
31/01/2024
Expense tracking involves tracking and recording everything that is bought daily, weekly and monthly in the course of running your cake business.
And using the information to assess your business performance and profitability against the revenue made from selling your cakes.
A good place to start is to always ask for receipt of purchase from your vendors or suppliers everytime you buy ingredients and other supplies for your business.
By understanding where your money goes, you are able to capture hidden costs, identify unnecessary spending, and make informed financial decisions to improve your bottom line and achieve long-term success and profitability.
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