Download - Financial Reports
![Page 1: Financial Reports](https://reader036.vdocuments.site/reader036/viewer/2022062514/557d323dd8b42a90748b517e/html5/thumbnails/1.jpg)
1
A. Record a SalePractice Session – Money In
Money In: Record a Sale
Customer buys business cards.
Pays on spot with cash.
You issue sales receipt.
1
![Page 2: Financial Reports](https://reader036.vdocuments.site/reader036/viewer/2022062514/557d323dd8b42a90748b517e/html5/thumbnails/2.jpg)
2
A. Record a SalePractice Session – Money In
Issue sales receipt
Record:
1. Customer
2. Item
3. Quantity
4. Payment type
5. Date
1
2 3
4
Track Your Business
5
![Page 3: Financial Reports](https://reader036.vdocuments.site/reader036/viewer/2022062514/557d323dd8b42a90748b517e/html5/thumbnails/3.jpg)
3
A. Record a SalePractice Session – Money In
See Where Your Business Stands Profit & Loss
6. Sales increase by $200.00
Balance Sheet
7. Assets increase by $215.50
8. Liabilities (sales tax payable) increase by $15.50
9. Equity increases by $200.00
6
7
8
9
![Page 4: Financial Reports](https://reader036.vdocuments.site/reader036/viewer/2022062514/557d323dd8b42a90748b517e/html5/thumbnails/4.jpg)
4
C. Receive a PaymentPractice Session – Money In
Money In: Receive Payment
Customer pays by check for business card design services invoice.
Record receipt of payment.
1
![Page 5: Financial Reports](https://reader036.vdocuments.site/reader036/viewer/2022062514/557d323dd8b42a90748b517e/html5/thumbnails/5.jpg)
5
C. Receive a PaymentPractice Session – Money In
Track Your Business
Receive payment
Record:
1. Customer
2. Payment type
3. Enter amount
1
2
3
![Page 6: Financial Reports](https://reader036.vdocuments.site/reader036/viewer/2022062514/557d323dd8b42a90748b517e/html5/thumbnails/6.jpg)
6
C. Receive a PaymentPractice Session – Money In
See Where Your Business StandsProfit & Loss
4. Unchanged.
Balance Sheet
5. Accounts receivable decrease by $90.
6. Undeposited funds increase by $90.
7. Equity unchanged.
4
5
6
Undeposited funds appear in “Other Current Assets”
7