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CORE 3:
BASIC BOOKKEEPING, SIMPLE RECORD KEEPING, HANDLING MONEY
Lesson Plan
- Worksheet: “Simple Bookkeeping”. Discuss and practice with teacher. Lead discussion on use of
- Worksheet: “Quick Analysis”. Review use of this worksheet
- Teacher to Introduce and Demonstrate the following:
- Maintaining check book register
- Deposit money
- Write at least two check
- Show the running balance of each check written
- Cell phone banking
- Introduce: spreadsheet on device
Simple Bookkeeping
SAMPLE
Week beginning Monday , October 7 , 2021
INCOME in $USD
Monday 500
Tuesday 460
Wednesday 410
Thursday 490
Friday 480
Saturday 510
Sunday 560
TOTAL 3,410
EXPENSES in $USD
Gas for generator 5
Candles 6
Batteries 7
Re-stock inventory 580
New light 32
Paper and pens 13
Other ?
TOTAL 640
Break down of Income & Expenses:
Total income of 3,410 – expenses of 640 = 2770 Gross Profit.
Here is the Gross Profit break down:
40% = 886 for next re-stock
20% = 443 to save
40% = 886 to take home pay for local partner(s) if that much is needed
It is better to save a larger amount if possible! In life, there are almost always unexpected expenses—save money, be ready for them!
You will need a bank account. The only expenses allowed are the ones for which you get a receipt. No exceptions. Get receipts. It is just good business practice. As you expand in a few years, you will be glad you learned to get a receipt for everything.
A calculator helps, but is not required. They are very cheap. If it will add, subtract, multiply, divide and do % (percentages), that is good enough.
Resources
Homework*
- Submit photo of yourself filling out an Excel spreadsheet with 8 to 12 entries (maybe a friend takes the photo for you).
- Include copy of the spreadsheet.
*assigned at the end of the weekend.