For access to our resources you must login below to access your Toolbox. If you are yet to obtain login details, you must first register with NDI, which you can also do below.
For access to our resources you must login to your account below. If you are yet to obtain login details, you must first register with NDI.
If you have already obtained login details, then please login with your email and password. If you have not yet obtained login details, then please register below.
When calculating the costs in your business one of the first things to consider is the cost of producing your product or service.
These costs need to be calculated on a monthly basis, or depending on the volume of your sales and how often you will need to buy the materials in order to help you deliver your product/service to your customer.
There are methods and techniques for this:
Essentially you need to calculate what your full costs are in order to ensure the amount of revenue that you have coming into the business is able to cover this cost as well as having some money left over to pay yourself, or your investors or invest back into the business in order to improve and grow your business.
Its crucial for you to understand what these costs are, how they are calculated and how they can change. For example they can increase or decrease according to the economic situation in the city and country you are selling your product/service and the city/country you sourcing your materials from.
Here’s The 5 Biggest Mistakes Small Business Owners Make With their Accounting Records.
Once the above costs have been added up they can be taken away from the Total Sales/Total Revenue figure for the month and you can see how much net profit you have left over.