Recent Articles

Retail Sales

There are no rules when it comes to retail sales. For the small business owner, become the expert for your product and demand the highest price. By educating and providing a quality product you can set your own rules.

Returns, Allowances and Discounts in Accounting

12/24/2014

In the revenue section of every income statement (profit and loss statement) is an adjustment group to sales.  This group reflects the value related to the actual sale of the product or services.  This adjusting group is comprised of three [...]

Point of Sale System – Introduction

12/03/2013

Almost all retail based operations require a Point of Sale (POS) System to properly record the customer and product activity.  So what is a Point of Sale System?  How is it set up?  What information should we get from this system?  How does a [...]

Revenue and Sales – What is the Difference?

06/03/2013

Sales are a component of revenue.  Revenue encompasses several sources of income including sales.  Other sources of revenue include interest, trust monies, royalties, and fees.  In effect, revenue includes all sources of income, realized and [...]

Retail Sales: There Are No Rules

11/29/2012

I credit my education to two men.  They taught me more than the graduate professors in college.  One was a self-made man, the other a hard core business man.  The later was involved in retail and it’s his principles of business that this [...]