Become our exclusive agent in your region yielding in great revenues Learn More
POS reports for retail business daily sales reports

Top retail POS reports that you need to monitor

2022/08/18
By Nadine Hashem

With all the unpredictable incidents that surround our world, business owners have to rely on quantitative data to make their decisions. Decision making in businesses including retail should be based on accurate data that gives details about sales over time, sales per outlet and department in addition to profit related data.

 

The past 2 years were only a proof of how business making is ruled by uncertainty that changes the way you run and manage your retail business.

 

Retailers need to kick off their year with a detailed look at their numbers to evaluate what works best for them and what doesn’t. they need to check their reports generated from the POS software from different aspects.

 

 

What are the main retail reports that you should check?

 

 

Comparative sales analysis by price

 

As previously mentioned, doing business is pretty much governed by many uncertainties. This report is especially useful when prices are fluctuating and therefore costs. This report is especially useful when you need to monitor the wellbeing of your business with fluctuating prices. You simply check your performance by comparing two periods of time that are encountering price increase.

 

If the report shows you that you are losing money, you need to reconsider your own pricing strategy.

 

 

POS report

 

 

Daily sales summary report

 

 

This report is an analytical report grouped by week to analyze day to day sales versus costs and profits.

 

This report gives you direct insights about your daily  sales compared to their costs and the generated profits.

 

With this report, you can see if you need to increase your sales to increase the profits or reduce your costs. It gives motivation to employees to pursue their efforts and helps you to account them for any mistakes.

 

 

This report also gives you indications about the efficiency of your promotions or the need to promote certain products.

 

pos reports

 

 

The P & L Report

 

 

The profit and loss report along with the cash-flow report, is one of the most important reports that any business owner would like to monitor on a monthly basis, to make sure that their business is profitable and they're on track with their targets.

 

 

This report reflects food and beverage cost as a percentage of their respective sales showing you how profitable they are and whether you should discontinue certain products or promote their sales.

 

 

It provides business owners and investors with records of the retail financial conditions, soundness and the potential for a growth.

 

 

POS report

 

Sales over time

 

This report is a straightforward report that shows you your performance within a year.

 

Depending on this report, you can either replicate your success and address any weaknesses to alter your decisions.

 

Employees play an important part in sales so be aware of that when evaluating the performance of each item.

 

Certain items are more difficult to sell so they require a proficient sales person to convince customers.

 

If you witness strong sales during summer, try to drag your strategy to other seasons to increase sales year round.

 

Sales analysis Report

 

 

The sales analysis report is an analytical trend report analyzing each item for 3 periods. Current period, last month for the same period and last year for the same period highlighting on the trend of each item by category.

 

 

It shows sales for each item in each category so you can evaluate your top selling items and the items that need a boost or a total drop.

 

If the report shows that an item has decreased in sales, you need to check the reasons for this decrease.

 

 

POS reports

 

 

Top employee

 

 

By running this report, you are able to identify your top performers and the ones that need training or motivation or sadly a lay off.

 

Knowing this information enables you to reward employees who deserve a reward and holds other accountable. This report reveals a lot about how healthy work environment is and how attractive you are as a workplace.

 

It helps you retain good employees by identifying opportunities for their growth.

 

 

You need to check these reports regularly for their importance and ability to improve your decision making process.

Post Tags

Previous Post

A waiter taking the order from the customer on a tablet

5 restaurant technology trends to shape our world

2022/08/11
Restaurant sector hasn’t been the fastest in adopting technology trends but in the recent years and especially after the spreading of...

Next Post

menu design

The key to a winning menu: profitability and popularity

2022/08/25
Looking for ways to increase your profits and profitability is something normal especially after what the restaurant sector has...

Latest Posts

food wasted at restaurants: a waiter holding a pile of leftover plates

POS software to help you minimize food waste

2024/11/21
In the food industry, minimizing food waste is not just a matter of saving money—it's also a critical step towards sustainability and...
technology and retail and hospitality

Best practices for hospitality and retail to benefit from POS software.

2024/11/14
The hospitality and retail world is evolving rapidly, especially with all the technology involved; hence, efficiency and precision are...
restaurants and dining

Top features to look for in a POS software for your restaurant success

2024/11/07
There are critical aspects when selecting a Point of Sale (POS) system. In the competitive landscape of the restaurant industry, the...