Simple bookkeeping for your small business
You do not need to be an accountant to know whether your business makes money. A few simple habits are enough to see clearly and prepare your documents.
Separate business money from personal money
This is the most important rule. Set yourself a salary that you take on a fixed date, and do not dip into the till for personal spending: otherwise you will never know if the business is profitable.
Record sales and expenses every day
- Total sold, by payment method (cash, mobile money, card, credit).
- Purchases of goods.
- Costs: rent, electricity, transport, salaries, phone.
- Anything you take out for yourself.
Work out your profit
Profit = sales − cost of goods sold − costs. Do this calculation every month. Rising revenue does not mean rising profit: look at margin and expenses.
Keep your supporting documents
Keep purchase invoices, payment receipts and mobile money statements, filed by month. They serve your accountant, a loan application and any inspection.
Prepare your accountant’s work with Kaislo
Each month, export the Excel or PDF report: sales, items, expenses, credit owed and stock. Your accountant receives a clean workbook with real numbers, no retyping.
Sales, stock, customer credit and evening accounts in one place, on phone or computer. 30-day free trial.
Simple bookkeeping for your small business
What is the difference between revenue and profit?
Revenue is everything you sell; profit is what is left after removing the cost of goods and costs.
What should I give my accountant?
The monthly sales and expenses report, purchase invoices, mobile money statements and the list of customer credit.