|
Product
Development
I
Marketing
Staff and Stock
I
Maintenance
I Finance
I Summary
Improve
your Accounting System [top]
As
a businessperson you should be able to check if your
accounting system is good enough to record your daily
transactions. If you do not know how to make such records
in a simple and easy manner it will be very difficult
for you to identify your income and expenses and eventually
you will not know whether you have made a profit or
a loss with your business activities.
The
absence of recording will also cause some problems in
handling customer needs, particularly in providing sales
on credit. The lack of recording also makes it very
difficult for the tax offices to levy reasonable taxes
that are commensurate with the business activities.
As a result, you may feel that taxes that are being
levied on the basis of estimation are too heavy to bear.
Therefore, to improve the accounting and statistics
of your business check the following:
Do
you have proper cashbook? Example:
|
Cashbook |
|
No. |
Date |
Description |
Cash
in |
Cash
out |
Balance |
|
Birr |
Ct |
Birr |
Ct |
Birr |
Ct |
|
1 |
2.2.04 |
Initial
cash in |
2
345 |
00 |
|
|
2
345 |
00 |
|
2 |
3.2. |
Electricity |
|
|
126 |
50 |
2
218 |
50 |
|
3 |
3.2. |
Shop
rent |
|
|
930 |
40 |
1
288 |
10 |
|
4 |
4.2. |
Sales
of products |
455 |
70 |
|
|
1
743 |
80 |
|
5 |
5.2. |
Taxes |
|
|
780 |
90 |
962 |
90 |
|
6 |
5.2. |
Sales
of products |
1
675 |
80 |
|
|
2
638 |
70 |
|
7 |
5.2. |
Raw
materials |
|
|
1
675 |
80 |
962 |
90 |
|
8 |
7.2. |
Sales
of products |
780 |
45 |
|
|
1
743 |
35 |
|
... |
... |
... |
|
|
|
|
|
|
Do
you have proper records of maintenance services? Example:
|
Records on maintenance services |
|
No. |
Date
item received |
Name
of client |
Type
of item received |
Estimated fee to be paid |
Date
of submission |
Signature |
|
1. |
17.3.04 |
Almaz
Bekele |
Television |
Birr
100 |
22.3.04 |
|
|
2. |
18.3.04 |
Hailu
Belayt |
Video
deck |
Birr
200 |
24.3.04 |
|
|
3. |
24.3.04 |
Martha
Sisay |
Tape
recorder |
Birr
20 |
26.3.04 |
|
|
... |
... |
... |
... |
... |
... |
|
Do
you use proper records of sales on credit? Example:
|
Sales on credit |
|
No. |
Date |
Name
of client |
Product
Service |
Unit
value |
Advance
paid |
Remained
to be paid |
Date
of final payment |
Signature |
|
1. |
17.3.04 |
Henok
Tesfaye |
Table |
Birr
120 |
Birr
60 |
Birr
60 |
17.4.04 |
|
|
2. |
18.3.04 |
Helen
Binyam |
Dining
table |
Birr
700 |
Birr
350 |
Birr
350 |
17.5.04 |
|
|
3. |
22.3.04 |
Beyene
Ayele |
Cup
board |
Birr
350 |
0 |
Birr
350 |
25.5.04 |
|
|
|
|
|
|
|
|
|
|
|
|
... |
... |
... |
... |
... |
... |
|
|
|
Do
you use proper records of raw material inventory? Example:
|
Raw material inventory |
|
No. |
Date |
Raw
material purchased |
Raw
material used |
Inventory |
|
Type |
Qty |
Total
value |
Type |
Qty |
Total
value |
Qty |
Total
value |
|
1. |
24.3.04 |
Timber |
200
Pcs. |
Birr
2000 |
Timber |
170
Pcs. |
Birr
1700 |
30
Pcs |
Birr
300 |
|
2. |
25.3.04 |
Glue |
5
litters |
Birr
125 |
Glue |
2
litters |
Birr
50 |
3
litters |
Birr
75 |
|
3. |
| | 
