Reports you should be using to check your business performance….
Each day, week or month, you should be printing these reports and analysing your business performance. Doing this gives you an understanding of your data to help run a better business.
Below are the reports I would print and check -
This report should be run daily, as this details your sales history. It shows your sales budget and highlights your important customers. It shows which customers spend the most money. Highlighting your top customers will also lead you to make sure you are giving them the excellent customer service that they deserve.
The Sales Register report should be checked each morning, as this tracks your outstanding quotes, sales in progress and finalised sales.
This report will highlight what items your customers are ordering. This will help with customer service, by better knowing what they are ordering and what you maybe able to suggest in other items they may like to purchase from your stocked items.
The Sales Customer Detail Report will also enable you to set your production or ordering schedule, for example stock levels that need to be re-ordered.
Using this report will monitor your outstanding debtors. Printing this report weekly and ringing each customer whose account is outside the terms of trade. Doing this weekly will help with your cashflow. Receiving payment of accounts on time helps you have cash on hand to pay bills and run your business.
The Cash Flow Analysis Report gives you a snap shot of what cash will be coming in and going out of your account over a set period of time.
Run this report daily to check against your bank statement, once your bank transactions have been imported from your banking institution. This helps identify that all your sales from the previous day has been transferred and the correct amount has been banked. Checking this daily will help find errors easier.
This report will highlight transactions that have been paid to your bank account but has not been receipted to your customers account.
Printing this report will compare your actual figures to your budgeted figures. This will highlight if you are on track, showing whether you are over or under budget. You can then monitor and put in place strategies to improve.
Your highly experienced bookkeeper will help you get the most out of your business and accounts.
So, if you need any help, please contact myself, as per website contact page