Start with these questions
- What is revenue?
- Is revenue the same as profit?
- How do I track daily sales?
Understanding the topic
Revenue is the money earned from selling goods or services before deducting costs.
Why it matters to your business
Tracking revenue reveals sales patterns but not necessarily profit. Connect this idea to your own records and decisions, then review what changes when you apply it.
Practical example for a Ghanaian business
A Tamale retailer sells 20 items for GHS 50 each, giving GHS 1,000 in sales revenue before costs and any applicable taxes. If some customers bought on credit, cash collections will differ. The owner records revenue and outstanding balances separately.
Illustrative example. This does not describe a BrightEdge customer or promise a financial result.
Common mistakes
- Calling all revenue 'earnings' available to spend.
- Making a decision without checking the records and circumstances behind it.
Recommended actions
- Total your sales for the last seven days.
- Write down the records or information you need and check any gaps.
- Choose who will complete the action, set a date and review the result.
Educational video
The video section is ready for the approved companion video. Read the explanation and complete the action above while video production is in progress.
General business education. Confirm current tax, legal and investment requirements before applying them to your circumstances.