Why does business owners have to track sales daily?

[Min George]

I know of business people that do accounts everyday before they close the business place. They say they have to track their sales before they leave the business place..

Why is it necessary for a business to track their sales on a daily basis? Can it be done monthly?

 

[neku]

It depends on the business, how many customers they have. Very small online businesses only get very few orders, so they can track the payments they receive once a month.

 

[Kera]

A business with high volume has to track it's sales so as to manage inventory properly. Sales tracking is part of inventory management.

 

[eLdavis]

Tracking sales daily helps you determine if your business is moving forward or not. This way you can make the necessary adjustments.

 

[Trush Jodie]

Tracking sales daily is very important if you have staff in your business organization so as to prevent fraud by staff.

 

[Augusta]

It is to know the volume of sales and how much they have made for the day.

 

[Nomad]

I don't see this very necessary, some days you will have a lot of sales and some days you will have zero sales. But reviewing sales on a weekly basis can be good

 

[Xtynehappy]

They should do that on daily basis so that they can bring into book almost every sale they have on the business.

 

[Augusta]

Tracking daily sales allows owners to assess their progress towards sales goals and identify areas where performance needs improvement

 

[Fidelia]

Meticulous business people track sales daily so that it would not be too much work for them to do at the end of the week.

 

[Suba]

As a business owner or CEO, why do you need to track sales every day because sales transactions need to be closed every day to find out the number of transactions, incoming money, sales receivables, failed sales orders, etc. Business owners will be able to easily analyze obstacles/challenges in the sales department, evaluate sales strategies, provide guidance to the sales department and performance. Of course you can track sales every month but you will miss important evaluations and information.