If you are like most people, you have some kind of spreadsheet that tracks your income and expenses. While there are many ways to create a spreadsheet, I prefer to use the free software available to the public, because it gives me a lot more freedom.
With this type of program, you enter your information such as name, email address, date, and income and expense that you earn. The software will then generate a number of reports for you, based on your input. This is very nice because you can quickly change how you want your spreadsheet to look or alter how it’s laid out.
If you don’t know how to use Excel or have never used Excel before, you may want to try the free version first. The advantage with using the free software is that you can get a feel for what it’s like without actually having to purchase the program.
It’s best to have the spreadsheet open, and know what you want it to do before you run it. For example, if you are going to track your income, you want to know which days are profitable. You could use a spreadsheet to take the basic stats for your business and pull them down into a list, so you can see how your earnings stack up. This can give you an idea of how your business is doing overall.
If you have the spreadsheet set up to calculate your gross profit and expenses, you should be able to track your inventory as well. If you have customers paying for items they receive in the mail, you can easily see the cost of those items, along with how much of your monthly gross profit that is.
To add in your revenue and your gross profit, you simply need to enter in the product type and the price. The report will automatically tell you how much you spent on advertising to promote the product, and how much of your total expenses went towards marketing the product.
While the reports are fantastic, they can be boring, especially if you spend a large amount of time working on them. You can purchase additional features to speed up the process, such as a make money calculator.
Of course, when you purchase the program, you can customize the look and feel of your spreadsheet to whatever you want it to be. Of course, if you’re looking for a quick way to make some money, you’ll likely not be able to afford anything more, but you can track income and expenses easily using one of the free spreadsheets.