Guidelines for Preparing a Payment, Receipt, and Overhead Report.

1. General Preparation Steps

Before creating any report, follow these steps:

• Collect all transactions for the relevant period (e.g., a month).
• Organize data by columns: Date, Particulars, Cheque No (if any), Debit, Credit, Balance..
• Identify transaction types using keywords in the "Particulars" column (e.g., "TO NEFT" = payment, "BY NEFT" = receipt).

A. Payments Report

A.1. Purpose:

To track outflows of money from the account — expenses, salaries, purchases, etc.
A.2. Steps to Create:

1. Filter transactions where the Debit column has an amount.
2. Record:
   • Date
   • Particular/Payee
   • Amount
   • Purpose/Category
3. Total all payment amounts at the bottom.

A.3. Example:

B. Receipts Report

B.1. Purpose:

To track inflows of money into the account — income, refunds, capital injections.

B.2. Steps to Create:

1. Filter transactions where Credit column has an amount.
2. Record:
   • Date
   • Source/From
   • Amount
   • Nature of Receipt (e.g. Sales, Refund, Capital)
3. Total all receipts at the bottom.

 
B.3. Example:

C. Overheads Report

C.1. Purpose:

To list indirect operational expenses — costs not directly tied to production but essential for running the business.

C.2. Steps to Create:

1. From the Payments Report, identify non-core operational expenses such as:
   • Rent
   • Utilities
   • Office supplies
   • Professional fees
   • Salaries (admin, HR)
   • Software, Bank fees, Loan EMIs
2. Group each payment by Overhead Category. The following are the common overhead categories.
   • Rent
   • Utilities
   • Office supplies
   • Taxes
   • Depreciation on fixed assets
   • Advertising expenses
   • Permits and licenses
   • Accounting and legal fees
     
3. Record:
   • Date
   • Description
   • Amount
   • Overhead Type

C.3. Example:

Best Practices

• Use Excel or Google Sheets for sorting and filtering.
• Use consistent naming for categories (e.g., "Utilities", "Payroll").
• Double-check debit/credit alignment before generating the report.
• Maintain backups and create monthly folders for organized storage.