Downeast Ledger & Payroll Services

08/14/2026

🧾 Your bank statement tells you where the money went—but that doesn't always tell you what you actually bought.
One trip to Walmart could include equipment, office supplies, or several different types of purchases.
That's why the details matter when keeping accurate books.
Every Transaction Tells a Story 😉

08/14/2026

🧾 Your bank statement says:
Walmart — $281

That's useful information.

But it doesn't tell me what you bought.

Was it equipment? Office supplies? Something personal? Did the receipt contain several different types of purchases?

The bank transaction tells me where the
money went.

The receipt helps tell me why.

That's why receipts can matter so much when you're trying to keep accurate books.

And yes...this is why your bookkeeper keeps asking for them. 😉

08/12/2026

💵 You send a customer a $1,000 invoice.
Your books show the sale. Your bank account doesn't show the $1,000.

So where's the money? The customer hasn't paid you yet.

That's the difference between making a sale and actually collecting the money.
The invoice tells you what the customer owes you. The payment tells you when you actually received it.

That's why I don't want to look at sales without also knowing what's still sitting in Accounts Receivable.

08/10/2026

08/10/2026

Every transaction tells a story and sometimes one receipt tells more than one. 😉

I recently bought a printer and printer paper at Walmart. They're on the same receipt, but that doesn't necessarily mean they belong in the same category.

🖨️ Printer → Equipment
📄 Printer paper → Office Supplies

One receipt can contain multiple types of purchases. That's why understanding what was actually purchased matters before choosing a category.

08/07/2026

💰 An employee earns $20 an hour.
Does that mean the employee costs the business $20 an hour?

Not exactly.

There can also be employer payroll taxes, unemployment taxes, workers' compensation, benefits, payroll costs and other expenses that come with having employees.

That's why looking at wages alone doesn't always show you the full cost of hiring.

💬 When you're planning for a new employee, are you looking beyond the hourly wage?

08/05/2026

💰 Two businesses can both make $10,000 in sales and have completely different stories behind that number.

Maybe one service brought in $7,000 while three others brought in the remaining $3,000. Or maybe one type of job brings in plenty of revenue but costs so much to complete that another type of job is actually more profitable.

That's why I like looking beyond total sales.
Knowing where your revenue is coming from and what is actually profitable gives you a much better picture of what's happening in your business.

💬 Do you know which part of your business makes you the most money?

08/03/2026

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Downeast Ledger & Payroll Services

Helping Small Businesses Stay Financially Organized

08/03/2026

🤔 Why doesn't my bank balance match my Profit & Loss?

Your bank balance tells you how much money is in your account today. Your Profit & Loss report tells you whether your business is making money over time.

That's why I encourage business owners to look at both. Together, they give you a much better understanding of how your business is really doing.

💬 Which one do you check more often: your financial reports or your bank account??