Great things in a business are never done by one person only. An entire group or team of people is responsible for the great things achieved by any business. Sometimes, a little extra is needed to make a business successful—that extra push towards the right direction!
That extra push towards greater success, productivity and efficiency is the result of good POS software. However choosing the right POS business software isn’t the real challenge! Knowing what the data is indicating, is!
Following are some important reports that should be run when operating any business:
Sales reports are important but it’s the actual payments that find out how much your business is making or losing. Running POS payment reports will help you to track inefficiencies affecting company’s bottom line.
Using this information helps prevent issues that can occur with payment processing as well as employee theft and errors.
Here are some other points that are tracked by POS payment reports:
- Taxes paid
- Voided sales
- Cash events
- Tips and gratuities
- Employee payouts
- Payments by different payment methods
No doubt, inventory management is the most important task for any small business. Yet it is also really difficult especially if conducted manually on paper. Don’t tack on extra hours to your workweek by running this report on your business POS system!
Inventory reorder reports designed by quality POS software will keep track of inventory quantities and updates in real-time, right as each item is sold.
Businesses such as retail or grocery stores can also enter minimum quantity in the system that alerts the manager when an item reaches the established minimum order.
Sales are the bread and butter of any business, tracking sales conducted even more important. Your POS software must be able to design and develop detailed sales reports! How do these reports help?
POS sales reports track and highlight items that make the most profits i.e. highest selling items. This report will also help you figure out which times of the day, week, or year are the busiest for your business. You can remove unpopular items from your shelves as well, judging from the sales report.
Now that you know how to track your business’s progress, let’s spend some time choosing the right business POS system and software today! Get in touch with Bridge POS today!