If you are still confused about how to make simple bookkeeping for the company, we will explain the stages in more detail so you can understand better. You can follow the following early steps to make simple bookkeeping of the company. Furthermore, you may also hire xero bookkeeping services if you want to hire professionals to help you record your financial data xero bookkeeping services.
1. Create an Expenditure Notebook
When starting a business, make a separate book specifically for recording expenses. All expenses or expenditures in business starting from the purchase of raw materials, operations to the salaries of employees must be continuously recorded clearly. By recording all business expenses, you will find out how much business capital you have spent. After knowing how much capital you have spent you will find it easier to set targets and plan when the business capital must return.
2. Create an Entry Notebook
After having the cash book, the next expenditure that needs to be prepared is also the book of income cash. You will use this cash book to record all transactions related to the company’s income. For example, the number of product sales that are successfully obtained per day or the accounts payable. The recording of this entry transaction must also be carried out continuously every day to make it easier for you to make the company’s monthly bookkeeping. By having orderly cash and income book recorded every day you will find out how much profit is earned in one day.
3. Create the Main Cash Book
In bookkeeping the company’s finances make the main cash book is one of the most important things. This main cash book will later be used to combine transactions between cash receipt books and expenditure cash books. By combining transactions from the two cash books you will know in detail and clearly how much the company profits and losses.
You can also determine how much the company budget is for money in and out. The cash flow estimation is also very important for planning and corporate strategy if there are unexpected costs in the future.