The Zero Sum Sales Receipt  Taking Minimum Time for Maximum Results
Today’s Agenda <ul><li>Why </li></ul><ul><ul><li>Easily see errors every day. </li></ul></ul><ul><ul><li>Comparisons of Sa...
Biography <ul><li>Partner Behind the Scenes Financial Services </li></ul><ul><li>Advanced Certified QB ProAdvisor  </li></...
Who is a Good Fit? <ul><li>Any Business that want to capture the Daily Sales Activity.  </li></ul><ul><li>Some of my clien...
Who is a  NOT  a Good Fit? <ul><li>Any Business that tracks Sales by Individual Customer.  </li></ul><ul><li>Some of my cl...
What exactly is a ZSR? <ul><li>The “INS” </li></ul><ul><ul><li>Sales of your Items </li></ul></ul><ul><ul><li>Sales Tax Co...
Let’s Look at a few Examples <ul><li>The Vin Yard </li></ul><ul><li>The Local 295 </li></ul><ul><li>Safe Haven Veterinary ...
To begin… <ul><li>Determine what you sell each day. </li></ul><ul><ul><li>Create an Item for each.  </li></ul></ul><ul><ul...
Item List
The Process <ul><li>Take your daily print out from your POS system.  </li></ul><ul><li>Create your Zero Sum Sales Receipt ...
The Vin Yard <ul><li>The POS Print Out. </li></ul><ul><ul><li>Daily Sales </li></ul></ul><ul><ul><li>Money Received </li><...
Let’s See it in Action
The Bank
Key Points <ul><li>To CREATE your ZSR </li></ul><ul><ul><li>Determine Your Item List </li></ul></ul><ul><ul><li>Track how ...
Sales Tax <ul><li>Sales Tax is NOT tracked using QuickBooks Sales Tax Feature. You can turn in OFF in your Preferences.  <...
Questions
Thank you! [email_address] 386-852-5755 Cell Phone
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The Zero Sum Sales Receipt

