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Finance and account keeping


Why is it necessary to keep accounts?

How do you keep accounts?

Receivables

Expenditures

Date

Income

Amount

Date

Expenditure

Amount



1





2





3










4





5





6








Receivables

1. Date

Record the date the money was received

2. Income

Record all income received, where it was received from, what for.

3. Amount

Record the amount of money received, as recorded in column 2

Expenditures

4. Date

Record the date the money was paid

5. Expenditure

Record all expenditures made, who it was made too, what for.

6. Amount

Record all amounts of money paid, as recorded in column 5.

What forms and account books are needed for accounting?

Who will do the accounting?


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