I come across many businesses who are using cash to pay for small items of expenditure. They use the receipts for their bookkeeping, or make them available to us when we are doing their bookkeeping. Some even do a little spreadsheet for this expenditure-which is nice-bless you!
One way of making this task easier is to use a credit/charge card for your business account (if its available). You simply use this to pay for everything and everywhere that accepts the cards. This way:
1. The bank have summerised the expenditure for you, saving you the job!
2. Everything goes through your business account, so is traceable and much easier and quicker to do your bookkeeping from. You get a statement every month showing exactly what you've spent. With cash its easy to lose the receipts, and its fiddlier to do the bookkeeping.
3. If you lose the statement, then you can request another. With cash receipts, if you lose them- you'll have a job trying to get replacements!
This simple method will save you time, make the bookkeeping less hassle and improve your record keeping.
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