reciepts and bookkeeping???

Discussion in 'Business Operations' started by keepoffthegrass, Apr 6, 2007.

  1. keepoffthegrass

    keepoffthegrass LawnSite Member
    from Ontario
    Posts: 212

    Hi, im 18 and just registered my business in ontario and i have been studying up how to do everything right.

    My aunt is going to be doing my bookkeeping and she just told me to keep my expense reciepts and revenue organized by the month sep. Do I include my material reciepts for say mulch and stuff in with expenses? or seperate? how does that work?

    Thanks for the help guys, good luck to everyone this year.
     
  2. 1MajorTom

    1MajorTom Senior Moderator
    Posts: 6,074

    since you are just starting out, i don't think you will have a ton of receipts.
    buy yourself one of those soft plastic type accordian files, and break everything down into categories.
    such as: gasoline receipts - separate the ones for the vehicle, and the ones for the equipment
    postage reciepts, keep all office supplies receipts together such as paper, pens, envelopes, printer ink, etc
    keep all your mulch, topsoil, grass seed receipts together
    all receipts for equipment maintenance like, oil, filters, belts, etc, keep all that together, you get the idea.
    every receipt you get, you keep, and file it under the right category. that's how i do it, i like all the stuff categorized. then at the end of the month, put all receipts in a brown manilla envelope and label it "april receipts", then start all over for may, and so on and so on.
     
  3. keepoffthegrass

    keepoffthegrass LawnSite Member
    from Ontario
    Posts: 212

    Thanks, I'm going to go get something like that soon. So those type of reciepts are just expense reciepts obviously.
     
  4. RedMax Man

    RedMax Man LawnSite Platinum Member
    Posts: 4,053

    I do the same thing with the file box orginizing.
    I also scan all my receipts into the computer and catigorize them.
    Reciepts that are for business expences i log all the info. products and prices into an Excel spreed sheet so i can keep track of when things were purchased, cost, and how much is being spent each month on overhead expences.
    When i get check payments from customers i also scan a copy of them into the computer so i have a record them.
     
  5. TSG

    TSG LawnSite Senior Member
    Posts: 444

    Get a buisness credit card,,,or one you use just for buisness
    If all else fails you have the statements as records and
    everything should be deductible
     
  6. ECS

    ECS LawnSite Bronze Member
    Posts: 1,733

    Everything I do is in Excel. I keep a monthly time sheet which has everything I do for each and every day of the month, including where I stopped, what I purchased and how much it was. I also keep all my expenses broken down by the day of the month by category for my accountant. All my receipts get put into an envelope in the same order as they are on my time sheet and my expense report. I have one envelope for each month which makes it very easy and organized being that everything is in chronological order, matches my expense report and my time sheet. Very easy to find any item for any day of the year if I need to.
     

Share This Page