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How to reduce costs?

Expense Report

How to reduce costs? To reduce costs, you must first analyze them, for this, open a special report in the program: "Profit" . The report calculates profit , and expenses are what directly affects the amount of profit.

The data will appear immediately.

At the top of the generated sheet will be an expense report. Expenses are payments. Payments have three important features.

1. What exactly was paid for?
2. When was the payment made?
3. How much did they pay?

It is all these features that allow you to analyze the expense report.

Cost analysis

The title of this report is ' Financial Items '. Financial items are names for different types of expenses. To analyze costs, you must first decompose costs by type. This is what our program does. On the left side of the spending analytics report, you'll see exactly what your organization's funds were spent on.

The names of the months are written at the top of the report. And if the analyzed period is very long, then the years are also indicated. Due to this, the user of professional software will understand not only what the payments were made for, but also when exactly they were made.

And finally, the third factor is the amount of payments. These values are calculated at the intersection of each month and expense type. That is why this kind of data presentation is called ' cross-report '. Due to such a universal view, users will be able to both see the total turnover for each type of expense, and track the dynamics of changes in expenses over time.

Types of expenses

Next, you need to pay attention to the types of expenses. Costs are ' fixed ' and ' variable '.

' Fixed expenses ' are those that you have to spend every month. These include ' rent ' and ' wages '.

And ' variable expenses ' are expenses that are in one month, but may not be in another month. These are optional payments.

Reducing fixed costs without business impact is not easy. Therefore, you need to start with the optimization of variable costs. For example, if in one month you spent a lot of money on advertising , in another month you can cut these costs or cancel them altogether. This will free up extra money for you. If you do not spend them on other business purposes, then they will be included in your earned income.

What is the profit?

See how the program understands how much profit was made as a result of the work of your organization.

See below for other helpful topics:

• How to find out profit?
• Types of expenses
• To the begining

• Download the program with interactive training