Orchid Bookkeeping, Bonnybridge FK4 1BE
TEL: 01324 466101
Mob: 07835 515206
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.
|Profit & Loss|