A retail stock ledger is software that helps retailers track the amount of stock or inventory they have on hand. It also helps track percentages as related to vendor pricing, sales and profits. You may customize reports to research the particular problems your store encounters, as well as quickly identify problem areas that eat away at your profits.
A retail stock ledger deducts each item sold from inventory. You may ask this software for a report that shows the retail value of remaining inventory. You can also get a report on the cost of your current inventory. This helps you track how much money you have tied up in stock.
Your retail stock ledger tells you how much each vendor charges for items. It also tracks the variances between the cost of an item on a vendor invoice versus the cost of the item on the receiving ticket. This helps you follow which vendors are consistent in their pricing, and you can catch any errors in vendor charges that are higher than agreed-upon charges.
A retail stock ledger values all of your sales at retail price. It also deducts returns and markdowns. This allows you to figure the gross income from goods sold. The retail stock ledger also calculates the cost of goods sold to give you a net figure for your sales.
A retail stock ledger calculates your profits in two ways. The first is in actual dollars: You ask for a report that shows the amount of money in profits you've made for the month to date or the year to date. The software also figures your profit percentage by comparing your cost of sales to your revenues.
You may get reports on how quickly your inventory turns over and track the percentage of returns you're experiencing. Another option is to track your markdowns as a percentage of sales.