Record Keeping and Financial Tables
Record Keeping Tables
CASH PAYMENTS BOOK
CASH RECEIPTS BOOK
CASH FLOW FORECAST
Other Income All ‘Cash Outflow’ items
PROFIT AND LOSS STATEMENT
FINANCIAL TABLE NOTES
Please take note the following important points before you begin to complete your financial tables: • The assumptions made in preparing these tables are that ABN and GST have been registered and that GST and Business Tax will be paid to the ATO quarterly. • It is important that you understand that in order to make your financial predictions valid, you only enter any money that you expect to pay or receive in the relevant month column. • If you resort to 'averaging' throughout the year, you will not be recognising payments and receipts that are due at a certain period of time and this could lead to a distorted picture of your financial position or at worst a negative cash flow. • Areas shaded in green are for your data entry. All other areas in the worksheet are protected. Shading can be removed by selecting the cells and using no fill colour. • If for some reason you wish to customise the worksheets, then you will need to unprotect the worksheet by selecting ‘Tools’ and then ‘Protection’ followed by ‘Unprotect Sheet’. Follow the same procedure if you wish to protect the worksheet again. You should complete all of the tables in the order presented.
The following steps describe how to record receipts for sales you have made. • Transfer the figure from ‘S’ on the Reconciliation of Daily Sales to the ‘Total sales’ column in your Cash Receipts Book. Include the amounts from your receipts, invoices (other than credit sale invoices) and bank deposit book. If you are using a cash register and completing a Reconciliation of Daily Sales, you only need to make one entry for each day. • Businesses that have fewer...