Enter a summary of sales and cash receipts in an income ledger. Record all payments made by cash or check. Enter deposits in your business checkbook to keep the balance current. Record inventory, adding any new items received. Review accounts receivable, and take action to collect from slow payers.
Review accounts payable, remembering to take advantage of discounts.
Deduct items sold from inventory, adjusting records to reflect the week's sales. Reconcile your checking account records to your bank statements to ensure that both sets of records are in agreement. Total all ledgers. Compute monthly totals for sales, expenses and payroll. Make tax deposits.