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The Complete Idiot's Guide® To Accounting by Lita Epstein, Shellie L. Moore

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Chapter 7
Tracking Sales
In This Chapter
• Rolling in dough
• Giving credit
• Knowing your receipts
• Controlling the take
All businesspeople enjoy selling their products and taking in the money. But along with that fun come some necessary accounting tasks. These tasks include practicing good money collection methods, carefully filing records related to the sales, and following through on proper procedures to be sure sales are accurately recorded.
Cash sales are the easiest to record and monitor, but few businesses operate solely by cash. You also need to know how to handle credit sales and accounts receivable and establish internal control procedures to be sure you get all the money your sales have earned. This chapter gives you the information ...

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