Cake Palace needs an easy way of keeping written records of business operations.
Cake Palace has not had a reliable written record of how the expenditures and sales happen. Mid way May, we started a means of only recording the expenditures of the day. This was possible because I had introduced Google Sheets to Cake Palace. Thus, at the close of the day, my father and I would take all receipts and enter them into the excel so we can know how much expenditure we made that day. We also had to keep all the receipts associated with the recorded expenditures. (some of the information about recording are in a blog ‘Day 2: Recording Financial Transactions’)
Overtime, I have learnt that the job of recording all expenditure records is difficult for both my father and me. My father is always busy and traveling to make ends meet for Cake Palace to keep operating. In few days for example, he will be heading to South Africa to exchange a faulty mixer for a proper one. Talking about me, I will not be in Cake Palace for long because I will have to go to school for a full academic year without coming back. As such, I have to expand the information of record keeping to my young brothers and all other young people in Cake Palace. Thus, the mission of Yesterday and Today is to make these young people, my two young brothers, Lovemore and Pascal, and our staff member Austin, learn and start using Google Sheets to keep all necessary records of Cake Palace, starting with expenditure records.
Yesterday and Today, between 10:00 pm and 11:00 pm, I have been teaching them how to record expenditure using Google Sheets. They look interested and ready to adapt to the system of recording. Tomorrow, I will teach them some of what I have designed, on Google Sheets, to do with recording daily production of Cake Palace. Overtime, they will contribute to an appropriate means of accurately recording daily production levels. This record shall help us predict our sales, and help us predict the profit margin per day. I am also making sure that my mother, too, learns how to use Google Sheets.
I personally feel that there is a lot of advantages of using Google Sheets for business records. Firstly, Google Sheets is on cloud, thereby, being secure beyond the lifespan of electronic gadgets we use. Furthermore, Google Sheets can be edited by numerous people, as long as the Sheet is shared to intended people. Google Sheets is also easy to use and free. Google sheets also works offline, thereby, giving us an opportunity to record even when our wifi is down.
I am very sure that Google Sheets will help us know real numbers of what we work for in town. With Google Sheets we want to know the specific figures of all our expenditures, our profit margins, our input Surtax, and our monthly expenditures. I hope that through Google Sheets, Cake Palace shall tell where exactly adjustments are needed. I am looking forward to a time when we shall stop using assumptions to run the business. We are in an era where it is possible and relatively easy to know exact numbers and records of business.
Below is the a snip shot of our Daily Expense sheet. This is the model we have been using for 2 months.