How to Keep Daily Records of Sales for Your Business Easily

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With Bumpa, recording daily sales for your business is easier. It doesn’t end there; Bumpa provides you with a host of features for business management - generate invoices & receipts, manage your inventory, get business analytics, manage your orders and more!

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Sometimes, when you ask a business owner for some information about their business, they either:

1. Don’t have it off the top of their head and need to dig into their books to give you this, or,

2. They don’t have it at all, because they haven’t been keeping records.

No matter the size of your business, keeping records of your sales, products, customers, expenses and everything else has a lot of benefits, especially if you’re planning to grow and expand, apply for business loans, get business visas, get investments and grants and so much more.

Truthfully, it can be a lot of work, especially if you’re writing everything down. It’s easy to forget to record one or two sales, and before you know it, your entire system is scattered and you either have to do a lot of backtracking (which is tedious!) or toss the entire system and start from scratch. Plus, understanding data at a glance if you’re recording in books is almost impossible.

In this article, we’re going to discuss how to keep daily records of sales for your business easily by using the right tools and apps! Let’s delve in.

Related: How to Manage Online Orders for Your Business More Efficiently!

Why You Should Keep Daily Records of Sales for Your Business

Let’s start from the beginning. Thinking that your business is just starting out and therefore, you don’t need to have processes ‘yet’ is a negative way to view your business, and this is why even from the onset of your business, your daily records for your sales must be documented.

What are the benefits of doing this?

1. Keeping daily records of sales provides a clear view of your business's financial performance, including revenue, expenses, and profit margins, ensuring you stay on top of your financial health every time.

2. It helps you identify trends and patterns in sales activity, allowing you to recognise peak periods and popular products. This insight enables you to adjust strategies and capitalise on opportunities.

3. You can make informed decisions based on accurate data. This empowers you to adjust pricing, marketing efforts, and inventory management effectively, leading to better overall business outcomes.

4. It can save you time and effort when it comes to tax filing and audits, promoting financial transparency and accountability within your business.

5. It allows you to analyze the performance of your business over time, helping you to gauge the effectiveness of your sales strategies and make adjustments as needed to drive growth.

Related: Here’s 5 Ways to Measure Business Growth in 2023!

Getting Started: How to Keep Daily Sales Records With Ease

1. Find the Right Daily Sales Record App

There are different methods of tracking sales like manual record-keeping, spreadsheets or using a dedicated sales recording and business management app. By using technology (in this case, the app), you can simplify the process of recording sales daily, and eliminate the need for books that can be damaged, and spreadsheets that may not be so easy to understand.

The business management app Bumpa has a feature dedicated to easier recording of daily sales to help you as a business owner record sales quickly, reduce time spent on recording sales, and improve overall productivity. Recording sales with this app also helps you streamline your order management and fulfilment process as you can track your orders, send them out for shipping and update the status of each order neatly. Finally, you can see the performance of your business in one go, by simply looking at your business analytics. This provides you with insights like best sales channels, best-performing products, new and returning customers, and so much more!

Download the Bumpa app and sign up in less than 5 minutes to get started.

2. Capture Sales Data Accurately

The next important thing is capturing data accurately and in a timely fashion. This is because accurate data is what presents accurate information on your business’s performance, customer trends and revenue streams.

Promptly recording all sales transactions ensures that no crucial information is overlooked or lost, and maintains the integrity of your financial records.

For example, using your Bumpa website to sell automatically records your sales on your Bumpa app, eliminating your need to record a sale manually. But to cater to all the other channels where you sell and make sure you always have accurate data, you can also manually record sales from anywhere else you sell.

3. Organise and Categorise Sales Information

The better categorised your sales information is, the easier it is to see valuable data at a glance. Here are some tips on how to categorise sales data properly:

1. By Products or Services: Group sales data according to different product lines or services offered. This allows you to analyze the performance of each product/service, identify top sellers, and allocate resources strategically.

2. By Sales Channels: Segment sales data based on different sales channels, such as online sales, in-store purchases, or third-party platforms. This can help you optimise marketing efforts and enhance customer engagement.

3. By Customer Segments: Divide sales data into customer segments, such as new customers, repeat customers, or VIP clients. This enables you to personalize marketing campaigns, improve customer retention strategies, and tailor offers to specific target audiences.

By recording daily sales on the Bumpa, some of these categories are automatically available at just a glance!

Related: 10 Ways to Get More Customers & Increase Sales for your Business

4. Track Daily Sales Performance

Monitoring your daily sales performance is also important, as it shows you how your business is performing. You can pay attention to daily sales revenue, underperforming products, slow sales days and more, and this will help you make more informed decisions.

On the Bumpa app, you can see all these on the business analytics dashboard. The dashboard provides you with detailed data on sales, transactions, your products and customers and even the campaigns you send out using the Bumpa app. All you need to do is accurately record everything!

A few more tips on recording daily sales records for your business:

1. Always monitor your cash flow and revenue. You can record your orders to get a more holistic view of incoming revenue and outgoing expenses.

2. Utilise the sales reports and analytics by always examining them to understand your business performance, what your customers are drawn to and which products are selling well.

3. Always review and adjust your strategies. This can help you identify trends and patterns and areas for improvement, and help you quickly respond to market changes and maintain a competitive edge.

Recording Daily Sales for Your Business with Bumpa

The Bumpa app has easy-to-use features that make recording daily sales easy. It doesn’t just end there!

1. Your added products are automatically updated every time you record an order, helping you with inventory management.

2. Recording an order and updating the status of the order sends automated emails to your customers, providing them with real-time updates on their order status and helping you maintain professionalism.

3. You can also generate invoices and receipts for your customers by just tapping a button when you record an order.

4. Your customers’ details are safely secured on your Bumpa app when you record an order, ensuring that you do not lose valuable information about your customers, and can remarket to them via the app as well.

5. By accurately recording your orders on the Bumpa app, you create business analytics and data that give you insights into your business performance.

How to Record an Order on Your Bumpa App

1. Open your app and navigate to Orders in the menu tray at the bottom of your screen.

2. Click on the + button at the top right corner of your screen to record a sale.

3. Fill in the necessary information.

4. Click on the ‘Record Sale’ Button.

And that’s it! You can download the app now to get started. Signing up takes less than 5 minutes!

Conclusion

Recording your sales daily is important for the growth of your business. It’s quick to spot where you may be making mistakes, missing opportunities or improving if you don’t take accurate reports of your sales daily. And thanks to apps like Bumpa, it no longer has to be a tedious process. So take advantage today to start setting your business up for more ease and growth.

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