With the extensive selection of reports in RQ, it can be easy to get lost in the midst of all your options.
Whether you are new to RQ or an advanced user, we have compiled a list of valuable RQ reports and their common uses to help you on your way.
1. Sales by Employee Report – Report on employee sales, quantities, profitability and commission by employee, location, district, region or company. Break it down even further by selecting criteria to search within a date range, category, or per-product basis.
This versatile report will prove useful for various levels in the company. Employees will find it easy to view their sales and related commissions. District Managers can monitor the performance of their particular area of responsibility. Auditing personnel may find it useful to check how products are being sold, and by whom, to help raise red flags.
Pinpointing cases like these can indicate the need for further training to help employees reduce large amounts of refunds by providing proper education to customers at the time of sale. Other times, fraudulent behavior may be present and this report will act as a guide for bringing to light cases that may need investigation.
With this report, you can create and customize a view that groups products you may like to track together. For example, you can group certain types of accessories to help determine whether they are profitable enough to continue ordering.
You can also group a set of products that are on promotion to determine their performance.
4. Invoice History Report – Review all the invoices and their current statuses by location or by a specific invoice number. If you run the report by location, you can also filter the invoices by their status (Tendering, Failed, Incomplete, Tendered).
A store employee will find it easy to view invoice details right in the Sales Console where each invoice and its status are clearly displayed. This comes in handy, especially when an invoice runs into difficulty tendering. A quick check of the invoice status tells you whether the invoice was tendered and will help eliminate double-charges to customers due to multiple tender attempts.
If you require real-time insight into invoices without physically being in the store, you can run the Invoice History Report. Auditing personnel, district managers, IT personnel and even the executive level will find this useful to identify transactions that have been started but not completed, high amounts of invoices that have failed or high amounts of transactions stuck in the tendering status. Regular monitoring of this report can assist with reducing fraudulent behavior, pinpointing employees who may need additional training and identifying recurring connection problems at locations.
The most common use of this report is to view all items that were sold on an invoice. The products that track the commission you receive from your carrier are often set to be hidden on the invoice. For this reason, viewing the actual invoice that was given to a customer often will not suffice to obtain a full understanding of what occurred on a particular sale.
The Product Detail Report can be run by invoice number and is frequently used to look at the breakdown of gross profit for a sale. It provides a line-by-line calculation with cost figures.
6. Inventory Listing Report – View a complete list of products within the entire company or at a particular location. You can also drill down through the categories to view products in selected or all categories.
The listing report is commonly used by accountants to get cost figures on inventory. They will run the report at the beginning of the month and again at the end and subtract the cost figures for each date to obtain the Cost of Goods Sold for the month.
The report also provides value to anyone monitoring or spot-checking stock for customer requests or for auditing purposes.
7. Inventory Totals by Location – View a summary of inventory dollar values for products in various statuses (in stock, non-sellable, RMA’d, on consignment) on a per location basis. The Graphed Inventory Report shows this same information in graphical form.
This report provides a high-level view of totals by location. Inventory managers will use this report to compare and track stock at various locations to determine future stocking needs and help with forecasting.
Auditing personnel may use this report to track the nature in which stock is moving within the company. For instance, a location may show a high number of RMA’d products or products moved into non-sellable. This can serve as a red flag for potential fraud cases and brings to light the way stock is being handled within a store or how stock is being handled and delivered by vendors.
Products are moved into non-sellable status if they are deemed as defective or returned by customers in a non-usable state. Products that come off the shelf for this reason are at a high risk for being lost or forgotten. For this reason, tracking non-sellable inventory is essential to minimize loss in your business. Use this report to view all products in non-sellable and keep a close eye on large influxes of products into this status.
This report is especially useful for keeping tabs on serialized products. You will see all activity for a particular serialized product from original procurement right down to the sale and any applicable exchanges or refunds. For non-serialized products, the same information is displayed but provides an aggregate view of all activity for a particular product SKU.
If the status of a product is ever in question, this is the report to use.
10. Vendor Rebate History Report – Find vendor rebates associated with specific tracking numbers, product SKUs or vendor accounts to track whether they have been reconciled, charged back or to determine total quantities and amounts for a given time period. Provide copies of invoices to your carrier by selecting all or selected invoices being displayed and Shift-Click and select Print Selected Invoices.
Since vendor rebate products in RQ track the commissions you should be receiving from you carrier, use this report regularly to help anticipate the amount you’ll be getting and to narrow down activity related to particular invoices. If you are reconciling regularly in RQ, you should see a large chunk of transactions flagged as being reconciled with only investigative cases left standing for any time period that is eligible for reconciliation.
An added benefit is the ability to see related devices for each applicable term offered. This will help pinpoint devices that are making the most sales for each term that is offered.
11. Performance Metrix Summary Report – Check actual sales against set targets for all performance groups within a selected node of the company tree. The trending figure contains the projected sales for a period, calculated by taking the average sales per day to the current date and multiplying by the number of days in the period.
The ability to set your own custom performance groups offers versatility in the way you see this report. You can track any number of skus in any combination through a performance group, set targets for those groups and use this report to track how well those groups are performing.
A wireless dealer, for example, will often create groups to track activations, accessories, special promotions and service products.
Managers and sales employees will find it helpful to check this report to monitor progress for their area of responsibility. If a particular group is falling behind, it may indicate the need for further training or it may indicate a change in market conditions.
Reporting in RQ can be a daunting, yet rewarding, experience. We hope this list will give you a head start. Stay tuned for the next part in the this series that will offer a look at customizability in RQ reporting as well as top-notch types of customization that will take your reporting finesse to the next level.
View Part 2 of our RQ Tips Reporting Series: Customized Reports in 8 Steps.
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