How to do bookkeeping for spa business?

Bookkeeping for a spa business requires meticulous tracking of both revenues and expenses to ensure profitability. Start by categorizing different revenue streams, such as treatments, product sales, and membership packages. Record all daily sales, including tips, if applicable. Track inventory for products to monitor costs and reorder efficiently. Regularly reconcile bank statements to ensure all transactions are accounted for. Categorize and record all expenses, from rent and utilities to staff salaries and marketing costs. Using software like Xero can automate many of these tasks. Regularly review financial reports to assess performance and make informed business decisions. Ensure all records are kept for tax purposes.

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