How to Calculate Daily and Monthly Sales
Learn how to total daily and monthly sales and use simple sales records to understand how your business is performing.
Your daily sales total is the value of the sales recorded for that day. Your monthly sales total combines the relevant sales across the month.
The calculation itself is simple. The challenge is making sure the underlying transactions have been recorded consistently.
Calculate daily sales
Add the value of the sales recorded during the day. For example, if you record sales of ₦20,000, ₦35,000, ₦15,000 and ₦30,000, the day's recorded sales total is ₦100,000.
Calculate monthly sales
Add the daily sales totals for the period, or total all sales transactions recorded during the month.
Be consistent about what you are measuring
Sales made and cash received are not always identical. If customers can pay later, decide whether the report is showing sales value, payments received or both, and label the numbers clearly.
Compare periods
Once your records are consistent, compare this week with last week or this month with the previous month. The direction of change can be more useful than looking at one total in isolation.
Sales are not the same as profit
A large sales total does not tell you how much the business actually kept. Expenses must also be considered when you want to understand profit.
Keep your sales, customers and expenses together instead of piecing your business records together later.
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