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BUDGET SUMMARY Page 2 A 1 B Begin entering data on Est Rev 510 and Step 1117 tabs. Acct # Description 2 3 ESTIMATED BEGINNING FUND BALANCE July 1, 2015 1 4 RECEIPTS/REVENUES 5 LOCAL SOURCES 9 Total
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How to fill out total direct receiptsrevenues
How to fill out total direct receipts/revenues:
01
Start by gathering all relevant financial documents and records, such as sales receipts, invoices, and cash register tapes.
02
Calculate the total amount of revenue generated directly from the sales of goods or services. This includes any income from sales, consultations, rentals, or any other revenue directly related to the core business activities.
03
Exclude any indirect or non-operating revenue, such as investments, interest, or rental income from non-business assets.
04
Include any discounts or allowances given to customers, as these affect the final revenue figure. Subtract these amounts from the total revenue.
05
Ensure accuracy by double-checking calculations and cross-referencing with supporting documents.
06
Once the total direct receipts/revenues have been calculated, record the figure accurately in the designated field or document.
Who needs total direct receipts/revenues:
01
Small business owners: They need to keep track of their total direct receipts/revenues to accurately monitor their business's financial health and assess its growth or decline.
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Accountants: They require the total direct receipts/revenues to prepare financial statements, including income statements and balance sheets, for businesses.
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Tax authorities: They use the total direct receipts/revenues as part of their assessment process to determine the taxes owed by businesses and ensure compliance with tax regulations.
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Investors and lenders: They rely on the total direct receipts/revenues to evaluate the viability and profitability of a business before making investment or lending decisions.
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