This is not a formal balance sheet, we see from accounting standards. This basically touches on the overall picture of my financial status, a sum up of the small entries i had in the month.
A look back into my past entries. Pretty proud of myself for recording them for 5 years (since 2005)!! Back then, my accounting heading only consist of
| Date | Cash in Bank ($) | Cash on Hand ($) | Overall | Pay ($) | Remark |
Straightforward and simple accounting. End of month, just enter the amount in Bank and in my wallet. Add them up and compare the difference with the previous month. Also record the pay i getting for that month. Then, there is no fixed date for the entries. I recorded any day of the month. Find that its not accurate and does not reflect the difference between the months.
Now i had
| Date | Cash(Bank)
| Cash(Hand)
| Saving | Liability | Total | Available | Overall | Amt | Pay
| Remark |
My accounts getting a little more complicated. I have opened up a saving account on 2008 and started holding money of others
. Hence explained for the extra Saving, Liability and Available. With the extra money of other, can mislead me into thinking that i still have much money in my bank. Making me more tempted to take up high in value projects.
Hoping to add in the money i made from my 'projects', maybe "Earnings", so to give a clearer picture of my Finance Status.
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