Running a sari-sari store is a fantastic way to serve your community and be your own boss. But keeping track of your finances can feel overwhelming! Here are some simple bookkeeping practices to help you manage your sari-sari store effectively:

1. Gather Your Supplies:

  • Notebook or Ledger: A dedicated notebook or ledger will be your record-keeping haven.
  • Pens: Choose two pen colors – one for income and one for expenses.
  • Calculator: This will come in handy for adding and subtracting your daily transactions.

2. Record Every Sale:

  • Daily Sales: At the end of each day, write down your total sales amount in your notebook.
  • Separate Cash Flow: If you offer credit or “utang,” keep a record of these sales separately.

3. Track Your Expenses:

  • Record Everything: Keep track of all of your shop expenses, from buying supplies to paying bills.
  • Categorize Expenses: Sort your spending into categories such as “inventory,” “rent,” “utilities,” and “transportation.”
  • Receipt Power: Always keep your receipts and store them safely.

4. Weekly Cash Count:

  • Take Stock: Once a week, count all the cash you have in your store.
  • Compare Numbers: Match your cash count to your total recorded sales for the week, minus your documented expenses.
  • Discrepancies? If there’s a difference, don’t panic! Review your records and cash drawer to identify any errors.

5. Inventory Check-In:

  • Regular Inventory Checks: Every few weeks, do a quick inventory check.
  • Compare and Contrast: Compare the physical stock you have on hand with the amount you purchased.
  • Mind the Shrinkage: This will help you identify any missing items due to spoilage, theft, or errors in record-keeping.

Bonus Tip: Upgrade When Ready!

  • Mobile Apps: As your business grows, think about utilizing basic mobile apps developed for sari-sari store bookkeeping.
  • Seek Help: If bookkeeping becomes overwhelming, don’t be afraid of getting help from a friend or family member who is familiar with basic bookkeeping principles.

Following these easy techniques will provide you with some valuable details about the financial health of your sari-sari store. This allows you to make more informed business decisions, such as which products sell well and how to properly manage your budget. Remember, strong bookkeeping habits contribute to a smoother and more profitable sari-sari store.

By Admin