Accounting for Expenses As Listed in Schedule C

Now, refer to Schedule C to make sure that your budget accounts for all expenses and income that will be listed on that document.

You'll need list

  • Business and home budget spreadsheets

  • Business plan

  • Calculator, if desired

Listing Gross Receipts, Returns, and Costs of Goods Sold

Though you might have little or no entries for some of these categories, as appropriate, make sure that these lines are complete:

  • Line 1. Gross receipts. Meaning all the income generated. We'll cover this more when we discuss pricing.

  • Line 2. Returns and allowances. These are actual product returns. So, if you are selling widgets, ...

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