February 17, 2023 Blog

How Sales Reporting And Tracking Can Help Your Business

By Fida-E Zaheer, Read 5 mins

In a business, the aim is to make more and more sales to get maximum profit. Sales are derived from your products and getting money in exchange for the product or service. 

The Odoo Platform enhances different business tasks and departments to the maximum. Along with this platform, Clover and Moneris systems are interlinked to make transactions faster and seamless. Systems like Clover and Moneris are the best options to track sales as there is always proof of sale and other details mentioned in the systems.

Why are Sales Reporting and Tracking Important?

Sales reports are made to help the business understand its financial standing and forecast production and sales velocity for the future. Sales tracking is also important in making decisions based on hard-core knowledge and understanding of the business and its opportunities. 

The sales analysis report is confined to a specific period in which you study the sales of your product. This also includes knowing which product was fast running and most in demand. You can learn about it through the Clover system, which records the sales, price, and barcode of the product that has been sold.

Sales reporting is important for pivotal decisions of the business and for making assumptions about future forecasts regarding the revenue generation of the next financial period. 

Benefits of Sales Reporting: 

sales reporting - How Sales Reporting And Tracking Can Help Your Business - Syncoria Inc.

Apart from learning about the business’s financial position, a sales report is also beneficial for other departments and miscellaneous decisions related to the credibility and strength of the business. 

The benefits of sales tracking and reporting are: 

  • Fast decision making: The sales report show a prominent situation of the company’s financial standing. After knowing the financial situation, it is easy to make a certain decision without delaying more information. Decisions relating to investing in a new product line, how much quantity of a certain product is required, what should be the estimated sales forecast for the next fiscal period, etc. 
  • Improving Staffs Performance: Sales representative staff gets to know what they are expected to be doing and their goals. You also learn about the staff who need the training to perform better. You can help the staff improve the sales process by guiding them through the steps. 
  • Better Revenue Generation: As we know, sales are directly related to profits, and profits are a great part of the revenue generated by the company. By sales tracking and reporting, the business learns its most fast-moving product/service and what the customers expect from them. The business can make decisions based on their knowledge and improve revenue generation. 
  • Keep track of Inventory: When you know the sales details, and which products are most selling and low on sales, you can keep a check and balance on the inventory. This makes ordering and producing fast-selling products easy and holding the production of slow-selling products. 

How many times can you make Sales Report? 

sales report - How Sales Reporting And Tracking Can Help Your Business - Syncoria Inc.

The sales report does not have a fixed timeline. It varies from business to business. The reports can be made as frequently as daily and less frequently as quarterly or yearly. 

  • Daily sales report: This is a small sales tracking and reporting done daily. This is most relevant for superstores and stores with fast-selling products. These businesses also rely on systems like clover and Moneris to keep track of their sales that are paid for through cards. 
  • Weekly Sales Report: The weekly sales report is made at the end of the week and entails a list of all the week’s sales. This method also benefits from systems like Moneris to keep all their sales listed in detail to keep track of the products sold and check the inventory through the Odoo Platform. 
  • Bi-Weekly Report: This sales tracking and reporting is done after every two weeks and gives a good idea about what to expect for the next half of the month. 
  • Monthly Reports: These are reports most organizations make. These reports are the basis of yearly reports and forecasts. 
  • Quarterly Reports: These reports are made every three months and contain highly important information about the business and its performance. These reports are also used to measure the business’s success in the year and compare it to previous years for an even bigger decision like investing in a new plant of production, etc. 
  • Yearly reports: These are the big game. The sales tracking and reporting yearly is the major report and serious check on what the year has been like for the business. All big and small businesses make yearly reports to see how much they’ve spent and how much they’ve earned against it. 

How are Reports Delivered: 

The reports are made using software like CRM, etc. These reports are of high value for the business, and its employees as major decisions depend on the sales of the products and services. 

The reports are a matter of serious concern for the entire business and its departments, especially the customer care and sales departments. The reports are presented in front of the heads of multiple departments, and their input is taken. 

The feedback given by the heads of the departments is valued for improving the outcome in the next session. 


Sales tracking and reporting is a valuable activity that benefits the business in multiple ways. To enable a better understanding of the business and what to expect in the future based on reports frequently made on sales and delivered to the authorities. 

Systems like Clover and Moneris are known to keep details and information about the sales and the transactions based on sales. These systems are highly valuable for sales tracking and reporting. 

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