Finding Profit in Your Expenses
Episode 263 – The Local Small Business Coach Podcast
Diving Into Your Profit & Loss Expenses
In the next part of our Know Your Business Numbers Series, we will take a look at the next part of the profit and loss statement, your expenses.
Your expenses are all the other costs of running your business other than your cost of goods sold. Like your cost of goods sold, your expense will be a percent of sales on your profit & loss. Your expenses will be broken down into subcategories that will allow you to track where your profits are going. You should have a budget in place and compare your actual expenses on the p/l vs your budget. Let’s take a deeper dive into understanding your expenses.
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