Week beginning, Day , Month , Year
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
EXAMPLE: Make a note of each expense when it happens. At end of day, write down your expenses for the entire day. This business task will become more important to you than you might think. Detail the expenses, and record the income you receive each week, and date it. Keep the weekly sheets together in an organized manner.
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.
