18/09/2017
DAILY RECORDING OF BUSINESS TRANSACTION - SMALL BUSINESS MANAGER LITE (SBML) YOUR COMPANION!
In the quest to help Small Businesses to operate more efficiently and become profitable, Monis Services has just release a support tool to help small businesses manage their daily business transactions. Small Business Manager Lite, SBML, is a desktop application solutions that run on Microsoft suite, it has four sections of business management these includes:
1. Financial Management
2. Inventory Management
3. Payroll Management
4. New Business Development
BRIEF OVERVIEW:
Recording your day-to-day sales, purchases and other transactions is a must. Learn where to record what, and how often to do so. Control of your financial recordkeeping begins with accurately recording pertinent transactions. our desktop application tool (Small Business Manager Lite, SBML) allows you to record:
1. Sales and revenue transactions, including cash transactions
2. Accounts receivable, if you extend credit to your customers
3. Accounts payable, if you purchase from your suppliers on credit
4. Petty cash tracking
5. Bank transaction tracking
6. Cash deposit with suppliers
6. Customer's cash deposit for awaiting products
7. Summaries of transactions in your general ledger
8. Comprehensive Payroll management with auto generation of employment letter, salary review memo, payslip, salary payment bank advice, overtime, statutory deductions, Annual leave advice & calculation of Personal Income Tax
9. New business venture financial modeling.
Consider Separate Accounting for Different Product Lines
If you have more than one product line or department, you may want to keep a separate set of books for each. Many entrepreneurs find separate accounting provides more meaningful information for their products. The practice may reveal that one product line or department is profitable and another is not.
Unfortunately, it may be difficult to keep a separate set of books for each product line or department. For example, some or all expenses may not apply to only one department, but must be allocated among departments. Small Business Manager Lite (SBML) allows you to do that, no limit to what you can do with our customize small business solution.
Maintaining Sales and Cash Receipts Journals
Small Business Manager Lite, combined sales and cash receipts journal. It allows you to record all sales (cash and credit) and all cash receipts, including collection of accounts receivable, in one journal.
Entries in your sales and cash receipts journal come from the source documents you use in your business every day. These documents are sales invoices, daily cash register totals, daily cash sheets and daily sales registers.
Keeping Tabs on Sales Invoices
If you use sales invoices, you will post the information from each invoice to an entry in the sales journal. If you maintain customer charge accounts, you will also be posting entries to the accounts receivable ledgers so that each customer account is up-to-date. Sales invoices should be numbered.
While you can store paper copies in file cabinets, tracking invoices digitally makes much more sense.
Daily sales can be totaled on the cash register. Small Business Manager Lite is able to separately record cash sales and charge sales, and keep track of sales tax. It also record cash received on account, for easy tracking.
Auto Reporting System
Small business manager lite (SBML) is able to generate live financial reporting which includes:
1. Income Statement
2. Cashflow Statement
3. Profit & loss Statement
4. Balance Sheet
5. Automatic Bank Reconciliation
Balance Sheet Analysis:
Small business manager lite (SBML) is able to generate some common financial ratios from the balance sheet to help you determine the health of your enterprise, these ratios includes:
1. Debt Ratio
2. Current Ratio
3. Working Capital
4. Assets-to-Equity Ratio
5. Debt-to-Equity Ratio
