Chapter 8

Recording Receipts and Sales

In This Chapter

arrow.png Recording sales and payments — everything you need to know

arrow.png Keeping things real simple with cash accounting

arrow.png Doing the books for other kinds of income

arrow.png Staying wise to who owes what

arrow.png Triumphing over tricky situations

arrow.png Keeping tabs on the cash and making sure no money goes astray

Everyone loves to receive money. I know I do. And so the part of bookkeeping where you get to record sales and match up customer payments is kind of fun.

Keeping tabs on how much customers owe is life-and-death stuff. If a business doesn’t chase customers for overdue accounts or extends too much credit without realising, the consequences can get pretty dire. As a bookkeeper, your job is to make sure the books are accurate and up to date, and to keep on the back of recalcitrant payers.

In this chapter, I explain how to keep a simple cash receipts register, and ...

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