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The Two Monthly Bookkeeping Summaries

Once you have your daily cash receipts tracked, the next step is to compile these numbers into monthly summaries. The either/or dilemma is often between compiling numbers manually (tedious) and using a simple, clear template (efficient and compliant).

You will need one summary for receipts and another for expenses. The Monthly Summary of Cash Receipts tracks your daily income, separates out any sales tax you collected, and matches the totals to your bank deposits. The Check Disbursements Journal records all the money you spend, broken down by category. These two documents give you a clear, Sound picture of your income activity for the entire month.

Ready to master single-entry bookkeeping? Read more on this topic by visiting https://www.safesimplesound.com/master-single-entry-bookkeeping-for-solo-entrepreneurs/.

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DISCLAIMER: This content is for educational purposes only and should not be considered personalized financial advice. Always consult with a qualified financial professional before making financial decisions.

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