Manual method
This method is applicable for small stores with a limited range of goods. For example, if the store specializes in selling building materials such as timber, boards and logs, then the inventory of goods can be kept manually.
To do this, you need to enter records of deliveries and sales in a notebook, and then, using a calculator, calculate the turnover indicators. Information for the calculation is taken from:
consignment notes and invoices from suppliers;
cash reports and data on revenue and taiwan business email list profit, which are recorded through the online cash register;
other documents.
Manual method
Source: shutterstock.com
The advantages of this method:
there is no need to use special programs and equipment, which allows you to save money;
there is no need to depend on electricity and the Internet.
Disadvantages of the manual method of calculating turnover:
Data privacy should not be forgotten, as anyone can find a notebook with notes, which will increase the risk of leakage of information about the company;
there is a possibility of losing the notebook;
Discrepancies and errors due to human factors are possible.
Using Excel tables in calculations
Using Excel tables, you can conveniently calculate the turnover in medium-sized stores. The initial level of automation can be called the use of ready-made templates, for example, as in the photo. Simple formulas in the table allow you to automatically calculate the turnover when entering a value in one of the cells. All indicators are taken from primary documents, such as invoices, consignment notes, etc.
Using Excel tables in calculations
Source: shutterstock.com
Advantages of this method:
free use of an Excel spreadsheet that only requires a computer or other device to open;
the ability to work without an internet connection;
the data saved in the program will be available to any employee who has a work computer. The table can be deleted only at your request;
Editing information in a table is safe and does not cause confusion, unlike corrections in a notebook.
Disadvantages of this method:
the program is limited in functionality and is not capable of performing complex mathematical calculations;
If you delete a table, the data will be lost;
With a large assortment of goods, keeping records in an Excel spreadsheet becomes inconvenient.
To work in the online version of the table, you need to have a stable Internet connection. This can be done, for example, by registering on Google or Yandex disk. All adjustments made are saved in the change history, so if necessary, you can return to the desired version.
Using the inventory control program
For entrepreneurs who have a large store with a wide range of goods, it is suitable to use a specialized inventory control program. The method is based on the use of an inventory control system that allows you to control finances, economic indicators and warehouse balances automatically.
Using the inventory control program
Source: shutterstock.com
In the context of control over trade turnover, this system provides a number of advantages, as well as the ability to:
analyze sales for each product;
monitor the total volume of funds in the turnover of goods;
monitor the difference between the purchase price and the sale price;
evaluate the profitability of each product;
automatically calculate the cost price of goods taking into account changes in purchase prices.
By automating business operations and eliminating the influence of the human factor, employee productivity increases significantly and the likelihood of errors is reduced to a minimum.
Increase Your Profits by 10X: 5 Key Metrics You Must Track
Alexander Kuleshov
Alexander Kuleshov
General Director of Sales Generator LLC
Read more posts on my personal blog:
After working with over 300 online projects , I can guarantee: monitor these metrics weekly and your company will not only survive, but also increase its profits by 10 times!
In the context of sanctions and crisis, knowing the ROI of your advertising decides whether your business will be successful. Tracking these 5 critical indicators is the key to your prosperity.
What you get for free:
5 Key Metrics to Increase Profits by 220%
Advertising Channels Efficiency Calculator: Optimize Your Budget and Increase ROI by 70%
A Killer Commercial Proposal Template That Increases Conversion to Deals by 60%
We have prepared all the documents and templates wi