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Run, Run, Run Reports

Jasmine Di Duca - Wednesday, February 22, 2017

Running reports is like eating vegetables as kid, no one wants to do it but it provides overwhelming benefits when it’s done. Proper reporting is the key to operating your business efficiently, because proper reporting will reveal any pitfalls that tend to be overlooked. Since numbers don’t lie, let’s take a look at some important reports that you need to be running frequently.


Top 40 Items by Type

This is one of my favorite reports for business owners, because it displays the items and styles that you are selling the most. There’s no better way to understand your customer than to know what they are buying. Top 40 Items by Type will lay it all out for you. Knowing information like this is key to an informed ordering decision. These facts will make sure that what you’re ordering from vendors align with what your customers want. Access this report by going to: Reports > Sales > Top 40 Items by Type.


Aging Inventory

Aging inventory can be the downfall of any business if not handled properly. The Aging Inventory report keeps you up-to-date on any inventory that may be past it’s prime. Like old food, if it’s out of date, get it out of your store! This report provides a comprehensive view of the items that need to be turned. Do your homework. Know what needs to be turned by running this report. Access this report by going to: Reports > Inventory > Inventory Aging.


Customer Balance Summary

If you are running sales on account, you should be running this report. The Customer Balance Summary report is vital to keeping track of who owes you money. When business picks up or life gets busy, it’s easy to forget which customers are carrying a balance. This report makes it easy to see who has a balance, the total balance owed, and the best email for contact. Running this report frequently will also help for accounting purposes. Keeping accurate up-to-date books will always help during tax season. Access this report by going to: Reports > Customers > Customer Balance Summary


Cash Flow Summary

I’m sure this goes without saying, but the Cash Flow Summary is the most important report. It’s the bread and butter of reporting, and the only true way to track the status of your business’ earnings. In an easy to read sheet, the cash flow summary report shows the ins and outs of your businesses transactions. Access this report by going to: Reports > Sales > Cash Flow Summary


Reporting is vital to operating a business successfully. Learning which reports to run and why will help your business run more efficiently.

 

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