Know your numbers. You should always know your daily sales, expenses, profit and cash balance.
What to do
- Track daily sales and the number of completed orders, not just money received.
- Record every operating expense, including small transport, packaging, data and transfer charges.
- Review cash balance and expected obligations so you know what money is actually available.
Watch out for
Do not wait until month-end to discover that expenses have been rising faster than sales. A simple daily habit is more useful than a complicated report that is rarely reviewed.
Example
A merchant may notice that Friday sales are strong but delivery and discount costs are also highest on Fridays. That insight can change pricing, staffing or delivery rules.
Keeping orders, sales, payments and products in one system gives merchants a cleaner foundation for understanding their numbers.
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