Analytics--> Operations
Keep a track of the "Margin % from Sales" . If this gets abnormally low, that would mean that some product that we are selling is having a very low or negative margin. Open each Sales receipt that was created today and check the margin on each receipt/ receipt item.
Inventory--> Inventory Report --> Markup Report
This report can be used to identify the products that are being sold at very low margins and the products that are being sold at very high margins. Review the products here and if required, modify the prices. Any incorrect purchase price or selling price will reflect here as high or low margin. This report shows the list only for items that are sold in the last 3 months.
Sales Report --> Daily Sales Trend
The analytics report is more indicative in nature and can be incorrect as it does not indicate any edits to the sales or purchase bills. The Daily Sales Trend are the actual figures that we have received yesterday and by the payment modes. You may need to cross check all credit sales and make sure that they are valid. Check for any major variation here.
Sales Report --> Gross Margin Report
The gross margin report will show the total amount of sales and the corresponding actual purchases made that month. Keep a tab on this to ensure that your purchases are accurate and you are not over purchasing.
Sales Report --> Sales Margin Report
The sales margin report will show how much margin we are getting on the sales that we have made. For each product/item that we sold, how much margin did we make on that. This is gross margin. This will ensure that you are selling the right products and margins are healthy.
You have an expand option here to expand and see the margins on each sales receipt on that day.
Sales Report --> Unsettled Sales
Check this report to see which are the long outstanding sales receipts. This report will show all the customer sales that were made on credit and are due. If there are credit sales which are still outstanding after 30 days, you may have to check why the payment was not received.
Finance -- > Account Reports -- > Payables/Receivables
Use the finance reports only if you are doing counter reconciliations. The accounting reports will not have the sales data if you have not reconciled the counters
Check this report to see overall, payable and receivables. Check for any large values here.
Finance -- > Account Reports -- > Profit & Loss Reports
Check this report to see the overall business performance. This shows the net profit including payroll and expenses. The amounts here are before tax values.