Role: Store owner or inventory manager.
Job: Cleaning up data.
Recommended Frequency: Monthly.
The Margin Alerts report allows you to see items sold at cost or had zero cost entered in their item record. These sale lines indicate incorrectly entered purchase orders or inappropriate discounting.
Healthy inventory through accurate reporting:
- Accurate sales reporting allows for optimal inventory planning which in turn leads to more profitability.
- Other reports highlight minute differences between the margins and costs of items to make inventory planning recommendations. These reports only work when the costs are accurate. Accurate item records allows you to trust your reports which empowers you to create a profitable inventory plan.
Accurate tax filing:
- Gross and Net Profit are calculated incorrectly if the Cost of Goods Sold is not entered properly in your sales history.
- Current inventory levels will be reported inaccurately if costs are not entered correctly per item.
- This report will identify employee training opportunities.
- Sale Total
- Sale Line Margin
- By default, the filter is set to not non-inventory
- Non-Inventory items are excluded as they are typically coupons or labor charges and do not have a cost entered.
Sales Time Stamp Date:
- By default, the filter is set to in the past 365 days.
Sales Line Margin:
- By default, the filter is set to 100 or is 0.
- Only items that sold for the exact amount of their cost or items that have no cost in their record will appear.
Turbocharge your report
- Filter by Item Description or Category to exclude certain items that you know should have 0% margins.
- Add the Shop Name dimension as a filter to narrow this report to specific locations.
- Add the Employee dimension to see if certain employees are selling items at cost far more than others.
- Add the Default Vendor dimension to see if a certain vendors purchase order’s are being entered incorrectly.
- From your Lightspeed Retail account, in the History section of your item, edit its inventory entries with its accurate cost. In the Details section of your item, edit its price. Doing this will also correct your past sales reports.
NOTE: Sort your report by Sale Line Total to tackle the largest inaccuracies first.
- Edit the Details section of your items that should be filtered out of your report (for example, a coupon with a 100% margin that should be set as a non-inventory item).
- Train your employees on pricing concepts using helpful articles in our Retail Help Center so they understand how to enter costs when receiving items in the future.