Sales reporting is a must any business’ operations. Yet, the problem with the usual sales is that by the time you detect a problem in your sales process, you may have already lost significant revenue. A daily sales report addresses this issue quite effectively. It can help you gain insights, pointing out bottlenecks and gaps in your sales process and your sales team can understand the challenges ahead of them and find solutions in time. This report identifies opportunities to achieve the below goals:
- Track most recent net sales status.
- Track sales channel with the best performance.
- Track product performance yesterday.
|Goals||Questions to ask||Dashboard views|
|Track most recent net sales status||What the total sales yesterday, MTD, FYTD? Did the sales yesterday align with that of the nearest ?||Net Sales yesterday, Net Sales MTD, Net Sales FYTD, Net Sales MA30|
|Track sales channel with the best performance||Which channel has brought in maximum sales yesterday, this month till today and this current fiscal year till today?||Net Sales yesterday, Net Sales MTD, Net Sales FYTD by Channel|
|Track product performance yesterday||Which product in most sales yesterday by units and values?||Top Product (Units), Top Product (Dollar)|
The total revenue generated by the company, excluding any sales returns, allowances, and discounts.
MTD or Month to date:
The period starting from the 1st of the current month till today.
FYTD or Fiscal Month to date:
The period starting from the 1st of the current fiscal year till today.
MA30 or Moving average 30 days:
The average amount in the nearest 30 days.
Daily Sales Report
- Understanding how net sales is especially important when calculating your business’s revenue and determining your overall net earnings, also known as the bottom line.
- Year-to-date (YTD) and month-to-date (MTD) calculations are useful in many industries, such as business management, accounting and finance. It’s an effective way to determine the financial health of a company without waiting until the end of the month or the fiscal year. If you’re in a management role, calculating the YTD can help you to figure out the company’s net sales over a set period.
- Identifying the top selling products and product categories by sales important from a marketing as well as operations perspective. The inventory needs to be stocked with these to avoid a shortage situation, leading to customer dissatisfaction and even losses. The business could identify the traits of the most revenue generating products and understand what went wrong for others.
The report makes an important contribution to tracking of daily sales, it helps to save time and effort of stakeholders when it is necessary to determine total net sales yesterday – MTD – FYTD, sales channels and products.
In this example, B2B is currently the most profitable channel although it well since the start of this fiscal year, and yesterday the most favored product was the men’s original boxers and padded shaper .