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The Zero Sum Sales Receipt

  1. 1. The Zero Sum Sales Receipt Taking Minimum Time for Maximum Results
  2. 2. Today’s Agenda <ul><li>Why </li></ul><ul><ul><li>Easily see errors every day. </li></ul></ul><ul><ul><li>Comparisons of Sales Items </li></ul></ul><ul><ul><li>Makes reconciling your Bank Account painless </li></ul></ul><ul><li>How </li></ul><ul><ul><li>To Create a ZSR and Memorize it. </li></ul></ul><ul><ul><li>Input the everyday information </li></ul></ul><ul><ul><li>Sales Tax </li></ul></ul><ul><ul><li>Show me the Money!  </li></ul></ul><ul><li>Questions </li></ul><ul><li>Who </li></ul><ul><ul><li>Is Debbie? </li></ul></ul><ul><ul><li>Is a Good Fit for the Zero Sum Sales Receipt (And who isn’t!) </li></ul></ul><ul><li>What </li></ul><ul><ul><li>What is it?? </li></ul></ul><ul><ul><li>What’s on it? </li></ul></ul><ul><ul><li>What happens Behind the Scenes? </li></ul></ul><ul><li>Where </li></ul><ul><ul><li>Does the Information go in your QB File? </li></ul></ul><ul><ul><li>Is the information found? </li></ul></ul>
  3. 3. Biography <ul><li>Partner Behind the Scenes Financial Services </li></ul><ul><li>Advanced Certified QB ProAdvisor </li></ul><ul><li>QB Certified Since 2005 </li></ul><ul><li>QB Enterprise Certified </li></ul><ul><li>Masters Degree in Computer Info Systems </li></ul><ul><li>And for fun, plays the violin! </li></ul>Debbie Kilsheimer
  4. 4. Who is a Good Fit? <ul><li>Any Business that want to capture the Daily Sales Activity. </li></ul><ul><li>Some of my clients using this technique: </li></ul><ul><ul><li>Specialty Wine and Cheese Shop </li></ul></ul><ul><ul><li>Union </li></ul></ul><ul><ul><li>Veterinary Hospital </li></ul></ul><ul><ul><li>Hair Salon </li></ul></ul><ul><ul><li>Restaurants </li></ul></ul><ul><ul><li>Decorative Concrete Supply Company </li></ul></ul>
  5. 5. Who is a NOT a Good Fit? <ul><li>Any Business that tracks Sales by Individual Customer. </li></ul><ul><li>Some of my clients that do NOT use this technique: </li></ul><ul><ul><li>My own Accounting Firm </li></ul></ul><ul><ul><li>Piano Retailer </li></ul></ul><ul><ul><li>Car Dealership </li></ul></ul><ul><ul><li>Architect </li></ul></ul><ul><ul><li>Construction </li></ul></ul><ul><ul><li>Homeowner’s Association </li></ul></ul><ul><ul><li>Non-Profit Agency </li></ul></ul>
  6. 6. What exactly is a ZSR? <ul><li>The “INS” </li></ul><ul><ul><li>Sales of your Items </li></ul></ul><ul><ul><li>Sales Tax Collected </li></ul></ul><ul><ul><li>Payments on Accounts </li></ul></ul><ul><ul><li>Gift Certificates Sold </li></ul></ul><ul><li>The “OUTS” </li></ul><ul><ul><li>Cash/Checks </li></ul></ul><ul><ul><li>MasterCard/VISA/Debits </li></ul></ul><ul><ul><li>Discover </li></ul></ul><ul><ul><li>AMEX </li></ul></ul><ul><ul><li>Gift Certificates Redeemed </li></ul></ul><ul><ul><li>Cash Over/Short </li></ul></ul><ul><ul><li>Register “Payouts” </li></ul></ul>The TOTAL of your “INS” less your “OUTS” will ALWAYS be ZERO!
  7. 7. Let’s Look at a few Examples <ul><li>The Vin Yard </li></ul><ul><li>The Local 295 </li></ul><ul><li>Safe Haven Veterinary Hospital </li></ul><ul><li>DJ’s Deck </li></ul>
  8. 8. To begin… <ul><li>Determine what you sell each day. </li></ul><ul><ul><li>Create an Item for each. </li></ul></ul><ul><ul><li>Create and Item for Sales Tax </li></ul></ul><ul><li>Figure out how the money gets to you bank. </li></ul><ul><ul><li>Create a Payment for each payment type </li></ul></ul>
  9. 9. Item List
  10. 10. The Process <ul><li>Take your daily print out from your POS system. </li></ul><ul><li>Create your Zero Sum Sales Receipt duplicating the items as they appear on the POS report. </li></ul><ul><li>Memorize it. </li></ul><ul><li>Every day, just pull up the Memorized Sales Receipt and type in the figures. </li></ul><ul><li>Make your Deposits. </li></ul><ul><li>Reconcile your Bank every day, every week or every month! </li></ul>
  11. 11. The Vin Yard <ul><li>The POS Print Out. </li></ul><ul><ul><li>Daily Sales </li></ul></ul><ul><ul><li>Money Received </li></ul></ul>
  12. 12. Let’s See it in Action
  13. 13. The Bank
  14. 14. Key Points <ul><li>To CREATE your ZSR </li></ul><ul><ul><li>Determine Your Item List </li></ul></ul><ul><ul><li>Track how you get paid </li></ul></ul><ul><ul><li>Duplicate your POS Daily Summary </li></ul></ul><ul><ul><li>Memorize it. </li></ul></ul><ul><li>To USE it every day. </li></ul><ul><ul><li>Open you Memorized Transaction List </li></ul></ul><ul><ul><li>Type your figures from your POS Report </li></ul></ul><ul><ul><li>Make your Deposits </li></ul></ul><ul><ul><li>Reconcile your Bank. </li></ul></ul>I can do this!!
  15. 15. Sales Tax <ul><li>Sales Tax is NOT tracked using QuickBooks Sales Tax Feature. You can turn in OFF in your Preferences. </li></ul><ul><li>Sales Tax is an Item in the Sales Receipt pointing to a Current Liability type on your Chart of Accounts. </li></ul><ul><li>Run a Sales by Item Report every month and “Do the Math” to fill out your Sales Tax Return every month </li></ul><ul><li>Create and Pay a Bill for your Sales Tax monthly. </li></ul>Actual Return
  16. 16. Questions
  17. 17. Thank you! [email_address] 386-852-5755 Cell Phone

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