Financial

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Bookkeeping & Disbursements

Purpose: To clearly track and distribute income and expenses for all materials, labor, sub-contractors, overhead, taxes and retained earnings.

Weekly Categorization

  • Download the weekly receipts. Go to the Expense Receipts > Upload to the Receipts folder > Format each receipt into year month day - vendor - amount (i.e. 2026-04-03 - Home Depot - 13.22)

  • Download the CSV file. Go to Chase Bank accounts > Go to each account > Download the CSV file.

  • Format the data. Go to the Budget > Add a new sheet > Copy and paste the date, description and the amounts from the CSV file into the new sheet > Format > Clear format > Change font (Lato, 8) > Put amounts into debits (-) and credits (+) > Copy and paste into the Transactions tab > Delete the new sheet.

  • Categorize the transactions. For each new transaction, do the following.

    • Categorize the transactions

    • Add the account (Operating, Revenue, Taxes, Retained Earnings)

    • If needed, add the project PO (found in the Expense receipts)

    • Link the receipt to the file in receipts. (Command+K)

    • Add any notes

Weekly Disbursements (every Friday)

  • Calculate the disbursements for each completed project.

    • Revenue - Cost of Goods Sold = Gross Profit

    • Gross Profit - Overhead = Net Profit

    • Net Profit - Retained Earnings - Taxes = Owner Draw

  • Log into the bank accounts. Log into the Chase Bank accounts.

  • Revenue → Operating. Keep $5,000 in the Operating account. Reimburse any material purchases, labor costs or overhead from the prior week.

  • Revenue → Taxes. Transfer 25% of the net profit into the Taxes account.

  • Revenue → Retained Earnings. Transfer 5% of the net profit into the Retained Earnings account.

  • Revenue → Owner’s Account. Transfer the remaining of the net profit into the owner’s account.

Monthly Reconciliations (1st Friday of the Month)

  • Download the bank statements. Download the Chase Bank Statements.

  • Reconcile each transaction. Review each transaction in the statement and reconcile it to the transaction in the Budget. Each transaction in the budget should have a date, vendor, amount, category, account, project, note and receipt (It’s easier to print off the bank statement and work your way through until you find the mistake).

  • Upload the bank statements. Upload the reconciled statement to bank statement folder, formatted as 0260130-statements-1031-.pdf

Payroll

  • Open the calendar. Open the individual’s calendar.

  • Calculate the hours. Go to Time Calculator > Add all the time together > Multiply their hours x their rate. (Use the GC Tools app for Google calendar to get the time amounts).

  • Make the payment. Log into the Chase Bank accounts > Click the individual > Add the amount > Pay from Operating > Send today’s date > Add the week date range in the message memo > Next > Review and Send Money.