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What are the best accounting methods for a beauty salon in Excel?

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What are the best accounting methods for a beauty salon in Excel

Surely it has happened to you that when everything is scheduled and executed, and just as you had thought, you have neglected something very important for your Beauty Salon, what payment methods will I offer them? How will I handle the entry and exit of money?

The commercial industry offers you a great variety of accounting methods that will mostly provide you with many benefits such as Saving time, money, and easy access. But which one suits my tastes and above all my needs?

Stop worrying! We have the solution for you and your clients, it is a tool that has helped small and large companies.

What are the best accounting methods for a beauty salon in Excel

Excel is a program that is part of an office package created by Microsoft, with a high potential capable of managing the record of your financial transactions. With it, you can easily create spreadsheets that are very helpful. You do not need to have a great knowledge of the program or have a lot of money to obtain it.

Accounting methods within Excel

Microsoft Excel has a wide range of templates that will allow you to carry out such simple operations. As from the total sum for a service. Even keeping track of what goes in and out of your Beauty Salon. These pre-set templates save you time, money, and effort.

Control of your accounting records

This will allow you to start keeping the accounting of your beauty salon, through a spreadsheet. In which you can manage to keep track of the purchase records to your suppliers of shampoos, conditioners, dyes, keratin, dryers.

Likewise, take control of the service that the client expects, such as cuts, drying, dyeing, hairstyles, highlights. As well as you can also keep track of service expenses in the premises. Such as water, electricity, telephone, toilet, payment of taxes, debts to pay or collect among others that you deserve.

What do Excel accounting templates offer my beauty salon?

Better quality in the management of your financial activity. Therefore, before starting to keep your accounting, you should already know what your beauty salon perceives and the ideas that increase the number of clients, that is, you must know how much currency enters and leaves your room. Knowing this, go to open the Microsoft Excel window.

Once there, select the File tab and locate the word New in the menu. Then select from the options window, simple invoice, what does this template allow me?

Simple invoice template

This template will allow you to keep track of the service provided to the client, making all the necessary calculations. As well as the tax or deduction if applicable.

You just have to fill it out, with information such as the Name of the beauty salon, the name of the client, the telephone number of the client, address. Also invoice number, name of whom the invoice is addressed to, service, price, discount, totality.

Sales invoice tracking template

This template will allow you to keep track of the control of many clients and their invoices in a single file. And, it also provides a tracker to locate any invoice.

Inventory list template with highlighting

In the like in a book accounting, this template will allow you to keep track of services provided to the client. From what you have, enter and leave your salon, and whether or not you are getting very good results.

What are the best accounting methods for a beauty salon in Excel

On the other hand, Excel allows you to create your own inventory template. You can create it by using the tools it provides such as the Developer or programmer tab, you only have to activate it if you don’t have it in sight. Macro, allows assigning the performance of several operations at the same time.

Journal book template

It will allow you to know the entry, exit, and expenses for each service provided chronologically. Its format contains data such as a Description of the service, date, debit, and credit accounts.

Ledger template

This template will allow you to see each and every one of the billings made in the Beauty Salon. To find out how much money is available.

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Excel

What is gross, net and operating profit margin and how to calculate it in Excel

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What is gross, net and operating profit margin and how to calculate it in Excel

It is natural for every company or business to have a daily management system for the profits obtained from the sales of a product. But it is very true that there are terms and data that can help facilitate this work, for this we will talk about the profit margin.

What is the profit margin?

The profit margin is the inequality between the amount of sale of an item or service, fixed and variable expenses. This in-so is related to the processes of commercialization and maintenance of a company or company.

Why is profit margin important?

For a company to function well internally, it is important to take into account everything that the profit margin implies. Knowing the difference in the price of an item and its elements involved will allow having data that will help to visualize if the applied strategy is profitable.

Taking the profit margin into account will allow a company, whether a sole proprietorship or corporate, to understand whether the distributors are the right ones to boost resources. By having a profit margin, you will be able to answer questions that arise as a project progresses, and they are these:

  1. Does the sale that is made satisfy the needs of those who make up a company or team?
  2. Is there a way to minimize the expenses that are made in the production, without affecting the quality of the product?
  3. Is the marketing strategy that is implemented to generate more profits functional and practical?

What is gross, net, and operating margin?

Next, we will show you a brief explanation in the form of an outline of what a net, gross, and operating profit margin is.

What is gross, net and operating profit margin and how to calculate it in Excel

The gross profit margin: It refers to what is earned after deducting the final price of the direct and indirect costs in the production of an item.

The net margin: It is the one that is acquired once the fixed expenses such as water, electricity, services among others that are carried out around the business are subtracted.

Operating profit margin: This is a financial percentage that measures the performance of a company, through the functions acquired before the payment of taxes and interests.

