![]() You need to add the totals on this P&L to the overall P&L of your business that is calculated from the transactions off your business bank account. This report will most likely show a loss because in most cases you will not have your income being paid into your Credit Card – your customers would usually pay into either your business bank account or your Paypal or Stripe account, or give you a check which you will deposit to your bank account. This report is basically made up of the totals of your Income, minus the totals of your expenses. profit and loss report on the expense form template All this means is that you have to wait a few weeks before seeing a finalized P&L figure for the previous month. Still use all the actual dates of your transactions and simply mark as reconciled all the transactions up to the 15th of the month. However, a lot of the time Credit Card Statements end with a closing balance on a 15th or something similar. The expense form template for each month runs from the 1st of the month to the 31st (or 30th) of the month. what to do if your credit card statement ends in the middle of the month (not on the last day) R stands for Reconciled, C stands for checked, X stands for checked and the dash can mean anything you want! Select any one that you fancy using. You can use the last column Headed R to mark each transaction as Reconciled as you check them off your Credit Card Statement. Your aim is to make sure that the expense form template balance matches the credit card account balance, so whether you access it through internet banking, or you wait for a paper statement to arrive, make sure the template matches it.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |