Inside the file
- 01This month, where you type the cash, the open invoices, and the bills
- 02Looks fine, a finished March with every figure still on a formula
- 03The pay-yourself figure, the cash-minus-bills figure, and the line that rebuilds one from the other
- 04What you could pay yourself if the open invoices arrive, with deposits still held
A month can look fine after you subtract the bills. The cash can still hold a deposit you have not earned, sales tax that belongs to the state, and tax from an earlier month that never made it into the jar. This file takes those out and names what you can pay yourself.
You type the cash that arrived and mark each row: income, a deposit, sales tax, or a reimbursement. You type the bills and mark each one business or personal. Business bills reduce profit before the hold-back. Personal bills are paid from what you can pay yourself, so they do not shrink the tax.
The free sample is a finished March. Cash minus the bills is $2,314. What you can pay yourself is $1,182.40. After $900 of rent, $282.40 is left. The page after that is the arithmetic, so you can check it before you pay.
The file is one month for one person who sends invoices. The hold-back is a percent you type. It is not a tax return, and it does not see the rest of the bank account.
Good for
One person who invoices clients, holds back tax, and has been paying themselves whatever is left after the bills.
Leave it
A firm with payroll, or a month you are handing to an accountant to file. Close the Month still adds up the month on paper. This file is the amount you can move to yourself.
Before you pay
Is this a tax return?
You type the percent you hold back. The sheet reserves that percent of profit, plus tax still owed from earlier, minus whatever is already in the jar. Your accountant still owns the rules where you live.
What if a client paid a deposit?
Leave the kind as Deposit until you deliver the work, then change it to Income. Do not also put that deposit inside the open invoice. The sample’s March keeps a $1,000 deposit out of pay.
Why is cash minus the bills higher?
That figure includes deposits and sales tax, and it subtracts personal bills before the tax reserve. The sheet holds the deposit, the sales tax, and the tax still to reserve. Personal bills come out of what you pay yourself.
Do I list the sales tax I send to the state?
Sales tax you collected is already held. Listing the payment again under bills would take it out twice.
What about a reimbursement?
A reimbursement is a cost you already paid, now paid back. It is included in what you can pay yourself. It is not profit, so it does not raise the hold-back. Do not list that cost again under bills.
