Did I make a profit on that?

In this week’s tip, I will show you how to find out if you made a profit.

Simply put, you make a profit if the money you take in is more than the money you pay out.

So the formula looks like this:

Income – Expenses = Profit (or Loss – in the event that you spent more than you took in)

Here is my Excel Worksheet for Coffee Island a chain of Coffee Shops. In the spreadsheet I am logging the sales and expenses for each week.

To create the formula

Place the cursor in the cell where you want the answer to appear

Type an = sign

Click on the first cell ( in this case, the cell with the income for Week 1- B15)

Type a – (minus) sign (use the hyphen)

Then click on the next cell  ( in this case the cell with the expenses for Week 1 – B24)

Press Enter

So here I have a profit in Week 1

I can now go ahead and do the same for each column to see if I made a profit in every week.

For more tips you can visit our webite www.theittrainingsurgery.com  and while you are there, why not download our ebook too.

To learn how to use Microsoft Excel 2010 more effectively you can take one of our online Microsoft Excel 2010 IT Training Courses.

• Create your first spreadsheet
• Sort Filter and Pivot your data

To purchase a course direct from the site visit our site

To purchase several licenses, give us a call on 020 8203 1774 or email enquiries@theittrainingsurgery.com  

In next week’s blog we will start to see how Microsoft Word can support your business process.

Till next time..