Sales statistics and analytics paint a clear picture of how many products your business is selling. The POS+ tracks your sales and provides reports that help your business grow.
What Kinds of Sales Reports Can You Generate?
The POS+ allows you to track many aspects of your business’s sales. We’re going to focus on three types of sales reports you can generate with our POS: store reports, shift reports and customized sales reports.
One of the most important reports to pay attention to is the store report. This report is an overview of your business’s sales for the current day or a range of dates you identify. Across the top in easy-to-read tiles, the report hits some important sales highlights, including:
Number of baskets
Number of items
Average number of items
Average sale amount
The store report also displays several important data sets in more detail, including:
The payments table lets you know what payment methods your customers are using at checkout. For each payment type, which includes cash, credit/debit, check, EBT and more, you can see how many baskets were paid for with that payment type, both in terms of a number and a percentage. You’ll also see the total dollar amount and percentage associated with each payment type.
Payouts, drops, cash backs and collections
This section displays information regarding vendor payouts, cash drops and taxable sales. Think of this section as a digital record of the modern version of balancing a cash drawer.
The “other information” section includes several stats you may be interested in. It lets you know how many refunds, if any, have been issued, how much money from in-store promos and discounts has been given to your customers, whether there were any “no sales,” canceled transactions, or voided items, and how many times employees overrode the price on an item.
Net product sales
The net product sales section is essentially a more high level version of what you’ll see on a sales report by department. It lists the number of products sold for each department on the list and what those sales equate to in terms of dollar amounts.
If you want to see similar information as displayed on the store report but hone in on a specific shift rather than a whole day, week, month or other extended period, you can do that with the shift report. This report gives a detailed account of everything that occurred during a given shift. This report can provide insight into individual employees’ performance and how sales fluctuate by time of day.
In user settings, you can allow employees to view their own shift reports, even if they can’t view the overall store report.
Customized Sales Reports
If you’re looking to gain insight specifically into how certain products are selling over time, you’ll want to look at your sales reports, which allow you to track your sales in a more targeted way. You can view sales by:
Item: If you’re curious about how a specific item is selling, you can view sales by item. Select the SKU you want to focus on and limit your selection by a certain date range. Then, you can see how this item has sold over that period. Note the number of baskets that included that item, the total number of that item sold, the average number of that item sold in each basket, the total dollar amount of sales for that item and more.
Department: You can do the same thing for sales departments as opposed to individual products. For example, you might want to see how your beverage sales are doing. When you click on this department and select a date range, you can see the number of baskets that included items from that department, the number of items sold from that department, the total dollar amount of sales revenue from that department and more.
Basket: This table divides your sales within the time period you select by basket. It breaks down each sales transaction to show which departments were represented in that sale, how many items belonged to each of those departments, the dollar amounts for each department in the transaction, any discounts or promos that were applied and more. Viewing sales by basket can give you insight into which products are often sold together.
Now let’s talk about how to create reports. If you didn’t have a modern POS system with software that could automatically generate daily sales reports, then gaining insight into your business’s sales would be difficult. Thankfully, sales reports on the NRS POS system are right at your fingertips.
You can access reports on the POS system itself, through the My NRS Store web portal, and through the mobile app. Since the POS+ is cloud-based, all your information is up to date on the web portal and app as well so you can manage your store remotely. By clicking on the store statistics tile, you can quickly gain access to your store’s overview report. You can also dive into more specific sales reports that break out sales by item, department and basket and into shift reports by clicking the “data” button.
These reports are generated for you, but you must select the appropriate date range so you limit the scope of your data. You can look at sales data from a single day, week, month, quarter, year or any custom range you select. Once you’ve selected your date range, refresh the page to show the correct data.
While some store owners and managers prefer to keep all data stored in the cloud, you can download and print reports as needed for your records. This capability makes it easy to share certain data sets with employees without granting digital access to everything.
How Can Sales Reports Help You Understand and Run Your Business?
Sales reports are not just interesting stats — they are critical data sets that can help you understand your business and, ultimately, manage it more effectively. Sales reports can alert you to the areas of your business that are thriving and the areas that may not be serving you.
A positive example is that you might see that implementing a certain promotion resulted in a spike in sales for a particular product, so you decide to implement that promotion on a recurring basis. You might also see that a certain item isn’t selling well at all. By identifying this problem, you can eliminate this product from your inventory, replacing it with a more popular product to reduce waste and maximize profits.
Whether you identify successes or weaknesses in your business, the result is always positive. Without sales reports, you may feel like you’re leading your business blindly, making decisions based on general impressions or unreliable intuitions. Instead, make data-driven decisions that help your business grow and thrive.
Gain Insight Into Your Sales and Grow Your Business With NRS
National Retail Solutions is committed to equipping our clients with the tools they need to succeed as small businesses. This means offering user-friendly sales reports on our POS+ that make it easy to gain insight into your sales so you can capitalize on your successes and improve on your weaknesses. If you have questions about how to generate and customize sales reports on the POS+, visit our training site for POS+ users or contact us today.