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Receipt format sample for small businesses

hey guys so welcome to this video this is one that i'm really excited to do um because i'm going to do a real-time walk-through of what it looks to do just a very basic bookkeeping system with pen and paper um and this is a system that as simple as it looks it took me a while to um like finesse this for my husband's landscaping business so i worked for years and years working through the way that he tracked things and i recognized that it was more difficult for me to work around his system than for me to create a simple system for him to use and for me to access all of his information in a very clear way so that every month i just do a little bit of work and then at the end of the year for um tax prep things are like that um so i am going to show you some of the things that i use and then i'll do a really quick run through of how i do things with his business of uh and what i'm using to do that and then you should be able to set that system up for yourself there are a lot of things on bookkeeping that i feel like go beyond this but for a super simple with like a small number of transactions every month this should work for almost any business so i'm going to show you really quickly the basically the two things that i need and those the first one and i'm going to try to hide the important stuff is a bank statement so what i do every month for charlie's business is i print out the bank statement and this is two pages of transaction and then any checks that he's written or deposits he made um the bank actually makes a little um view of those and puts them there for me so that's nice the one thing that i will say about this though is that those deposit transactions that he makes at the bank i can see the total and i can see the day but i can't see a breakup of what that was made up of so maybe it was 50 cash and two checks from different customers and it's not going to break that down for me so one thing that i'll say about this bookkeeping system that may not meet your needs as well is i don't have this broken down by customer because i don't need to do that for year-end tax prep so my husband likes to keep track of who has paid him and how much and i let him take care of that because that's what he and he enjoys that part of it or is better at that part of it for himself and so that's not part of the bookkeeping that i do for him but um i need the bank statement that's the first thing that i need is the bank statement yep and the second thing that i need is my blank copy of where all this goes so this is not exactly a profit and loss statement as much as it is just in expenses and an income statement and this really helps me dive in to all of the expenses i can write little notes here if i need to about what to ask him about and i can tally up amounts so i have the expenses here and the income here and then i can quickly calculate the profit and that's really important so if you were doing a profit and loss statement a profit or loss statement then that number here would basically tell you that um now the third thing that i didn't really mention i will not go in depth on this is on the back of this piece of paper i have already printed out the tax categories that we use for his business and these are things that are very specific to his landscaping business if you had a photography business it might be different there might be utilities or rent if you have a storefront things like that and that's really what you would want a bookkeeper for you want to make sure that this is really um specific to your business so that all the expenses that you track here can then be tallied up and put onto the back or on a separate piece of paper for your tax categories so you have all your write-off numbers ready to go so i'll show you just a little bit about that um but that's something that's like i said it's really specific and that would be what a bookkeeper would be really good at for you okay so i'm just going to turn the camera around show you what i do i'm just going to write things down and then at the end i'll kind of show you what that process looks like once it's done okay so before i go much farther all i'm gonna say is that the first thing that i did is i ran through this statement um from the bank and i just wrote down all the numbers that were income or deposits into his account and so all i've done is put that into income box of this profit and loss statement i've tallied it up and i've got my income at the top and now i'm going to go through the expenses six okay so all i've done so far is income is totaled up expenses are totaled up and i've made some notes of some things and expenses that either have to ask them a question about or may not apply directly to the business and this is something that i'll just add a little blurb about it's so good to have this bank statement completely be business and separate from your personal account if you were having to go through your personal bank statement and mark through all the ones that were not business transactions or the ones that were let's say you went to walmart for two different things this month one for one um a couple of things that you wanted to get for your kids halloween costume and then another that was a business transaction you might have forgotten which one was which and although it might be just pennies of difference having these things really clear in a separate bank statement is really really really helpful it also makes sure that you're only using your bank your business banking account for business transactions and you don't dip into there for personal funds and that way you're not going over or having a overdraft fees or anything like that that could set you back at a profit standpoint so all i'm going to do now is i'm going to take the income which i've already marked and tallied up and i'm going to subtract the expenses and i am going to take that total and write it all the way up at the very top of the piece of paper where it says profit so i'm going to note that here and then really that's it so all i've done expenses tallied up income tallied up and then subtracted those and put it over here where it says profit sorry i had to scratch out a month there that i used the wrong thing for um there are also other things that i've listed here like um we take out money for tithe so i put that down i'm going to tell you the tax savings that he should um have and transfer into his tax savings account which is in the same account that we use for his checking and really that's the wrap-up of the month um and so the last thing that i'm gonna do and this is really where a bookkeeper can become really helpful for you um especially if you've already done this part is these tax categories on the back i'm going to go through the transactions for this month which aren't that aren't a lot because grass is slowing down and i'm going to go through and say were any of these specific to a vehicle were any of these specific to communications so for instance generally at the end of the year i look at communications and say our personal cell phone bill he uses that throughout the month for his business communication so i'm going to go through and mark that but there might not be any transactions for that for this month if there's not a transaction for it all i do is draw a line through and that way i know that i've looked through and seen if there's an expense for that um and anything else that's on here i'm gonna go back and look at the expenses on the front and just make a note of what those tallies are and then i'll show you how all of this comes together for the end of the year is i take an annual profit and loss statement um and what i do let's see if i can just show you the top kind of here um is i'm going to go through every single month and write down all the totals that i have from my monthly sheet so monthly sheet is where i do all my work and then i put those totals here so that at the very end of the year all it takes is adding those numbers up and i've got all my tax prep ready to go and enter into the computer and this is a system that i think works really well if you're still small and you're still building up your practice or your business and you can kind of manage this if you take one day a month and this video is rounding out at about 15 minutes so um if you take that amount of time then you can really make things easy on yourself um before before you might need any help from a bookkeeper or an accountant or anything like that so i hope that you have found this video um like helpful and it helps you be successful in in your business um if so then give me a like or share and uh and i'll see you guys next time