Sales reports, inventory reports and financial reports are the three main groups of reports that any store or business enterprise must have to track sales performance and manage inventory and export. So what is a sales report? How to effectively report warehouse conditions? How do you know how much profit the store has made? Here are 6 types of inventory reports, sales reports and financial reports that you need to have if you want to manage your Shopify store and control business profits efficiently.
Inventory reports
Inventory reports will help you manage your inventory and quickly know exactly how many products are left, control loss of goods and make accurate and timely import decisions. To do that, you need the following reports:
Inventory reports
Inventory reports do not only simply reckon the quantity of inventory but also calculate the inventory value of the store or chain of stores. These information in the inventory report will help you understand how much money you have in stock so you can forecast your revenue and make financial plans.
From the inventory report, you can come up with specific strategies and measures, for example, when the goods are damaged too much, you need to pay attention to the stock arrangement and storage; or when you see a lot of returns, you need to find out the cause of this problem to fix.
Best-selling reports
The best-selling reports will tell you exactly which products are best-seller, how many are sold, how much revenue those items bring to you,...
With the best-selling reports, you can list the items that have sold the most in a given period of time, for example by month, by week,...
Sales reports
Sales report is also an indispensable type of report to track the effectiveness of business. Here are some must-have sales reports
Sales-overview reports
The sales report will give you an overview of the store's business. Here you can see your total sales, sales, trading value, or returns for the day, week, month,... of your preferred period of time.
Sales reports will help you track and compare the sales performance of this month with the previous month or the peak period of this year with last year, and based on that to predict the "golden" time to drive sales as well as have a reasonable import plan and a long-term business strategy.
Sales-detailed reports
In addition to sales-overview reports, sellers also want to see specifically where their sales come from. Detailed reports such as sales reports by source, by branch, by employee, by customer will help you evaluate the sales performance of each specific audience.
Financial reports
Financial reports are an important group of reports that directly affect business cash flow. Therefore, the reports below are the reports that you need to keep track of to avoid errors and evaluate your store's profit and loss.
Debt reports
Most Shopify shops doing business today have to import goods from suppliers for sale, except for a few establishments that can produce goods by themselves. Therefore, managing debt is also an important profession for sales managers. In addition, many stores also have to manage debt with customers. So, to quickly calculate the debt in the period with each supplier, each customer without making mistakes and disputes, debt reports are to help you handle this problem.
Profit and loss reports
The profit and loss reporting feature helps you see the revenue and profit of the period, track the percentage change of the current period's sales, profits, and expenses compared to the previous period.
If you cannot manage all the above reports, don't worry, Super Reports will help you track and analyze data quickly, synthesize it into detailed reports and send it to your email after only a few clicks.
