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A service type of business provides intangible products(products with no physical form). Service type firms offer professional skills, expertise, advice, and other similar products. Most of the have seperate spreadsheets for every business activity. For example finance and accounting, marketing and service management, HR department. Best online data backup services
Example of service businesses are: salons, repair shops, schools, banks, accounting firms, and law firms. Excel biz solutions
This type of business buys products at wholesale price and sells the same at retails price. They are known as "buy and sell" businesses. They make profit by selling the products at prices higher than their purchase costs. To be able to do that, they have to track what they are buying and what are they selling. Most of small and medium enterprises are still using Excel for that purpose.
A merchandising business sells a product without changing its form. Examples are: grocery stores, convenience stores, distributors, and other resellers.
Unlike a merchandising business, a manufacturing business buys products with the intention of using them as materials in making a new product. Thus, there is a transformation of the product purchased. They usually have seperate spreadsheets for fixed assets, material purchases, inventory, accounts receivable and cash, etc. As more and more data comes, chances of entering a chaos zone are rising.
A manufacturing business combines raw materials, labor, and factory overhead in its production process. The manufactured goods will then be sold to customers.