Create Your Receipt for Services Rendered for Accounting Effortlessly

Receipt for services rendered for Accounting

right right aids and as mentioned in the PowerPoint presentation I said I will also explain and show you the example on the whiteboard just to perhaps make it a bit easier for you and those of you who are working in the journal books the physical books are not in the work or on the worksheet and I've just got to yeah this one says eight column cash journal and remember we saved in this journal books we never work on a single page we work on a double page so I've just shown you that and this is one way of doing it this one this book doesn't have the details or the be bigger details column at the end but you can still use it and just adjust with a little bit so that you can use it for your journal so this one is perfectly fine this is an eighth column cash journal and then the one that I've used in my example is the 8th column created this journal so once again over a double page but you will see that this one has a bit of a spice for the details at the end but as long as you have columns you can actually draw columns of your hand as well it doesn't really matter if you might use of the actual journal books so what we have here on the board is saying the format for the cash receipts journal and and this example was for sporky electricians this is on the PowerPoint presentation as well so they say to us we must open columns for analysis of receipt bank current income and sundry accounts so let's see how do we do this journal and I'm going to do it with you on the whiteboard this example and they said we must close off the journal at the end of the month month which we will do and this is for March 2019 so if we need to recruit the transactions how do we do it we always first thought by giving a leading to your journal this is very important Craig writes so let's do this at the top we will say cash siege journal off and then you write that business's name the name of the business this one is spunky electricians electricians then you make a dash and then you write the month and then yeah this was for March 2019 so much 2019 and then we said we need to number our journals now this one that didn't give us the number so how do we know which number to use if you go to the very first strength section it's a say a Sparky store to these business by depositing and and so on so we know this is a brand new business so therefore we will number LC or J number one if you can see it's a business that's already been operating for a couple of months and that do not give you a number you can use anyone but if it's a brand new business you obviously have to start with one ok so let's go to the transactions on the first it's Spock is sold his business by depositing a hundred thousand read by if T in the current bank account of the business ok so the first column that we have here is the document number column in that column we write down the number of the source document from which we got the their information to record that with a transaction so in this guy's what is our source document then the owner deposited this money translate this money via if T so we will we see this transaction we will see it on the business's bank statement so they for our document number or document in disguise is bx4 bank statement the day is the guide on which the transaction took place it's on the first and in the details column we write who gave us the money or why did we receive the money and this guy's we write ace spoken this is the owner and he gave a sermon the folio column just in front of your first money corner and easy thing and not used in great age we will only use it in grade 9 but I prefer you to write folio then you're aware of that small little column but we don't write anything in turn they make it to our analysis of receipts columns now remember we say the analysis of receipts column is like the toll in the business we only record amounts in this column or transactions in this column if we physically receive the money in the store all right now and this hundred thousand and at the owner guy goes did he come with a bag big bag of money and guys give us the hundred thousand rent they in the toll in the office for that matter no first of all it is actually very responsible to walk around with that amount of money and and and that's why it's much easier to rather deposit the money straight into the bank account so he didn't get the money in the toe in the store so we can't drive and we won't write anything day so that hundred thousand drag was deposited directly in the business's bank again so all money that we receive must be deposited in the bank account and written day for in the bank column some of them will be facing analysis and banging bank but ultimately much must end up in bank because it needs to show us that this is all the cash that we received during this month okay once we say okay the money we received it in the bank we recorded it in the bank column now we need to say why did we receive the money so why did we receive this money because the Elric started this business so he got that money as capital to the business now we ask ourself is there a column for capital no we only have analysis Bank egg current income cell for any transaction that doesn't have its own column we go to the sundry account so in the sangria comes under amount you will write hundred thousand the folio column we this folio column we will deal with a little bit lighting the year when we do posting to the ledger but from now we're not doing anything so you can just leave it open and then the details probably right why did we receive this money what is the account that's involved in this transaction and Becky's capital because the owner spotted the business he guided her money at Capital happy with that transaction good let's move on to the second on the 2nd of March sublet a port of the building to be clever for 2,600 rent and it should proceed Sierra Sierra 1 so they we have a document number the I assume the tenants came into the store 2600 so quite a bit of money but anyway might be he brought the cash maybe he paid us with a check that didn't mention it they but the fact of the matter is we did receive the money in the store in the business because we should receive so a document number is 0 0 1 that's for the receipt the dye is there second who gave us this money wine if we get it be clever gave us this money good we leave the fire column for now in great ice did we receive this money in the tow in the storm yes so we're going to put it in B analysis of receipts corner now great it's before you go and put the money in the bank you always need to check isn't there another transaction that has taken place on that day will we receive money in the tow put money in the top so if you let your ass go down you will see the cat so on the second the cash register all shout 3,500 for services rendered so there is another transaction so I am NOT going to put the money in the bank yet because remember we said we help me go to the back once a die at the end of the day so you leave the bank column open from now it will get there now now right then you ask yourself why did we receive this 2600 rent because the tenant paid us rains is there a column for range income in our coj No so therefore we move over to that sundry accounts 2600 we leave the folio column for now and we state the name of the account now remember in a business we can have rent income and rent expense so please write don't just write linked right rent income so that you don't get confused especially when we do post into the ledger and just trust me on that one right that means income that's the name of the account good so then we come to the second transaction on the seat and then I see the cash register all showed 3,500 for