In australia, you need an invoice, that invoice must be retained for 5 years legally.
It shows the name of each participant, the amount issued, the gst etc..
Usually its a printed document, If i gave someone a pencil and paper invoice they would laugh at me.
Although that gives me an idea, handwritten illustrated letter headers photocopied with a real invoice layout at the bottom by an accounting package.
Pencil and paper creates more hassle for you at tax time and your accountant if you have one.
Please dont suggest its easier then Quicken, I know from experience its not.
Showing the tax man your pencil work is great if you want to get audited.
If you are just starting out you will need an invoice book, never seen one myself written with a pencil, usually a biro accompanied with a stamp. yeah retro blue ink paper to print it in triplicate, you know those invoices fade over time creating more hassles.
Any purchase you buy from a store is going to be in pencil as well.
1 x Panasonic 42 inch plasma screen $1700, "heres your hand written receipt sir".
"thanks!, let me add that to my red ledger "licks pencil" 1 x 43...
dammit, have you got an eraser?
"this is an electronics store sir."
Since you put it that way, yes i am suggesting that in 2007 as well as being a programmer that you would suggest a pencil and paper over a digital spreadsheet / accounting package and a printer instead of a pencil.
Seriously if you wanted to play it even smarter you would set up a credit card for the business and run it completely off that, in turn all the spenditure is recorded digitally for your record keeping and accountant and you earn flybys or rewards. you have 55 days to pay off the card allowing your business to breathe if something goes wrong etc.etc.
No wait lets write I.O.U's on paper pfft.
lol, pencil and paper, you crack me up mate.
