As a small business owner, record keeping is mandatory to keep track of business expenses, profits, taxes and even to price adjustments. When you are first starting out, you may have set your prices to attract customers, and a few months into ownership, you realize you’re losing money. Setting the right prices is a tricky and sometimes difficult thing. If you’re prices are too high, you risk turning off customers. Of course, that situation is easily remedied by dropping prices to more reasonable levels.
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