services rendered for the day so our document will then be see our or actually just a roll and that's what we use but some things book also and speak about CR T for cash leave just the type oh they're my critique and and that also represents casually just a roll ilex it in your grocery you can use and whatever and but I speak to see or make me die if so the second so we do not usually repeat the the day if it's already written down there it makes it makes it easier for us to and find transactions and it cites time and weather counting we always working against time so leave out like you don't have to write good why don't we receive this money for services thing but we don't have a specific person's name because obviously it might be a couple of people and to whom we render the service so our details will just be services drained it and I believe the fire column happen we definitely receive this money in the store in the top because it's ing to the cash register roll me so we put there 3500 in analysis of receipt good now you check is there another transaction on this secret no so now we can say okay it's the end of the day and we've recorded all the transactions that and applied to our toll and we've ended them what we can do now is our markets we draw a line that means we close the top right we closed it all and then we take the money to that bank now what do we do we add these two amounts 2600 plus 2500 that gives me 6100 and we write it in line on the last line of that guy's transaction so we will run over year 6100 so that is what we deposited into the business this bank account for that day good but now we mustn't forget about this 3500 name we haven't taken it to the other column or another account why did we receive this money because we reigned at a service services arraignment what name do we use what account name do we use we use current income so you're going to cut down in line with this transaction we're going to write 3,500 good that it's a bit skewed now it means your order just rotted a bit down 3500 great that was being on that second their fourteenth cash receipts for services rendered 940 right ing to the cash register oh so we backed out via the document number is again C or or the die is the fourteenth why did we receive this money from who they didn't give us a nine but we received it because we're in debt services good we definitely receive this money in the toe because it's casually just a row and that is nine hundred and forty ranks are we going to write it in analysis of receipt chick is there another transaction that happened on this day no so at the end of the day I can close little and I take the money to the bank 940 then you ask yourself why did I receive this money because I leaned it as service what is service this arraigned it's counter 19 businesses books current income so I go to my planet income : and I write 900 good last one on the 31st the back stipend from even be shows an amount of a hundred and nine read receives as interest so when we get our document number corner in this case we saw this transaction on that Bank stipend that is our source document the daddy is that 31st why did we receive this money or from whom did we receive this money that guy must even be that's where we bank so we write in our details column if B then we receive this 199 interest in the stall that's one of the figures of even become and give us that hundred the 9 grand said if we can put it in little no the bank automatically added it on to our bank accounts balance because we had a positive bank balance so we did not get the money in the tow between straight into a bank account it was added onto our bank balance a hundred and nine read write so easy back now we ask ourselves why did we give this money why did we receive this money because we received interest is the column for interest no so I go to the sundry accounts so instantly accounts all right 109 I leave the folio column for now and my reason or my count that's affected is interest income once again just like what rent income we also can have interest expense so therefore it's important to indicate interest income or interest expense and obviously if we receive interest exact income to the best with us good now we check that's the end of the month there's no other transactions they did ask us to close off the journal at the end of the month that means we need to get an totals for all of our money columns so we draw a line now mine is going to be freehand so please be with me we draw a line there are very important we never ever add the analysis of receipt column we never ever get it totally why is this money that work that we received in the zone is it still in the top no it's not every time at the end of the day we took the money to that Bank so basically at the end of the month there's nothing left yeah all of that money has been deposited into the bank account and therefore we never get a total folder analysis of receipts column but we need to talk to our other comments so let's do that so now you add a hundred thousand plus six thousand one hundred plus nine hundred and forty plus a hundred and nine Rend and if you do that on your calculator you shoot gate and please double-check me hundred and seven one four nine hundred and seven one four nine good then we go on to the next column current income if you add that you should get four four four zero thirty five thousand three thousand five hundred and not plus nine hundred and forty being the last column is house sundry accounts hundred thousand plus two thousand six hundred blasts a hundred and nine and that should give you wonder than to 709 good now one way of a mute checking whether you've done your calculation security because we know sometimes we pick something wrong on the calculator or a minus instead of a plus and so on is that my bank account oh my back columns Tonto must always be equal to all my other money columns so hundred and seven one four nine must be equal to four four four zero blast I'm gonna do 7:09 so you can add them up and then it should show you that these do added together do give you one else even one four nine so that is just a way of checking why else should it be room we said for every divot in our businesses books they should be created now that means my bank account we get to that what a bit like that these my bank account will be debited with this total and my other accounts will all be created it can you also see remember we take this away because these amounts have been transferred to bank can you see that every amount do appear that appear twice in my journal amassed e oj this is the hundred thousand this is between these two thousand six hundred eg scored of the six thousand one hundred and these are the king yes my three thousand five hundred which is actually yeah thisis 3,500 again nine forty nine forty 109 109 so for every given the ISA credit and therefore because all these amounts do appear in Bank my bank column must be equal to all my other money columns added together good this is the CEO try this one thing that I wanted to mention that I didn't mention in the beginning I see sometimes that students like to put an odd in front of their mouth people please don't do that first of all we all know that these columns reaper represent grand insane and secretly and it takes a lot of time actually to write these words that are not necessary and it also makes it difficult to mark or to read so please don't put any author we know in accounting when you see an amount and or a number it does represent an amount okay I hope this helped you a bit and if there's any questions you can please get back to us so that we can try and assist you this then activity one and that you can now go and complete and on the coj you can complete your own coj and see if you can apply what we've discussed yeah you