So I’m finally switching from quicken (check register) to a full fledged accounting system (Accountedge for Mac). I’m having a little bit of trouble wrapping my head around recording daily income.
Our daily income comes in the form of Gross Sales which includes sales tax. That’s easy enough. I can break out Liquor v. Food in my POS - also easy enough.
Where I get into trouble is recording the CC deposits. The CC deposit each night includes tips and tax. We pay these tips to our servers out of the cash each night.
Additionally, while I know what % of our total sales are Liquor v. Food, I can’t easily determine that % as it applies to my CC sales separately.
Finally, the bank deposit doesn’t match the gross CC receipts b/c visa/mc takes their cut out of every ACH. But I have to wait until the next day to find out what that cut is.
My primary goals are to get an accurate financial snapshot of my finances as close to real time as possible but at least on a weekly basis (something I do now by spreadsheet) and to be able to generate an accurate PNL on demand.
So how do you guys handle recording your daily receipts? If you have a worksheet you use each day, I’d really appreciate it. I have very little accounting experience but really don’t want to hand everything to my accountant b/c I want more real time data than an accountant would allow.
Thanks in advance