Managing the sales and its accounts in a small business is a simpler task than the management in a big business. Nevertheless, proper planning is very much required irrespective of the business size, if a higher market share needs to be achieved. This can be done, if the company is aware of its income sources and income amounts properly. A small business sales tracker worksheet presents the data of the sales clearly to the stakeholders, which helps in managing and projecting resources better.
What is a small business sales tracker worksheet?
It is a spreadsheet that records all the data relevant to the sales of a small business. The data can be recorded on a daily, weekly, monthly, or yearly basis in this sheet. It helps in letting the business owners know the type of sales their organization has made, which item is most popular, what is the trend of sales, what will be the forecasted sales figures, how to do better budgeting, etc. The sheet presents the detailed as well as the whole figures of the sales. However, as this is for a small business, it is a simpler version of the one that is used for big businesses.
What are the benefits of a small business sales tracker worksheet?
There are many advantages linked to this spreadsheet, which include the following:
- Clear presentation of sales figures.
It vividly shows the figures of each and every sale along with their totals, which helps in minimizing any ambiguities for the business as well for the auditors.
- Track and sort sales, and manage sales and inventory.
It helps in figuring out the sales by different categories as well as helps in managing the inventory of products. For instance, if one item is being sold at a higher rate, if the sales are exactly known, the business would know how much product needs to be increased.
- Aids in budgeting.
The small business can forecast its sales better by having the actual and past sales figures to manage and budget the resources well. This would lead to an overall increase in productivity and profitability.
- Helps in dividing the marketing and advertising budget.
The popularity of items, and the products having low demand or awareness, can be reflected through their sales. The organization can manage its marketing and advertising budget accordingly. For instance, if a product has low public awareness, the organization can spare more money for its advertisement.
What are the main components of a small business sales tracker worksheet?
The main components of this sheet may vary from one owner to another, and from one type of business to another. However, generally, the following fields are included:
- Serial number.
- Receipt number.
- Date.
- Item name.
- Item category.
- Price per item.
- Payment type, such as cash, card, accrual, prepayment, etc.
- Sales tax.
- Total sales tax.
- Any cost borne by the seller, like delivery charges, etc.
- Total sales.
- Total income from sales.
