The document discusses the Zero Sum Sales Receipt technique for easily tracking daily sales and reconciling bank accounts. It recommends creating a sales receipt template with items for each product sold, payment types received, and sales tax collected. Business owners use this template to quickly enter daily sales figures from their point-of-sale system. This allows them to easily make deposits and reconcile accounts by ensuring the total sales and payments always balance out to zero. The document provides examples and advises determining item lists, duplicating point-of-sale summaries, and using the template daily to streamline bookkeeping.

1. The Zero Sum Sales Receipt Taking Minimum Time for Maximum Results

2. 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?

3. 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

4. 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

5. 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

6. 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!

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

8. 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

9. Item List

10. 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!

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

12. Let’s See it in Action

13. The Bank

14. 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!!

15. 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

16. Questions

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