5 Reports which a must for All Business Owners
When owning and operating an online business, making a good report is the best way to collate and store all the relevant information about your business from market analysis and prediction to tax planning.
Here are some important reports an online business owner should create:
- Sales Report – A sales report shows the company’s sales statistics in a given time period reflecting whether the business is successful or unsuccessful. A look at a sales report tells the sales manager about market opportunities or areas where the sales volume can be increased. It’s best to have previous year’s week-to-week sales reports while planning for the current year since sales are dependent on season, festivals and special occasions. A sales report also provides analysis about your products relevancy and its demand in the market.
- Items Sold Report – A weekly report about the items sold based on the quantity of each order. It is a report which provides sales data regarding the number of individual items sold. It unearths precious information about trending products and stock levels.
- Stock and Inventory Reports – Stock reports are all about the supply. As a business owner, you must be an expert to quench the market demand through a well-stocked inventory. An inventory report tells you exactly where you are at the end of the week, and how far behind are you for the next week. You can then work on stocking up for the future based on the numbers acquired from the reports.
- Manifest Reports – Each of these reports would contain manifest reports for every courier service that you employ, weekly delivery details of orders assigned to a particular courier company. It is a good practice to keep a better watch on your products in transit.
- Customers Report – These reports provide your customers information, creates a database to recognize and notify you about recurring customers. A contact list of all your customers is best for your online marketing as these customers are going to be your biggest advertisers.
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