Calculate Profit Margin in Excel How?

  • Open the Excel program and create a new spreadsheet where you will use the columns ‘Revenue’, ‘Cost of Production’, ‘Profit’, and ‘Profit Margin’.
  • In the column labeled ‘Income’, you will enter the price of one of the items on offer.
  • In the column ‘Cost of production,’ you will add the total cost that involves labor plus services.
  • Identify the gross profit, this will be updated in the column ‘Profit’. Here you will enter a calculation formula that subtracts the cost of production data from the data in the Income column, the formula is = B2-C2.
  • To calculate the profit margin or percentage, you must change the formula mentioned above and it would be D2 / B2 * 100.
  • To keep a more accurate control, make a column to record the data of the number of items you sell per day. To do this, use the following formula = B2 * (plus the price of the item), where B2 corresponds to the number of products sold, and the amount you place after is the amount that the product is canceled.
  • Copy the formulation down, in order to have the totals for each item, at the same time select the addition formula and the boxes that correspond to the same data.
What is gross, net and operating profit margin and how to calculate it in Excel
  • Next, in another Excel sheet within the same file that you already have, you will create columns that have the following data ‘Fixed Expenses’, ‘Variable Expenses’, ‘Total Expenses’, and another called ‘Profit’.
  • For this new sheet to be updated exactly like the previous one, you just have to press the equal sign (=) next to the box where the total profit for the month is and press ‘Enter’.
  • To calculate the net profit, you just have to apply the formula that we have explained to you in previous steps.
  • Finally, you will write the formula that responds to the percentage margin of net profit.

We have successfully concluded this article, we hope it will be very useful and although it is a bit tedious, it is important for your company.

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How to use the CUBE SET (CUBESET) function in Excel – very easy

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How to use the CUBE SET (CUBESET) function in Excel - very easy

Currently, Microsoft is one of the innovative technology companies and has the best office suite on the market. Not everyone knows how to get the most out of these programs, which is why we will provide you with a guide.

Specifically how to use the CUBE SET function. So we invite you to pay careful attention to this guide that can help.

What is the CUBE SET function?

A function is one that allows us, through a pre-defined formula, to obtain the result of something important. This is very advantageous since it will save you time and effort because the process will be done automatically. There are several types of functions, such as the BASE function that is part of the way we create databases in Excel.

Knowing this, we can say that the CUBE SET function allows the user to achieve certain results quickly and easily. Which would otherwise be difficult to obtain manually.

It is a dynamic function, which returns to the user a set of ordered elements by sending a set expression to the cube. This is on the server to later receive the desired result.

Likewise, information cubes are understood data matrices, where the data is organized in a multidimensional way. They are stored in a single database.

The functions of the cube owe their name to the method used by the user to analyze databases of business. There are a total of seven functions that will allow you to search for data such as members, sets, properties, or values, then they are mixed

These data are located in an OLAP cube that stands for Online Analytical Processing, where the analysis was proposed. Quick. Through the arrangement of data in vectors, these vectors are called cubes. Cubes allow instant analysis of large amounts of data, it also manages to use other available formulas that Excel has.

How to use the CUBE SET function?

Go to the top of the Excel window, locate the Formulas tab, expand it, select the More functions option. After other options open, select Cube and finally select CUBE SET.

There a window called Function Arguments will open, you must fill in each box with the elements that will make up Syntax. All this to have more control of the blade. Within Excel, we have a number of control called ActiveX that is ideal for different situations and configurable.

Syntax arguments and example

CUBE SET (connection; joint expression; [title]; [sort order]. [Sort by]. Example: CUBE SET (“Grades”, [class]. [All classes]. “Students”, “All classes.” Some characteristics:

  • Connection: As a mandatory element. It is a string of characters of the name of the union to the cube.
  • Joint expression: Qualified as a required element, in a text sequence order of the expression of the set. Their results come together in sequence, getting to treat of a cell.
  • Title: Considered as an optional element, it is an ordered sequence of characters that are always displayed in the cell. Instead of the title appearing, if any of the cubes were to be defined.
  • Sort order: Another optional item. It consists of the type of order that may exist within the excel cell.
  • Sort by: Defined as an optional item. It consists of a sequence of value text characters, by elements.
  • The CUBE SET function when it shows the message “# OBTAINING_DATA …” indicates that it is being evaluated, it is before saving the data.
  • Now, if CUBE SET returns a # N / A error value, it means that the set expression is wrong. It also has at least one element with a dimension that differs from the others.
  • If the joint expression has more than 255 letters, at its maximum number, the CUBESET function will fail.
  • To use more than 255 letters . You must transcribe a set of letters, in a cell, the limit is 32767.

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