Key Financial Transactions
Sure, here are the Key Financial Transactions that a spas and parlor services should record in bookkeeping:
1. Sales:
This includes all revenue generated from the sale of services, products, or memberships.
2. Cost of goods sold:
This includes the direct costs associated with providing the services or products sold, such as the cost of products used, wages paid to stylists, and rent.
3. Expenses:
This includes all other costs incurred in running the business, such as marketing, rent,
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Utilities, and Insurance:
1. Payroll:
This includes the wages paid to employees, as well as any payroll taxes and deductions.
2. Banking:
This includes all transactions related to the business’s bank accounts, such as deposits, withdrawals, and transfers.
3. Fixed assets:
This includes the business’s long-term assets, such as furniture, equipment, and buildings.
4. Liabilities:
This includes the business’s debts, such as loans and accounts payable.
5. Owner’s equity:
This represents the owner’s investment in the business.
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