One of the most popular activity reports on NexoPOS is incomes and losses. While summarizing a large amount of data, it provides you with relevant information about your business. And one of the main things to remember is the calculation of your gross profit margin in terms of sales to the day, month and year. It is therefore very important for you to know how this great tool works, and especially how to get the most out of it. Hence, this will be the object of this day’s tutorial.
How the incomes and losses report works
First, we’ll show you how to access this report. To do so, you must follow the following path on your dashboard: Reports> Incomes and Losses. When loading the page, it displays the information on the current day by default.
Regarding the operation now, two fields are available to you. They serve to delimit the period of analysis of your activity. And once completed, click on the “Load” button to display the results.
- The “Start Date” field indicates the beginning of the period of the report. Click on it to display the calendar and set the date.
- The “End Date” field indicates the end of the period of the report. Click on it to display the calendar and set the date.
A table displays the results. The latter presents the sales of items made over the selected period. You also have other equally astute buttons. One to print your report and the other to export your report as a CSV file.
The Incomes and Losses report explained
As its name indicates, this report reveals revenue related to the sale of items or services over a chosen period. Indeed the gross sales prices per item are displayed (1). In addition, the net sales price is taken into account (2). Indeed, if a discount is made for a specific item (3), a deduction of the amount of the discount is made on the gross sale price of the product. And the discount is made either as a percentage or a fixed amount. And simultaneously the buying prices of the different items sold are given (4). In the end, for each item sold, the difference between the net selling price and the buying price is calculated to find the gross profit (5).
Other more or less important information is revealed in this report. We have:
- The date of issue of the invoice of the order. Indeed all orders are displayed in chronological order.
- The identification code of the order. This is the code generated when editing the invoice
- The name of each item sold by order
- The category of each item sold.
- The stock management unit of each article sold: This is the unique identifier given to each article.
- The quantity of each item sold makes it possible to count the items sold.
All this information can help you easily find an item sold or a particular order. You can also check the exact number of items sold over a period. Also over a given period, the report can generate the gross turnover, the net turnover, the total discounts, and the realized profit.
For our example, the period is from 10/07/2019 to 15/07/2019. The gross turnover (Gross Sales Price) is $ 57.28. Since no discount has been noted, the net turnover (Net sales price) is the same ($ 57.28). The buying price of the items sold is $ 80. Unfortunately, the profit is negative ($ -22.72) because the buying price of the items sold is higher than the net sales price.
Well, that’s all for this tutorial. We hope that you have got all about the incomes and losses report. But, if you have any issues, please don’t hesitate to contact us on [email protected] or by commenting on the post.