Getting paid, managing cash and keeping simple, accurate books: reminders, advances, P&L, balance sheets, reconciliation and a monthly checklist for small businesses.
A practical monthly bookkeeping checklist: sales, purchases, payments, bank reconciliation, GST and TDS, and reports. Print it or copy it into your tracker.
Gross profit vs net profit: calculate both and their margins step by step, understand COGS, and see why a healthy gross margin can still mean a weak net profit.
Bank reconciliation, step by step: match your statement with your books, find missing entries, explain timing differences and fix errors. Example included.
Categorise business expenses correctly: direct vs indirect, capital vs revenue, and the categories every small business needs, with Indian examples.
A balance sheet shows what a business owns, owes and what belongs to the owner. Learn assets, liabilities and equity with a simple small business example.
Build a simple profit and loss statement step by step: revenue, direct costs, gross profit, operating expenses, net profit and margins, with a sample.
Cash flow vs profit: a business can be profitable and still run out of cash. See the difference with a simple credit-sale example, and what to do about it.
How to handle advance and partial payments: request advances, issue receipt vouchers, adjust advances on the final invoice and record part payments.
Ready-to-use payment reminder messages for before the due date, on the day, after it and a final notice, in email and WhatsApp formats for India.
Track outstanding customer payments with a receivables list and an ageing report, set reminder steps and use MSME protections. Worked example included.
