2017-04-05 00:00:00SalesEnglishDiscover the benefits of keeping a daily sales log. It will give you daily feedback on how your business is performing and prevent theft.https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/06/manager-checks-inventory-against-daily-sales-log.jpghttps://quickbooks.intuit.com/ca/resources/sales/benefits-keeping-daily-logs/The Benefits of Keeping Daily Sales Logs

The Benefits of Keeping Daily Sales Logs

1 min read

Although it sounds tedious, keeping a daily sales log is important for your business. Sales is the lifeblood of any business. Further, it’s only possible to improve meaningfully with measurement. The daily sales log will give you an objective look into your business’s revenue figures. A daily sales log should be completed at the end of the day with a recording of what has been sold and for how much. It should be reviewed by you or someone you trust to ensure that the entries are accurate. QuickBooks has a sales log feature, and entries are automatically tabulated into your quarterly numbers. Businesses lose billions of dollars every year due to employee theft. Keeping a daily sales log will ensure that employee theft is immediately identified, as the sales log should reconcile with the amount of cash in the register and in your business account. A sales log will give you a better handle on inventory, so you can prevent inventory running out if some item is selling very well. Additionally, it will give you feedback on what is not selling. You can use this feedback to refine your product offerings or adjust your marketing efforts. Basically, a sales log will give you a better understanding of your business’s finances and sales. Making a habit of completing the sales log daily will ensure that you can act promptly on any feedback it yields.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

Related Articles

7 Ways to Use Restaurant Accounting Software

When it comes to running a restaurant, there are a lot of…

Read more

Scrum Your Way to Product Development Success

Scrum is an agile framework for complex projects. It was developed in…

Read more

What Is a Reorder Point?

Managing inventory is an essential part of your small business, especially if…

Read more