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Simple Bookkeeping SAMPLE

Week beginning,           Monday          ,         October 7, 2013          


Monday                     500 
Tuesday                     460 
Wednesday               410 
Thursday                    490 
Friday                         480 
Saturday                     510 
Sunday                       560 
TOTAL                    3,410 



               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.  

From the video course: “How To Start A Micro Business” by Dr. Jerry Dean Epps, Ph. D.

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