EnglandRecordKeeping.com

EnglandRecordKeeping.com

Extracting data so that you can make sound business decisions.

Date Num Name Source Name Memo Clr Amount

Cost of Goods Sold

08/03/2011 Johnson Minnesota Supply 8.22






08/06/2011 Johnson Elite Disposal 390.00




Total Cost of Goods Sold 2,161.78

VS.

VISIONTo re l ease bus iness owne rs f r om t he f ea r o f

f i nancesTo p roduce f i nanc ia l r epo r t s t ha t a l l ow

bus iness owne rs t o make sound managemen t dec i s i ons

O ur m i ss i on i s t o ge t t he numbers r i gh t so t ha t you can make money f o l l ow ing you r pass ion



Are you too busy to do proper accounting?


Are you too busy to do proper accounting?Are you afraid of what you might find, if you

did?



did?Are you making money, but you know you are

not tracking all of the expenses?




not tracking all of the expenses?Are you paying income tax on money that is

really not income?





really not income?Are you losing money but don’t know where?


Are you too busy to do proper accounting?Are you afraid of what you might find, if you did?Are you making money, but you know you are


really not income?You know you are losing money, but where?Do you have a hunch that one type of a job is far

more profitable than another, but have no hard evidence?


Are your receipts in many different places?


Are your receipts in many different places?• Does the box in the corner overflowing with

receipts bother you?


Are your receipts in many different places?Does the box in the corner overflowing with

receipts bother you?Do you need the data from all those pieces of

paper?


Are your receipts in many different places?Does the box in the corner overflowing with

receipts bother you?Do you need the data from all those pieces of

paper?Are you afraid of the answer you will get once

the data is organized?


ReducePaperClutter.com will help you organize the data so that you

can make sound management decisions.

Our Values

We strive for 100% accuracy 100% of the time.

If there is ever an exception, we will address the issue and fix it.

Our Values

We strive for 100% accuracy 100% of the time.If there is ever an exception, we will address the issue and fix it.

“People when you want them, technology

when you don’t” We are just a phone call away.All forms that need to be filled out have a phone number to contact a live person.All e-mails have a phone number with a live person to talk to.People who answer the phone are able to answer questions and fix problems.

Using Shoeboxed technology, we make a PDF of every receipt.

You mail the receipts to Shoeboxed using a postage paid envelope.

Original receipts are returned to you.

PDF of every receipt is available online 24 hours / day 365 days per year.

Receipts are available by job, by date, by vendor, or by category.

A PDF of a receipt will be accepted by the IRS if you are ever audited. Check out this article by Nicole Fende – The Number Whisperer where

she endorses Shoeboxed. http://smallbiztrends.com/2012/01/5-easy-ways-to-stay-on-top-of-your-accounting.html

Expenses by Customer Itemize your receipts by customer

A1 Service DateNum Name

Source Name

Memo

Clr Amount Balance

Cost of Goods Sold

08/01/2011 Smith Bill's Electric 600.00 600.00

08/01/2011 SmithMinnesota Supply 0.00 600.00

08/02/2011 SmithLarson Building Supply 21.37 621.37

08/02/2011 KnutsonMinnesota Supply 6.54 627.91

08/03/2011 KnutsonMinnesota Supply 9.64 637.55

08/03/2011 JohnsonMinnesota Supply 8.22 645.77

08/04/2011 JohnsonMinnesota Supply 587.34 1,233.11





08/06/2011 Johnson

Decking Supply House 34.03 1,453.66




Total Cost of Goods Sold 2,443.36 2,443.36

TOTAL 2,443.36 2,443.36

Receipts that should be billed to Johnson

Date Num NameSource Name Memo Clr Amount Balance

Cost of Goods Sold







08/06/2011 Johnson

Decking Supply House 34.03 816.11




Total Cost of Goods Sold 1,805.81 1,805.81

TOTAL 1,805.81 1,805.81

Unbilled receipts by customer

DateSource Name

Memo Account

Billing Status Amount

Smith

08/01/2011 Bill's Electric Cost of Goods Sold Unbilled 600.00Minnesota Supply Cost of Goods Sold Unbilled 0.00Larson Building Supply Cost of Goods Sold Unbilled 21.37

Total Smith 621.37

Knutson

08/01/2011Minnesota Supply Cost of Goods Sold Unbilled 6.54


Total Due 16.18

Johnson







08/06/2011

Decking Supply House Cost of Goods Sold Unbilled 34.03




Total Johnson 1,805.81

A1 Service Deck and

Patio Replacement

A1 Service has been contracted to replace a deck and add a concrete patio.

