Standard Reporting: Sales Reports
A sales report is not just a list of products sold or services rendered and the total amount collected within a given period. It is an important piece of document that serves a higher purpose for any company.
Sales reports, therefore, must have all valuable information for it to serve its purpose well. Product code, quantity and purchase date are always considered but some sales reports even include customer name and contact details or even confidential information such as bank account number or credit card number depending on the method of purchase.
A well-documented sales report can then be used to analyze whether the company is seeing growth or not. Companies compare them to previous sales reports so that they can make better decisions. Products or services that do not go well with customers can be further developed or taken out of the list. Trends can also be seen in sales reports, which is useful in predicting future sales.
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