A majority of modern POS systems provide a lot more than point-of-sale
information. Most are full-fledged business management
systems that allow shops to not only accept and track transactions
but also to report on many aspects of their operations. From inventory
to payroll, POS reporting solutions can help manage practically any
element of your organization.

What is POS reporting?

A POS report is nothing more than a compilation of data collected
by your point of sale system. Modern POS systems may provide a
number of statistics on a daily, weekly or monthly basis since they
can track item sales, credit card transactions, purchases, payments
and employee hours.

• Sales Reports
  
  With sales being the lifeblood of every business, any cloud-based POS system should have the ability to create thorough sales reports whenever they are needed. POS sales data may help a business determine what is profitable, what times of the day, week, or year are the busiest for business, and the unpopular items that can be removed from the shelves. Keep an eye on the following essential metrics for your POS sales report:
  
  -> Items with the highest/lowest sales
  -> Day/date range sales activity
  -> Salesperson-wise sales
  -> Counter-wise sales
  -> Most frequently returned products
  -> Gross earnings during the week, month, year
  -> Sales through internet and mobile devices
  -> Basket Analysis
• Payment Reports
  
  While sales are important, the amount of money a company makes or loses is determined by the actual payments made. Cash flow, credit card payments, and inefficiencies that affect the bottom line may be tracked using POS payment reports. Payment report data can be used to minimize staff fraud, apart from establishing how consumers want to pay and how many sales are reduced or sold at full price. In your POS payment records, you should be able to track the following:
  -> Cash-based events
  -> Taxes paid
  -> Tips and Gratuities
  -> Sales canceled
  -> Refunds
  -> Mode of payment-wise reports
  -> Payouts to employees
  -> Cash and other miscellaneous (petty cash) expenses reports
• Inventory Reports
  
  Most POS software incorporates inventory asset management software, which allows you to match your stock volume with your sales volume. You may produce reports displaying your inventory amounts, inventory values, and the goods or ingredients you're running out of, with a POS system having effective inventory management. A few of the useful POS inventory reports that can be analyzed are:
  ->Reordering inventory reports
  -> Inventory value reports
  -> Raw materials report
  -> Real-time inventory tracking reports
  -> loss/damage of stock reports
• Employee Reports
  

It might be tough to assess an employee's actual worth to your company and identify areas where they require more training. Instead of constantly looking over your employee's shoulders, you can use POS employee reports to effectively track their performance and sales. A contemporary POS should display sales-related employee activity, tracing each transaction to a particular employee. Here are some key figures, your employee reports need to highlight:
-> Employee-based sales
-> Profitability of Employee Commissions

• Customer Reports
  

It is important to know who your most frequent and inactive customers are so that you can proactively ensure that they are satisfied. Here are a few customer-oriented reports that can be viewed:
-> Top customers by value
-> Most frequent visitors
-> Most purchased items by top customers
-> Most purchased items by frequent visitors
-> Inactive customers

Implement an Excellent POS reporting system

Any business owner who uses POS reports to make business decisions can reap a host of benefits. Reports from your POS system can give detailed business insights, an overview of your sales data, and purchases, and detailed inventory tracking that helps you determine where your business stands, your valued customers, the best-selling products, and a lot more.