Inventory Report

Inventory Report

To make your data easier to understand, Hike breaks down all the activity to these key reports.

All reports share the same fields below.

Find outlet...

As per all reports, choose the outlet you wish to see from the Find... drop down menu.

Filter by...

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.

Date range

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.

Export

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

current-inventory-popup750.png

  • Product column

    The name of the product / variant, ie shirt, size small

  • Inventory column

    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
  1. Current stock available
  2. stock on back order, layby or parked
  3. 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. 

    inventory-purchase750.png

    • PO# column

      The Purchase Order number

    • Supplier column

      The supplier associated with the Purchase Order

    • Qty column

      The original stock level ordered

    • Qty received column

      The actual stock level recorded as received

    • Cost column

      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. 

    adjustment-list750.png

    • Date column

      Date of the inventory adjustment

    • User column

      User that performed the inventory adjustment

    • Adjustment reason column

      Details which product was adjusted

    • Change column

      What the adjustment amount was

    • Opening column

      What the stock level before the adjustment was

    • Closing column

      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. 

    cogs-list750.png

    • Item column

      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

      • Related Articles

      • Sales Report

        To make your data easier to understand, Hike breaks down all the sales activities into these key reports. All sales reports share the same fields below. Outlet As with any report, choose the outlet you wish to see from the drop-down list. You can ...

      • Creating & Completing Inventory Counts in Hike

        Inventory counts (or stock takes, depending on where you live) are an essential part of any business – helping retailers keep track of their inventory. The basic premise of an inventory count involves recording the quantity of each product in your ...

      • Inventory Dashboard

        The inventory dashboard provides a snapshot of your entire inventory on one page. If you have multiple outlets, use the drop down menu to check the inventory of each outlet. Lets look at the information on screen. Dashboard Tiles The large dashboard ...

      • My Inventory

        My Inventory page lists all the inventory you currently have. You can filter the results by Outlet name, or by Product name. Inventory table The table displays all products with the following column headers as pictured here Inventory items column The ...

      • Payments Report

        To make your data easier to understand, Hike breaks down all the activity to these key reports. All reports share the same fields below. Find outlet... As per all reports, choose the outlet you wish to see from the Find... drop down menu. Date range ...