Like any business, it is absolutely vital to track and maintain your sales records. You should have a clear understanding of your income and expenditures.
There are many ways to keep track of your sales. Using orthodox methods such as keeping a paper journal is time consuming. Simple spreadsheet programs as well as basic accounting software are available at minimum or no cost. However, it is advisable to install advanced accounting software such as QuickBooks, Quicken, or Microsoft Money to keep track of your accounting. Such advanced programs save you time by sorting your register transactions by date, transaction amount, document number (e.g. check number), order entered, or cleared status. The tracking feature included in such software tracks, by user, changes made to each transaction. Daily, weekly, monthly as well as yearly sales reports can be generated with a few clicks. These reports help you analyze the sales of each and every product. Logs and reports can be generated to keep track of all your customers.
NOTE: Affiliate marketing solves many of the aforementioned tracking problems for you automatically. When you become an affiliate and resell other company’s products for a profit, the company you are affiliated with keeps track of your traffic and sales automatically and presents all this information to you in easy to read charts and graphs. Click here to learn about a turn-key affiliate marketing system that you can use to earn multiple streams of income on the Internet.