Simple Bookkeeping

SIMPLE BOOKKEEPING   SAMPLE

Week beginning, Monday,  _____October 7, 2013______                         

INCOME
Monday    ___500_________                                                                     
Tuesday    ___460_________                                                                     
Wednesday __410_________                                                                          
Thursday  ___490________                                                                                                               
Friday ______480__________                                                                                                
Saturday  ___510__________                                                                                                    
Sunday   ____560__________              
TOTAL ___3,410___________    

EXPENSES in $USD
____5_________  gas for generator                                           
____6_________   candles  
_____7________   batteries       
_____580______   re-stock inventory
____32________   new light
_____13_______   paper and pens
_____?________   other
______?_______   other
___640________   TOTAL     

Break down of Income & Expenses:  Total income of 3,410 – expenses of 640 = 2770 Gross Profit x 20% to Dr. Epps (20%=554, 80%=2216).  The 80% that “stays local” breaks down as shown below:  
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 often Unexpected expenses—save money, be ready for them!

You will need a bank account and it must allow for international transfers so you can transfer Dr. Epps’ 20% each week.  Get receipts for EVERY expense.  You will be sending me a copy of everything  and the only expenses allowed are the ones for which you provide 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 % (per cents), that is good enough.  There are some questions for you to answer about how you will do bookkeeping.