Record keeping 1

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RECORD KEEPING 101 FEB 2012 NADA ST. GERMAIN

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Record keeping 1

  1. 1. WHAT TO KEEP TRACK OF WHAT RECEIPTS TO KEEP HOW TO RECORD THEM
  2. 2.  Keep all of your receipts - don’t throw anything away. When you come home at the end of the day, empty your wallet. I use a basket (shoe box ) anything. Every couple of days go through your box and file receipts in categories.
  3. 3.  FILES TO PREPARE Products bought. Products sold. Products consumed. Products used for samples and demos. Sales tools used. Supplies for shake and shot parties, wellness meetings and grand openings.
  4. 4.  HOME EXPENSES Heating and hydro Fire wood Water Mortgage or rent Phone Computer line (internet) Gas or oil
  5. 5.  BUSINESS AND OFFICE EXPENSES Cell phone. Postage and shipping. Long distance plans for conference calls. Meeting expenses, (from your grocery list - milk, cream, fruit, nuts and snacks you serve, coffee and tea). Meeting expenses when doing one-on-ones at Tim Horton’s, Starbucks, (other locations).
  6. 6.  AUTO EXPENSES Keep all auto expenses. Car lease or loan. Gas Repairs Parking ETR if you use it. Car washes, including wash bay where you pay cash, no receipts but mark in your day timer.
  7. 7.  Find an accountant that understands “Direct Selling”. You can write off more than just a conventional business. Make sure you have everything in your day timer, all appointments, conference calls to show activity for your business.

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