Recording Receipts and Sales
In This Chapter
Recording sales and payments — everything you need to know
Keeping things real simple with cash accounting
Doing the books for other kinds of income
Staying wise to who owes what
Triumphing over tricky situations
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 ...