Orchid Bookkeeping.

TEL: 01324 466101

Mob: 07835 515206

EMAIL: enquiries@orchidbookkeeping.co.uk


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SALES


Sales are also known as the Turnover or Revenue of a business.


If you sell more than one type of product or service these can be broken down to show Sales of each product.  This can help show which product/service is more profitable, although only if you also breakdown the related costs.


Unless you are a retailer and operate a till or Card Payment system you should raise a Sales Invoice to each of your customers, or at the very least issue the customer with a receipt using a pre-numbered receipt book.


Your Sales Invoices or Receipts should be consecutively numbered, you may have a letter and number combination with some logical sequence to show that all your Sales have been accounted for.


If you are a retailer all till rolls must be kept as proof of your sales and any reports/receipts from your Merchant Account


You must register for VAT before your Sales/Turnover reaches £79K.  You can voluntarily register for VAT at any time.



Purchases



General Ledger



Cashbook



VAT Return



Profit & Loss Report


Drawings


Tax Return



Sales