How can I know how much my business made this month?
Look at the profit and loss for the month: sales minus expenses. It is only right if every invoice, cash sale, supplier bill and payroll is recorded, so the quickest way is a system that records them as they happen and gives you the figure on demand.
What goes into it
Sales from invoices and counter, minus expenses: supplier bills, rent, utilities, salaries with EPF and SOCSO, and other costs.
Profit is different from cash
A month can show profit while cash is short, because customers have not paid yet. Look at money owed to you too.
Check it monthly
Compare with last month and the same month last year, and look at your biggest costs. Small changes caught early save the most.
How Mei helps
Ask Mei on WhatsApp "how much did we make this month?" and she replies with income, expenses and profit from your books, with a PDF report attached. Ask "who still owes us?" to see the money still to come in.
Updated · Lucco Technology