📣How to make an income-expense account to send the bank

📣How to make an income-expense account to send the bank

For this article, we will present about the methods of accounting for income and expenses to be sent to the bank to leave each other. If you're ready, let's go see it.

which in the management of transactions related to cash in receipt and payment According to the announcement issued by the Director-General of the Revenue Department regarding income tax, it has been determined that those who are obliged to pay income tax of natural persons who have not yet been registered with respect to VAT registration and have in the income portion should be assessed under Section 40(5)-(8) of the Revenue Code. for the benefit of tax collection

By accounting for income and expenses, which are mostly done for the following purposes:

1. Recognition of the income of one's own business

2. Applying for loans related to various financial institutions

🔸 Methods for accounting of income and expenses to send to the bank

The things you need are as follows:

1. The income that you received from the business must be credited to the account to be listed in the statement.

- There should be cash to be deposited into a bank account.

- Deposits must be made regularly or, if possible, deposited in every weeks to show that you are earning consistent

- There should be no money brought in. and make withdrawals within the same day continuously Because the bank will see it as entering through the account only.

- and should be deposited in the name of those who wish to borrow for a period of time

2. There is a collection of the receipt. Receipt of expenses for payment for the benefit of the business when the money is received

- various receipts

- delivery receipt

- Purchase receipts that have been used as costs

- Receipt for receiving money

🔸 Occupations that require accounting for income and expenses

There are 3 types as follows:

1. Professions related to trading store business Jobs in service of various types

2. Occupation

3. Occupation related to farmers in farming, farming and gardening.

In all three types of accounting, the same formula is used for accounting: subtracting revenue from costs equals profit/loss.