PAYMENTS RECORD

Week WORKED EXAMPLE

22nd February 201with more Guide Notes
commencing .......................................................... Ref
BY CASH
BY CHEQUE, CARD
OR DIRECT BANKING
£ p £ p
opposite
A. Jones 133 22 20
MONEY RECORD BANK RECORD
A. Supply Co. 074 87 23
Money in hand £ p Balance in Bank £ p
I.M. Quick 134 12 32
at start of Week 106 39 at start of Week 1,292 59 Brown & Son 107 24
D/B

Stock or Raw Materials

General Note
All the data in this Worked Example J. Smith & Co. D/B 156 90
is fictitious. ABCD Group 138 30 00
DAILY TAKINGS DAILY BANKINGS
Ref = Reference
Monday 110 88 Monday 152 37 For a cash payment you could put the
payment date in the Ref column, or you could use
Tuesday 117 71 Tuesday 1,478 59 the unique sequential number you wrote on the invoice
or receipt. For a cheque payment, use the last 3 figures of
Wednesday 224 08 Wednesday the cheque number. For a business card write “Card”.
Thursday 173 18 Thursday For Direct Banking write “D/B”, “D/D” for a Direct
Debit, or “S/O” for a Standing Order.
Friday 215 47 Friday 612 73
Saturday 246 80 Saturday 139 50 Stock or Raw Materials Sub-Totals 64 52 351 37
Sunday Sunday Staff Wages B. Good (Pt-time) 075 105 00
Employee Costs

Total Takings 1,088 12 Total Bankings 2,383 19

OTHER MONEY COMING IN DIRECT CREDITS/DEBITS
Chq from private a/c 1,250 00 J. Smith
Direct Credits
Allowable Expenses
Staff PAYE/NIC Generally, costs you pay with
the sole purpose of earning business
Business Rent
75 00 profits are allowable expenses. Hence

Premises Costs

Business Rates non-business or personal costs are

A.Brown 95 00 not usually tax deductible.
Cleaning
Electric/Gas/Heat /Water D/D 33 79
Property Insurance
Any interest your bank Total Credits 170 00
pays you on your business account Repairs
enter as a “Direct Credit”. Any interest Bank Charges 34 75
the bank charges you (eg on an over- Business Insurances
draft) enter as a “Direct Debit” Bank Interest
General Admin. Expenses

under “Bank Interest”. Card Charges Postage/Couriers 137 8 48

Direct Debits

Other Charges
Stationery/Printing 136 13 50
Subscriptions
Sundries 135 & 139 7 88
Telephone/Fax/Mobile
Internet
Cash from Bank 100 00 Í Cash Withdrawn 100 00
Total 1,350 00 Total Debits 134 75 Fuel Card 29 00
Motor

Repairs/Service
No Business Account?
If you don’t have a business bank account, Other Costs (specify)
the figures below may not balance.
Travel &
WEEK’S MONEY BALANCE WEEK’S BANK BALANCE Good Practice
Subsistence When you complete a page, it’s
£ at start of week 106 39 £ at start of week 1,292 59 good practice to transfer the figures to
Advertising the “At Year End” Annual Summary pages
+ Daily Takings 1,088 12 + Daily Bankings 2,383 19 & Promotion located near the end of this book.
+ Other Money In 1,350 00 + Direct Credits 170 00 Tip: Use a pencil (lightly) to
Legal & begin with!
– Daily Bankings 2,383 19 – Direct Debits 134 75 Professional
– Cash Payments 94 38 – Chq. etc Payments 3,269 16
Other
Leaves: Balance 66 94 Leaves: Balance 441 87 Expenses
Carry these figures Self D/B 250 00
forward to next week. Drawings
& NIC
Money in hand at end of Week Monthly Bank Statement Check
Total as counted 66 89 Statement Balance 2,939 57 Van (Second-hand) 076 2,500 00
Add any bankings CAPITAL
These Balances should be
107 30 EXPENDITURE
the same, provided the business
Discrepancy +
_ 05p Less any payments
2,605 00 Bank Statement date corresponds
(Not yet on Statement)
to this week.
© P. Hingston Leaves: Balance 441 87 Total Cash & Cheque etc Payments 94 38 3,269 16

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