Hi Guys, here are tips to make a simple financial report. The administration financial reports order is very important, because a store the administration is not good will soon hit hard by the losses stem from the negligence. The problem is, the shopkeepers are still difficult to make simple financial reports, yet open retail stores do not have to use the books as in large corporations. Number of incoming and outgoing money was never recorded. The reason is that lazy, troublesome and did not have time. Then how to measure the progress of a store if without doing any bookkeeping?
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http://www.reportingsoftware.info/2011/01/banded-reports-are-evil.html Let’s we discuss about financial report. There is one simple way to record that is to record all the profits to buy the collected every times a week or a month or a year. The excess purchase price as profit to be collected is calculated. Of the benefits that can be summed known yearly profit growth. From the report it is unknown whether a store or not making progress. If it turns out in a year note gained enough profits, then the store owner can plan an investment with the goal of business expansion in an amount not exceeding gains in a year.
You can also use different ways to the above, namely by recording every time there is the income and expenditure that day. For example, the products sold today all these numbers, and its expenditures such as paying bills, paying electricity, water, and telephone recording the same day. By noting the flow of incoming and outgoing funds, shop owners can evaluate the size of the existing income with expenditure. When there is imbalance occurs because so many paying the bills, should check whether the items in the store seemed stacked or otherwise.
That was two store concepts to calculate the development effort, which in daily practice is necessary aids such as daily journals, ledgers, statements of Profit and Loss, and Balance. But for entrepreneurs create and compile reports of Income Balance Sheet is often confusing, I suggest you should run the model daily bookkeeping simpler, by using the model of daily cash books and notepads goods.
Daily Cash Book for example, the model side by side in a single notebook, which the left to record money in and that the right to record the money out. Each with the columns: No. - Date - Description - Amount. If later added, between the revenue (debit) with the expenditure (credit) there is difference, the difference is called balance. With daily cash book every day this then you can calculate the income and expenditure.
Furthermore, every month you stay moving into the consolidated Profit and Loss. The trick is to add up the total income first and then minus the total amount of spending for a month. Thus can be detected position gain or loss by calculating the difference between income and expenditure you shop for a month.
In addition to daily cash book, you also need to make a book Goods entry. Any item of value and relate to your business needs to be noted. To more easily you can divide it into 2 categories, namely capital goods and merchandise. Capital items such as benches, shelving, stationery, desks, chairs, air conditioners, vehicles and so forth. Anyway, all goods are deliberately held to support the operation of your business. This notebook you can also call the book inventory records.
Then the second is the Note Book Trade in Goods, the goods you sell. All must be recorded, before the goods are sold on record, when sold, too (come) was recorded in cash book daily, and after you have sold any note.
You can also include a Book of Special Note regarding the cost of depreciation. Depreciation costs can actually be viewed as spending daily / weekly / monthly. This means that these costs can you spend daily, weekly or monthly, for then collected during a specific period that you set as the limit of the productive period for these items. Thus, each item must be calculated the depreciation cost of investment.
Suppose you open a shop with a two-year kiosk contract USD $480, mean USD $20 per month. That is, the cost of depreciation should you spend is USD $20, - per month. So in two years will be pooled fund of USD $480, the amount of money the place of contract. Similarly, if you buy a vehicle operation, you must calculate how many years of productive vehicle. So enter the depreciation costs as routine costs per month.
Well, for the preparation of Balance Sheet is conducted after the 3rd book was completed in record created at a specific time period. Balance Sheet as we know it consists of 2 columns of Property & Debt. If there are profits (revenues minus the excess of expenditures or costs) contained in the statement of income can increase the amount of wealth in cash. Goods inventory and the remaining stock of merchandise was also inserted into the property column. So is the accumulated costs of depreciation is inserted into the property column.
Thus you can see the sequence of preparation of financial statements and are all closely interrelated with each other. The point is one indication of business development is the increasing number of assets in the consolidated balance sheet. And the growing number of property depends on how much profit can be booked in the consolidated profit and loss.
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