To make your data easier to understand, Hike breaks down all the activity to these key reports.
All reports share the same fields below.
As per all reports, choose the outlet you wish to see from the Find... drop down menu.
Search & select one or more products, brands, product types, suppliers, seasons or tags to filter your results. This will only provides inventory reports for the particular data you are after.
Click on the date range box to choose to see data from Today, Yesterday, Last 7 days, Last 30 days, This month, Last month or a Custom range.
Click the APPLY button to data from that date period.
Click the EXPORT button to export the current report you are viewing for the date range selected.
Choose between PDF or Excel (.XLSX) format.
We will now go through the sections available on screen exclusively for Inventory Reports.
Current inventory report
Current inventory report lists details of the current inventory. Use the search box to only display details of a particular product within the date range selected.
Use the tick box Show low inventory items only (that has reached reorder level) to only display specific data, if you have completed the settings in the Products settings
The name of the product / variant, ie shirt, size small
The first number listed displays available stock, but if you hover the mouse over this box, will see three units displayed for each outlet, in order of
- Current stock available
- stock on back order, layby or parked
- Available stock for sale
Reorder qty column
The preset stock level suggested to reorder when stock levels hit the reorder point (if no settings made, will default to 0)
Reorder point column
The preset stock level suggested to trigger an alert if stock levels ever reached this level (if no settings made, will default to 0)
Unit cost column
The cost of the individual product unit, excluding any taxes. In Hike we use the Weighted Average cost which is the most commonly used when inventory are intertwined. It is the average of all the history cost price.
- The formula behind is divide the cost of goods available to sale by the number of unites available for sale. Taking an example if you have a phone accessory store, and you purchase 10 phone cases for $10/unit. Next month, you purchase another 5 phone cases for $5/unit. At the end of the accounting period, you sold 4 phone cases; the weighted average cost will be calculated like this: (10qty* $10/unit + 5qty *$5/unit)/(10qty+5qty)= $8.33/unit
- Please Note, the average cost will only be updated based on PO, manually change of the cost price under product detail page or via product file upload will not affect the average cost.
Total cost column
The cost of the total inventory of product units held, excluding any taxes
Retail price column
The retail sale price of the individual product unit, excluding any taxes
Retail value (Ex. tax) column
The retail sale price of the total inventory of product units held, excluding any taxes
Inventory purchase report
Inventory purchase report lists details of Purchase Order activity. Use the search box to only display details of a particular Purchase Order number within the date range selected.
The Purchase Order number
The supplier associated with the Purchase Order
The original stock level ordered
Qty received column
The actual stock level recorded as received
The total cost of the stock on the Purchase Order
Inventory adjustment report
Inventory adjustment report lists details of changes to stock level activity, typically by adjusting the stock levels in the Product details.
Date of the inventory adjustment
User that performed the inventory adjustment
Adjustment reason column
Details which product was adjusted
What the adjustment amount was
What the stock level before the adjustment was
What the stock level after the adjustment was
Cost of goods sold (COGS) report
Cost of goods sold report lists details of of the cost of goods sold. Use the search box to only display details of a particular product within the date range selected.
The product name of the item sold
Quantity sold column
The number of units of the product sold within the set time frame
Revenue (Ex. tax) column
Displays the amount of money that a company actually receives during a specific period, including discounts and refunds, paid by cash, card, gift card, on account, for the total sales of the particular item
Purchase cost column
The cost price of the individual good, before tax
Discounts given column
The monetary total of all discounts applied to that type of product
Spillage / Lost cost column
The monetary total of all losses applied to that type of product due to refunds without returning goods or from inventory adjustments
Gross profit column
Gross profit = revenue - cost of goods sold
Margin % column
The percentage difference between the cost for acquiring products and the selling price