MONTHLY RECAP STATEMENT
INSTRUCTIONS and FORM

TRANSFERS TO PERSONAL ACCOUNT: Payments to yourself. Please review the section under tax planning that explains in detail how to calculate your “Salary”. This expense category should not include payments you make to other people - including your spouse or children - who you may pay to help you run the business. Those payments are either Part Time Help Expense or Payroll Expense.

FEES & COMMISSIONS: Membership dues and fees, such as Chamber of Commerce dues, vending commissions and other similar fees.

INCOME TAX EXPENSE: Payments of Federal or State Income or Social Security taxes, including estimated quarterly tax payments.

INSURANCE – HEALTH: Health insurance premiums only.

INSURANCE  – OTHER: All other insurance expenses related to your business, including auto, general liability, business interruption, disability, etc. Do not include any Insurance Expense paid as a Settlement Deduction. This will be reported on the Monthly Settlement Statement Report.

LEASE OR RENT PAYMENTS: Any lease payments for business purposes, such as warehouse rent, truck lease, etc. Do not include any Lease or Rent Expense paid as a Settlement Deduction. This will be reported on the Monthly Settlement Statement Report.

LEGAL AND ACCOUNTING: Any legal or accounting costs related to your business, including your monthly fee to DSA for your tax and bookkeeping services. Do not include any Accounting Expense paid as a Settlement Deduction. This will be reported on the Monthly Settlement Statement Report.

LOAN PAYMENTS: Loan payments for business assets, including purchase of your route, truck, etc. Do not include any Loan Payments paid as a Settlement Deduction. This will be reported on the Monthly Settlement Statement Report.

OFFICE SUPPLIES: Pens, paper, sales pads, computer batteries, check printing costs, small equipment purchases, etc. Be sure to add the total of checks written and the total from the Office Supplies Column in the Cash Expense Log in the MiniBook. Also included is your business cell phone and job uniforms.

PART TIME HELP: Payments to people who help you run your business (other than payroll employees those for whom you withhold and deduct taxes). Route relief drivers, children who help in the business, etc. are all listed here. Be sure to add the total of checks written and the total from the Part-time Help Column in the Cash Expense Log in the MiniBook.

PAYMENTS TO PRODUCT SUPPLIERS: Purchase of products you resell, either from your principal supplier or others. Do not record Product purchases reported on your Weekly Settlement, only those paid for by check or cash.

PAYROLL TAX EXPENSE: All payments for any "employees" in your business for whom you make deductions and withholding payments. As a small business corporation, you are required to maintain a payroll for yourself. DSA will send quarterly tax payment estimates and specific payment instructions concerning your “salary”.

SALES TAX: Most distributors do not have to pay Sales Taxes, but if you sell at retail or as a vend distributor, you will have to pay this expense.

TRANSFER TO RESERVE: Any transfers from the checking account to your reserve account. (See Reserve Account discussions in Tax Planning Section). Remember that whenever you deposit or transfer money from the Reserve Account back into the checking account to pay an expense, you should not include that amount in the deposits figure entered on Line “B” Total Deposits.

VEHICLE EXPENSE - MAINTENANCE & REPAIR: All expenses (other than Gas and Oil) incurred in operating your business vehicle, including tires, batteries, repairs, etc. Be sure to add the total of checks written and the total from the Vehicle Expense - Maintenance & Repair Column in the Cash Expense Log in the MiniBook

VEHICLE EXPENSE - GAS & OIL: All Gas and Oil expenses incurred in operating your business vehicle. Be sure to add the total of checks written and the total from the Vehicle Expense – Gas, Oil & Tolls Column in the Cash Expense Log in the MiniBook

SUSPENSE: We call this the “I don’t know” Expense. It’s for any expense you don't know how to classify. Remember to provide detailed information concerning the expense in the space provided at the bottom of the Recap. DSA will classify it for you and advise you where it should be posted in the future.