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Bookkeeping All-in-One For Dummies, 2nd Edition
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Bookkeeping All-in-One For Dummies, 2nd Edition

by Lita Epstein, John A. Tracy
August 2019
Intermediate to advanced content levelIntermediate to advanced
608 pages
15h 28m
English
For Dummies
Content preview from Bookkeeping All-in-One For Dummies, 2nd Edition

Chapter 1

Buying and Tracking Your Purchases

IN THIS CHAPTER

Bullet Tracking inventory and monitoring costs

Bullet Keeping your business supplied

Bullet Paying your bills

To make money, your business must have something to sell. Whether you sell products or offer services, you have to deal with costs directly related to the goods or services being sold. Those costs primarily come from the purchase or manufacture of the products you plan to sell or the items you need to provide the services.

Remember All companies must keep careful watch over the cost of the products to be sold or services to be offered. Ultimately, your company’s profits depend on how well you manage those costs because in most cases, costs increase over time rather than decrease. How often do you find a reduction in the price of needed items? Doesn’t happen often. If costs increase but the price to the customer remains unchanged, the profit you make on each sale is less.

In addition to the costs to produce products or services, every business has expenses associated with purchasing supplies needed to run the business. The bookkeeper has primary ...

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Publisher Resources

ISBN: 9781119592907Purchase book