Let me count the ways:
1. The big picture. When you enter the dates, you can customize your report for the period you need to see the facts for. How much did I make today? How much did I make last week? Month? Year?
2. Know your Budget for supplies. 10% of my income goes back into my inventory, equipment, back bar and supplies. No more. Remember to OTHER BILLS that you came to work to pay???? If I cannot replace what I have used on this budget, then it must be time to reassess my work. Do I need to raise prices, measure my batches of color more precisely for less waste, or quit giving away the farm and charge each client no less than my list price? (guilty) Any extra I didn't spend goes into my "slush fund" and goes toward my wish list items that I can hopefully catch a sale on. Boy, oh, boy! do I wish someone had helped me do this earlier in my career. It really would have shaped my expenses, education and ultimately helped me earn better money.
3. Income projection. If you put in dates for the future week, you can actually project your income. I try to avoid counting my chicks before the eggs hatch, but the knowledge of what is coming up can help you foster more business from the person already in your chair. If you have extra time between clients, get the customer in your chair to upgrade their service. Try something new, or even spoil them with an extra few minutes of luxury head massage so they leave more fulfilled. Build their loyalty!
Ultimately, don't put off running the reports you need to understand your business better. Keep the management simple.
Who knew a financial report could make you happy?
