Reporting is an essential tool for businesses because it helps the owners to analyze financial growth and identify the areas where improvement is required for the growth of the business. POS reporting provides vital insight about the sales, inventory, purchases, and financial status to the business owners. These details include data analysis for inventory management, sales, and other essential aspects of the business so that the retailers can take necessary steps to achieve the desired targets.
In this blog, we will discuss the significance of reporting and analytics using point of sales systems and how CISePOS helps retailers by providing them different kinds of reports to facilitate them in easy management of their businesses.
Sales Reports Types:
There are many types of reports which can be generated using the POS system depending on the business’s needs. Retailers can easily export these reports in different formats like CSV, EXCEL, and PDF. CISePOS cloud-based POS software provides easy access to the reports and helps owners to identify factors that need urgent attention. Let us discuss different types of reports available in the CISePOS cloud-based POS system for the customer.
The reporting and analytics feature is very important for the businesses because it can help owners to better understand the business’s actual position. Sales report highlights vital information to the retailers like how many sales have been executed, sales value and much more.
CISePOS offers many types of sales reports to the retailers so they can have quick access to important statistics regarding their business. Some important reports of the CISePOS system are as follows:
– Item Wise Sales Report
This report provides valuable insight to the retailers related to the items which are sold. Various sub-options are also available to generate detailed reports related to items.
– Item Wise Sales Return Report
This report provides all the related information regarding the items which are returned for any reason.
– All Branches Sales Report
This report is significant for the retailers who are managing multiple stores. Retailers can generate sales information for the multiple stores separately.
– Hourly Sales Report
This report helps the retailers to observe the sales volumes at different hours of the day.
– CRM Report
CRM reports help the retailers by providing important data that can help in improving their relationship with customers. It also helps the business owner in creating effective sales and marketing strategies based on customer data.
Accounting and financial reporting are very important for all types of businesses because using the insight generated from reports helps the owners to forecast their businesses’ financial conditions and help them take immediate actions in case of any anomaly found in the data.
The POS reporting feature provides real-time analysis to the owners related to financial activities, which helps them monitor and control the business operations. Some account reports which CISePOS is offering in the cloud-based POS system are as follows:
– Account ledger Report
This report provides information about the transactions that are credited and debited in different account heads of the business. Users can easily generate account ledger reports for any date range. The report includes details like date, voucher no, narration, debit, balance, credit, reference, and cheque no.
– Trial balance report
It provides details about the closing balance for the day or week selected through the date range, along with the selection of account types, balance type, and amount type. The customization feature in CISePOS reports provides great flexibility to the retailers so that they can generate reports according to their requirements.
– Balance sheet report
It provides important insight to the owners regarding the businesses’ current financial standing at the end of a quarter or a day. A separate balance sheet can also be generated if retailers have multiple branches.
– Cheque report
It provides valuable information regarding the cheques, including amount, cheque number, cheque date, voucher no, voucher type, debit and credits heads.
Inventory reports are the central aspect of a retail business. It helps the retailers to determine the exact balance of the stock with all the related information. CISePOS facilitates the retailers through different kinds of inventory reports so that they can have real-time updates regarding stock because manually checking the inventory is a time-consuming process, and chances of errors are also high in manual stock checking and tracking.
– Physical stock report
This report provides important information to the retailers about the physical stocks in terms of item, unit, quantity, short/excess, rate, and amount.
– Stock in hand report
It is a very important report that identifies crucial information about the stock present in the physical store. Using this information, advance planning about the stock purchases can be done by the business owners.
– Expiry Report
This report helps in identifying the items that are close to expiring so that those inventory items can be reshuffled or discarded according to the specific requirement.
Other inventory reports which are included in CISePOS are the stock ledger report, item trial balance report, item trial balance valuation report, and item trial balance summary report.
This report provides important statistics related to the purchases executed for stocking inventory and other items for business purposes. Using these reports, the retailers can track payment transactions completed for the selected date. The reports mainly focus on the product’s costing (the price of which item is purchased) and quantity of items. These reports are easily accessible in the CISePOS cloud POS system under the report’s sections.
Some purchase reports which CISePOS is offering in the cloud-based POS system are as follows:
– Purchase report
This report shares important statistics with the retailers related to purchases. The user has the option to generate data based on the custom date range.
– Item wise purchase report
In this report, the retailer can see important purchase data based on the items.
– Supplier wise purchases report
It provides vital purchase information based on suppliers so that retailers can quickly view what items have been purchased from a specific supplier.
Other purchase reports which are included in the CISePOS are the purchase summary report and purchase return summary report