If you calculate your sales margins by subtracting the cost of inventory from your retail sales amounts, you might feel that you have a handle on your true profitability. However, using a simple formula for determining whether a product is profitable for your company doesn't always reveal true profit margins. From factoring in advertising and marketing costs to understanding the human costs of service, you may very well be overlooking many factors when calculating your sales and profit margins. To make sure you have a full picture, consider the following:
When it comes to a company’s bookkeeping practices, the business will only operate as efficiently as the processes.
Whether you have been in business for decades, or you are just getting started, money management can be an issue no.