Know Your Business – Profit And Loss Statements
Jul 11th, 2009 | By Dee | Category: Business Basics, Featured Articlesby TDavid of http://www.scriptschool.com/
Do you do a weekly, monthly, and/or quarterly P & L with your web business?
Once upon a time I was a general manager for a large buffet chain. The store I worked for required weekly accounting periods every Wednesday night. I would sit down and figure out how much money the restaurant made manually using this long gray book. This was before doing the Profit and Loss (P & L) the computer way was acceptable to the corporation. I had a bunch of invoices, a #2 pencil, a calculator, this wide, almost daunting, gray book and my brain. Well sometimes it didn’t seem like I had my brain at midnight after spending 14 hours working the restaurant and then sitting down to try and work out the P&L. Anybody who has ever managed a restaurant knows exactly what I’m talking about.
