The Zero Sum Sales Receipt Taking Minimum Time for Maximum Results

Today’s Agenda Why Easily see errors every day. Comparisons of Sales Items Makes reconciling your Bank Account painless How To Create a ZSR and Memorize it. Input the everyday information Sales Tax Show me the Money!  Questions Who Is Debbie? Is a Good Fit for the Zero Sum Sales Receipt (And who isn’t!) What What is it?? What’s on it? What happens Behind the Scenes? Where Does the Information go in your QB File? Is the information found?

Why

Easily see errors every day.

Comparisons of Sales Items

Makes reconciling your Bank Account painless

How

To Create a ZSR and Memorize it.

Input the everyday information

Sales Tax

Show me the Money! 

Questions

Who

Is Debbie?

Is a Good Fit for the Zero Sum Sales Receipt (And who isn’t!)

What

What is it??

What’s on it?

What happens Behind the Scenes?

Where

Does the Information go in your QB File?

Is the information found?

Biography Partner Behind the Scenes Financial Services Advanced Certified QB ProAdvisor QB Certified Since 2005 QB Enterprise Certified Masters Degree in Computer Info Systems And for fun, plays the violin! Debbie Kilsheimer

Partner Behind the Scenes Financial Services

Advanced Certified QB ProAdvisor

QB Certified Since 2005

QB Enterprise Certified

Masters Degree in Computer Info Systems

And for fun, plays the violin!

Who is a Good Fit? Any Business that want to capture the Daily Sales Activity. Some of my clients using this technique: Specialty Wine and Cheese Shop Union Veterinary Hospital Hair Salon Restaurants Decorative Concrete Supply Company

Any Business that want to capture the Daily Sales Activity.

Some of my clients using this technique:

Specialty Wine and Cheese Shop

Union

Veterinary Hospital

Hair Salon

Restaurants

Decorative Concrete Supply Company

Who is a NOT a Good Fit? Any Business that tracks Sales by Individual Customer. Some of my clients that do NOT use this technique: My own Accounting Firm Piano Retailer Car Dealership Architect Construction Homeowner’s Association Non-Profit Agency

Any Business that tracks Sales by Individual Customer.

Some of my clients that do NOT use this technique:

My own Accounting Firm

Piano Retailer

Car Dealership

Architect

Construction

Homeowner’s Association

Non-Profit Agency

What exactly is a ZSR? The “INS” Sales of your Items Sales Tax Collected Payments on Accounts Gift Certificates Sold The “OUTS” Cash/Checks MasterCard/VISA/Debits Discover AMEX Gift Certificates Redeemed Cash Over/Short Register “Payouts” The TOTAL of your “INS” less your “OUTS” will ALWAYS be ZERO!

The “INS”

Sales of your Items

Sales Tax Collected

Payments on Accounts

Gift Certificates Sold

The “OUTS”

Cash/Checks

MasterCard/VISA/Debits

Discover

AMEX

Gift Certificates Redeemed

Cash Over/Short

Register “Payouts”

Let’s Look at a few Examples The Vin Yard The Local 295 Safe Haven Veterinary Hospital DJ’s Deck

The Vin Yard

The Local 295

Safe Haven Veterinary Hospital

DJ’s Deck

To begin… Determine what you sell each day. Create an Item for each. Create and Item for Sales Tax Figure out how the money gets to you bank. Create a Payment for each payment type

Determine what you sell each day.

Create an Item for each.

Create and Item for Sales Tax

Figure out how the money gets to you bank.

Create a Payment for each payment type

Item List

The Process Take your daily print out from your POS system. Create your Zero Sum Sales Receipt duplicating the items as they appear on the POS report. Memorize it. Every day, just pull up the Memorized Sales Receipt and type in the figures. Make your Deposits. Reconcile your Bank every day, every week or every month!

Take your daily print out from your POS system.

Create your Zero Sum Sales Receipt duplicating the items as they appear on the POS report.

Memorize it.

Every day, just pull up the Memorized Sales Receipt and type in the figures.

Make your Deposits.

Reconcile your Bank every day, every week or every month!

The Vin Yard The POS Print Out. Daily Sales Money Received

The POS Print Out.

Daily Sales

Money Received

Let’s See it in Action

The Bank

Key Points To CREATE your ZSR Determine Your Item List Track how you get paid Duplicate your POS Daily Summary Memorize it. To USE it every day. Open you Memorized Transaction List Type your figures from your POS Report Make your Deposits Reconcile your Bank. I can do this!!

To CREATE your ZSR

Determine Your Item List

Track how you get paid

Duplicate your POS Daily Summary

Memorize it.

To USE it every day.

Open you Memorized Transaction List

Type your figures from your POS Report

Make your Deposits

Reconcile your Bank.

Sales Tax Sales Tax is NOT tracked using QuickBooks Sales Tax Feature. You can turn in OFF in your Preferences. Sales Tax is an Item in the Sales Receipt pointing to a Current Liability type on your Chart of Accounts. Run a Sales by Item Report every month and “Do the Math” to fill out your Sales Tax Return every month Create and Pay a Bill for your Sales Tax monthly. Actual Return

Sales Tax is NOT tracked using QuickBooks Sales Tax Feature. You can turn in OFF in your Preferences.

Sales Tax is an Item in the Sales Receipt pointing to a Current Liability type on your Chart of Accounts.

Run a Sales by Item Report every month and “Do the Math” to fill out your Sales Tax Return every month

Create and Pay a Bill for your Sales Tax monthly.

Questions

Thank you! [email_address] 386-852-5755 Cell Phone