Based on the estimate, these progress payments were collected.

Payments Received

Initial Payment $ 2,500

Progress Payment $ 3,000

Progress Payment $ 3,000

Final Payment $ 1,500

Total Payments Received $ 10,000

A1 Service Deck and

Patio Replacement

These are the receipts that the business owner could find that were related to the job.

ExpensesMinnesota Supply $ 225

Minnesota Supply $ 325





Excellent Building Supply $ 140

Decking Supply House $ 60


Minnesota Supply $ 2,500

First Place Concrete $ 3,470

Total Expenses With Receipts $ 8,450

A1 Service Deck and

Patio Replacement

Based on the information that the business owner had, the owner made a profit of $1,550.

The business owner dutifully paid $470 taxes on the $1,550 that he made.

Total Payments Received $ 10,000 Expenses w/ receipts $ 8,450 Net Income $ 1,550

Pay Taxes on $ 1,550

FICA / Med. (15.3%) $ 237

Federal Tax (10%) $ 155

Minnesota Tax (5%) $ 78

Total Taxes $ 470

A1 Service Deck and

Patio Replacement

Unfortunately, the business owner forgot about the change order and left some of the receipts under his seat in the truck when the job was billed.

The concrete was billed in two statements. The second statement did not arrive before the final invoice was sent out.

Bottom line: The business owner actually lost $1,500 on the job.

Misplaced ReceiptsMinnesota Supply (Change Order) $ 120 Minnesota Supply (Change Order) $ 300



First Place Concrete $ 1,530 Total Misplaced Receipts $ 3,050

Total Payments Received $ 10,000

Expenses w/ receipts $ 8,450

Expenses w/ no receipts $ 3,050

Net Income $ (1,500)

A1 Service Deck and

Patio Replacement

Instead of making $1,550 the business owner actually lost $1,970.

Payments Received $ 10,000

Change Orders $ 420

Underestimated $ 1,080

Taxes $ 470

Total Expenses $ 11,970

Total Loss $ (1,970)

A1 Service Deck and

Patio Replacement

By correctly keeping track of costs, the business owner was able to turn a real profit of $1,550.

Payments ReceivedInitial Payment $ 2,500 Progress Payment $ 3,000 Progress Payment $ 3,000 Change Order $ 420 Change Order $ 1,100 Change Order $ 1,530 Final Payment $ 1,500 Total Payments Received $ 13,050

Actual Itemization of ExpensesExpenses w/ Receipts $ 8,450 Customer Change Order $ 420

Additional work based on actual conditions $ 1,100 Concrete $ 1,530 Total Expense $ 11,500

Net Income $ 1,550

A1 Service Deck and

Patio Replacement

If the job required 40 hours to complete, the company lost $49.25 for every hour the owner spent on the job.

Before EnglandRecordKeeping.com

A1 Service Deck and

Patio Replacement

By correctly tracking expenses and keeping the property owner informed, the company made $38.75 for every hour that the owner was on the job.

With EnglandRecordKeeping.com

Failing to keep good financial records is like driving a sports car at top speed with your eyes closed. It may be ok for a little while, but eventually you will crash and burn. http://smallbiztrends.com/2012/01/5-easy-ways-to-stay-on-top-of-your-accounting.html

Before EnglandRecordKeeping.com

$ (1,970)

Using EnglandRecordKeeping.com

$ 1,500

The Positive Difference $ 3,470

Would you pay someone $100 to keep from being in a head on collision at 70 mph? In fact it is hard to give an upper limit because you know the effects of a head-on collision would be devastating, potentially fatal. http://smallbiztrends.com/2012/01/5-easy-ways-to-stay-on-top-of-your-accounting.html

http://smallbiztrends.com/2012/01/5-easy-ways-to-stay-on-top-of-your-accounting.html






Extracting data so that you can make sound business decisions.

Date Num Name Source Name Memo Clr Amount

Cost of Goods Sold







08/06/2011 Johnson Elite Disposal 390.00




Total Cost of Goods Sold 2,161.78

VS.

EnglandRecordKeeping.com

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