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How to Track Store Sales

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					                            How to Track Store Sales

Order and sales tracking has always been a complicated and exhausting, but important
task for business owners. There are numerous reasons a store owner needs to track sales
effectively; marketing and compliance are just a few. So how do you track your sales
without spending too much effort? What what are the pro's and con's of using sales
tracking software? This article will answer and explain all of these questions.

First of all, why should you even worry about tracking your sales? This is a long a
complicated answer with many reasons an scenarios. But two that a generally universal
are for marketing and compliance purposes. On the marketing side, the information you
gain from knowing what is or is not selling in your store is invaluable. Knowing what is
selling, and when it is selling should be a primary focus in your business. For example,
product A might sell more often than product B, but product B might have a higher profit
margin, maybe it also has a lower return rate as well. So which one should you stock and
promote? You can also use the information gained to promote similar products to people
you already know have an interest in your category. For example, you might have a
customer Mike who recently purchased a paintball gun from your sporting goods store.
You might want to send Mike a newsletter or promotion next time you are having a sale
on paintballs or other paintball related items Mike might be interested in.

Another reason you should track you sales is for compliance. Depending on where you
are located, you may be required to record all sales and orders and present this data to the
government. For example, in some European countries. All invoices must be submitted to
the government on request even if the invoice amount is $0. It also helps to have your
sales information when being audited or in the event of possible fraud, such as a stolen
credit card.

So how exactly does a merchant effectively track their sales and invoices? Not to long
ago this was a very daunting task, Some larger stores had entire departments dedicated to
doing just this. However, with the recently improvements in technology, this is not only
can this be automated with sales tracking software, but its also relatively inexpensive.
Most point of sale systems will have this feature built into the software. If you don't have
a POS system, there are tons of tracking software suites available.

				
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posted:6/19/2012
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