine you put the date and what you did (as much detail as you need or as little as “filled machine” in the far left column). On the same line then put under credit/outgoing/”-” the amount you spent.
Each time you take money out of the machine and put it in the bank or petty cash, put the date in the left column and under debit/incoming/”+” put how much you collected.
At any point if you want to know if you are gaining or losing you can add the columns and see if “+” or “-” is bigger. But don’t put those totals in the columns if you can avoid it – you (or someone else) might accidentally add them to the real numbers later. If you want to keep track make a 4th column at the right that you can put the “balance” in, or the gain/loss.
Hope this makes sense, if not tell me and I’ll try to help.