POS System Essential Reports

Modern POS system often provide you with comprehensive reports that help you obtain valuable insights to your business. What are some of the most essential POS system reports? We discuss in this article.

Sales Reports

These are the most accessed POS system reports by business owners as it is directly related to business revenue. Here are some essential sales reports:

• Daily sales reports (End of operation reports)
• Shift end reports
• Best selling items reports (Hourly/Daily/Monthly)
• Profit and loss reports

Daily sales reports

This is a must-have report for all POS systems. It allows business owners to keep track of sales figures on a day to day basis. Your POS system should also allow for date filtering that enables business owners to select a date range of daily sales reports to be generated.

Shift end reports

Some business owners categorize their operation hours into multiple shifts. Shift end reports allow business owners to draw conclusions about which are the better performing times of day for their business.

Best selling items reports

This report in your POS system helps business owners to identify their best selling products by day, week, month, or all time, in order to plan ahead for stock ins, or marketing campaigns and gain a better understanding of their customer demographics.

Profit and loss reports

A POS system’s profit and loss reports allows business owners to view the individual number of items sold across a selected time period, each product’s cost price, selling price and profits.

This report is one of the most important and informative report that your POS system should provide you with.

Inventory reports

Your POS system’s inventory reports helps you simplify inventory management which can be a tedious time-consuming task. Here are some of the important inventory reports your POS system should have:

• Stock level reports
• Variance reports

Stock level reports

Through stock level reports, business owners are able to easily keep track of stock levels in their inventory without having to perform daily stock takes. Low stock reports should also be available to you through your POS system. It enables businesses owners to easily identify low stock products in need of a restock soon.

This feature is useful for retail and salon businesses to keep track and manage their inventory. F&B businesses such as bars and pubs also utilize this feature to get manage their liquor inventory.

Variance reports

Your POS system should be able to generate variance reports during stock take to give you information on forecasted vs actual stock levels and also allow you to update your stock levels in your POS system during stock take.

Security-related reports

Employee fraud is common in the retail and F&B industry. In order to preclude employee theft, your POS system should provide reports on activities on your POS system such as:

• Audit trails
• Discount reports
• Deleted item reports

Audit trails

This report enables business owners to track every action on the POS system in order to detect and trace fraudulent activity on your POS system.

Discount & FOC reports

Discount & FOC reports shows you the discounts given to customers through staff and records the date, time, name of staff, receipt number and amount of discount given. This helps you to identify any unauthorized discounts or FOC items/bill given to safeguard your revenue.

Deleted item report

In some cases, dishonest staff may key in and delete items from the bill to keep a portion of the total bill for themselves. By keeping track of this action through your POS system, you are able to identify such cases with ease.

Getting a POS system with comprehensive reports

Interested in getting a POS system with all the essential reports you need and more? Click here to get a free demo on MEGAPOS POS system today.