In the simple A-B-C’s of business, nothing stands out as more important than the line on the financial statement that indicates the year’s gross profits. And no business in the decade of 2010 and on is going to see a high number there without using credit card processing.
Let’s face it, your business needs customers to survive. If they do not purchase what you provide, then you might as well sell your property and equipment and go work for somebody else. Customers provide the funds to pay the wages and the light bill and the rent or mortgage, as well as the money to purchase more goods to sell.
Gross profits are what your accountant calls the funds that come in, from which he subtracts the expenses listed above, to end up with your net profits, or, as many people see it, the “money that you made.”
