This shows the income activity for the month. Henry carries the total monthly net sales shown in this summary for January ($4,865.05) to his Annual Summary.
To figure total monthly net sales, Henry reduces the total monthly receipts by the sales tax imposed on his customers and turned over to the state. He cannot take a deduction for sales tax turned over to the state because he only collected the tax. He does not include the tax in his income.
Year 20-- Month January
| Day | Net Sales | Sales Tax | Daily Receipts | Deposit |
| 3 | 263.60 | 4.20 | 267.80 | |
| 4 | 212.00 | 3.39 | 215.39 | |
| 5 | 194.40 | 3.10 | 197.50 | 680.69 |
| 6 | 222.40 | 3.54 | 225.94 | |
| 7 | 231.15 | 3.68 | 234.83 | |
| 8 | 137.50 | 2.13 | 139.63 | 600.40 |
| 10 | 187.90 | 2.99 | 190.89 | |
| 11 | 207.56 | 3.31 | 210.87 | 401.76 |
| 12 | 128.95 | 2.05 | 131.00 | |
| 13 | 231.40 | 3.77 | 235.17 | |
| 14 | 201.28 | 3.21 | 204.49 | |
| 15 | 88.01 | 1.40 | 89.41 | 660.07 |
| 17 | 210.95 | 3.36 | 214.31 | |
| 18 | 221.80 | 3.53 | 225.33 | 439.64 |
| 19 | 225.15 | 3.59 | 228.74 | |
| 20 | 221.93 | 3.52 | 225.45 | |
| 21 | 133.53 | 2.13 | 135.66 | 589.85 |
| 22 | 130.84 | 2.08 | 132.92 | |
| 24 | 216.37 | 3.45 | 219.82 | 352.74 |
| 25 | 220.05 | 3.50 | 223.55 | |
| 26 | 197.80 | 3.15 | 200.95 | |
| 27 | 272.49 | 4.34 | 276.83 | 701.33 |
| 28 | 150.64 | 2.40 | 153.04 | |
| 29 | 224.05 | 3.56 | 227.61 | |
| 31 | 133.30 | 2.13 | 135.43 | 516.08 |
| Total | 4,865.05 | 77.51 | 4,942.56 | 4,942.56 |
Information courtesy of the Internal Revenue Service.
Sample Record System:
Daily Summary of Cash Receipts
Monthly Summary of Cash Receipts
Check Disbursements Journal
Employee Compensation Record
Annual Summary
Depreciation Worksheet
Bank Reconciliation
