The Language of Small Business Texts and Vocabulary Training (for students of Economics) Part 1. Учебное пособие

Keeping the Record Straight

If you have lots of different items which you keep in stock, stock cards may be the most suitable way of recording what there is. With fewer items, a stock book may suffice.

Sales Invoises

This could be a printed form or it could be typed on business stationery and a copy kept.

Employee Time Sheets

For certain sorts of businesses, for example, manufacturing or assembly, records of how many hours employees work are important and are the basis for paying wages. You could keep a time book with a simple record of when the employee started work and when the employee finished for the day.

Petty Cash Vouchers

As the business gets bigger with more employees, a proper petty cash voucher will become a necessity. This should show the date, the employee who received the petty cash and what it was for. Any voucher should be signed by an appropriate responsible person with the authority to do so.

Record of Purchases (or Purchases Day Book)

This has already been described under the very simple system. The difference will be how often it is filled in once your business grows. Initially, when there are only a few items purchased, filling it in once a month may be sufficient; as there is more business activity, once a week or even once a day may be necessary.

Record of Sales (Sales Day Book)

This has also been described under the simple system. As your business develops with particular customers, you will find that you need to keep a record of sales per customer. So you have a record of what each person or business has bought from you.

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Cash Book

The cash book which you developed at the start of your business will suffice as it grows.

Wages Record

You have certain legal duties towards your employees. These include giving an itemized pay statement and deducting tax and national insurance contributions from salaries and wages. Proper records need to be kept. You must keep the following information for all employees:

•name and address;

•national insurance number;

•PAYE reference number;

•pay;

•pension deductions;

•any other deductions authorized by the employee.

The actual wages record needs to show the payments made:

•gross pay, with a breakdown of how this is made up, for example bonuses and commission, as well as basic wage;

•pension contributions;

•total pay this period;

•total pay to date;

•tax-free pay to date;

•taxable pay to date;

•tax due to date;

•tax paid to date;

•tax due on earnings for this period;

•employee's national insurance contributions this period;

•other deductions;

•net pay;

•employer's national insurance contribution.

This is also information which needs to be put on an employee's pay slip.

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Keeping the Record Straight

The Journal

This summarizes what has happened in the sales and purchases records, for example. It is also where information about fixed assets, and their depreciation, is entered. On the whole, unless you know something about accounting, this is probably something which your accountant or bookkeeper will keep up-to- date. It does not need to be maintained on a daily basis.

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Definitions of terms

Double entry, eccts. – the basic system of modern book-keeping by which each account has two sides, a debit side and a credit side, and each transaction (business deal) is entered twice, as a debit in one account and as a credit in another. The rule is: debit the receiver, credit the giver. Every debit must have a corresponding credit. If all the entries have been correctly made, the total of all the debits must at any time equal the total of all the credits. By this simple check, mistakes can be quickly found and corrected.

Cash book, accts. – a part of a set of accounts which is both a book of prime entry in which is recorded all cash received and paid (cash here including cheques and money in the bank) and at the same time a ledger account. Sometimes it may for convenience be divided into two, a cash received book and a cash paid book. A two-column cash book has columns for cash and bank on both the debit side and the credit side. A three-column cash book has an extra column for discounts.

Voucher:

(]) accts. – a receipt for money paid;

(2) any document that proves or supports an entry in the accounts, e.g. a petty-cash voucher.

Petty cash, accts. – a sum of money kept in the office of a business, usually in a strong cash box or petty cash box, from which are paid those small expenses that cannot be settled by cheque. A petty cash account is kept usually by a junior cashier called a petty cashier, in a petty cash book.

Abbr.: Р/С

Summary

1.Вам нужно вести учет, чтобы подтверждать цифры в от- четах для налоговых органов и аудиторов, если у вас компания с ограниченной ответственностью.

2.Планирование предпринимательства и его контролиро- вание не может быть достигнуто, если отчетность неаде- кватна.

3.Методическое ведение отчетности намного важнее, чем установка очень сложных систем.

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