Intelligence Hub Update June 2019
Summary of changes
- Seamless experience with left-side navigation menu and reports displayed in one view
- Discount and shipping type line items are now included in sales report figures
- Accounting metrics have been revised to better align to industry standards
- Moved a few legacy reports to new report builder to deliver a consistent experience
- Fixed issue with report time-outs when date range is large
1. New Reports Interface
This is the new main page where you can build reports that help you understand your business and make informed decisions.
Based on the date preset selected, the graph on the overview page will provide you with a visual representation of your Total Order Value (monetary units), Total Profit (monetary units), and the number of products sold.
You can click on each tab to generate and display a graph specifically for the tab selected (Total Order Value, Total Profit, Products Sold). Based on the date preset selected, the graph also includes last year's results for comparison so you can see how your business is currently performing.
The leaderboard provides you with an overview of what has been contributing to your overall sales for the date preset selected. There are a range of available filters, from which you can select to generate specific data, that can be narrowed down to either Order Value or Order Quantity.
On the leaderboard, you may notice a Green Arrow pointing up or a Red Arrow pointing down. The Green Arrow pointing up indicates an increase in ranking where as the Red Arrow pointing down indicates a decrease in rankings.
The increase and decrease of rankings are based on comparing the current time period selected to the previous time period. For example: If you select a 30 day time period, the rankings will be calculated based on the previous 30 day time period.
The Sales reports provide you with detailed insight on your business’ overall earnings and profit. This is where you can generate a breakdown of your gross sales, net sales and net profit. You can also use various groupings to understand your discounts, shipping, returns and tax.
There are 6 sales report templates available:
Invoice and Payment breakdown is where you find data associated with Invoice or Payment totals rather than Sales Order totals. This is especially helpful when calculating sales commissions for your sales teams, based on Invoiced or Paid Sales.
The Channels section gives you a better picture of how your various sales channels are performing in terms of sales volume and velocity.
There are 2 channel report templates available:
The Customer reports provide you insight on your customers. This allows you to better manage and grow customer relationships.
There are 5 customer report templates available:
The Inventory reports provide you with insight on key aspects of your inventory. This information is very useful for tracking your stock quantities and value in various locations.
There are 7 available Inventory reports you can generate:
Product Performance reports provide information on the volume, velocity and profitability of your various products. This helps you better manage your product portfolio and strategy
There are 4 product performance report templates available:
Pin, Save, Export and Schedule Reports
There are a number of actions available to improve reporting efficiency. These are found under manage report and save changes at the top right corner of the reporting page.
- Schedule - Scheduling a report works on a user level. Select from a list of presets to have a report sent to your email on a daily/weekly/monthly basis.
- Save - Saving a report works on an account level, which means the saved reports are accessible by all users in the organization.
- Pin - Pinning a report works on a user level, pinned reports will appear in the reporting navigation menu and are only visible to the user who pinned it.
- Export - Exporting a report allows you to download the data table in .csv format for external use
- Leave Feedback - Leave us feedback so that we can improve the Reporting section
- Help - Access our support resources here
2. Discount, Shipping and Tax Line Items in Reports
When sales orders are placed, often there are non-product line items that affect various subtotals in an order. Discount, shipping and tax type line items are supported in Sales reports and this is how each line item type is treated in our reports.
Discount Line Item type
A discount line item indicates a reduction in the amount to be paid for an order or for a specific product. In sales reports, discounts are available as a metric under the “Show Me” field and are used in calculating Net Sales.
Exception: When grouping by product, product brand, product type or variant, discount line items that are applied at a whole order level will not be accounted for. This is because we are unable to distribute the order level discount to every item in an order.
Note: Automatic discounts from Shopify are not supported in our app at the moment and will not show up under the “Discount” metric either.
Shipping Line Items type
A shipping line item indicates an amount charged for freight purposes. In sales reports, shipping is available as a metric under the “Show Me” field and are used in calculating Cost of Goods Sold as well as Net Profit.
Exception: When grouping by product, product brand or product type, shipping line items will not be accounted for because we are unable to distribute the order level shipping cost to every item in an order.
Tax Line Items type
A tax line item indicates an amount charged for tax purposes. In sales reports, Tax is available under the “Show Me” field but is not used in the calculation of other metric.
3. Accounting Metrics in Reporting
In an effort to better align with industry accounting standard definitions, there has been a revision of the accounting metrics available in the order reports and invoice reports.
For Order Reports, you will see Quantity, Gross Sales, Discount, Tax, Cost of Goods Sold, Total Returns, Net Sales, Net Profit.
For Invoice Reports, you will see Quantity, Gross Sales, Tax and Discount.
Gross and Net Sales
Gross and Net Sales are metrics that help you understand the revenue of your business as a result of sales activities.
Discounts and Returns are costs of selling a product as businesses allow customers to buy at a reduced price or have the right to return a product within the terms of return. These costs are removed from the Net Sales figure to provide a more accurate picture of the business’ actual sales revenue
Net Sales = Gross Sales - Discounts - Total Returns
Cost of Goods Sold and Net Profit
Net Profit helps you understand the profitability of your business. You can look at Net Profit by Customers, Products or over time.
Cost of Goods Sold includes the cost of purchasing a product from a supplier and the cost of shipping a product to the customer. These business costs are used to calculate the Net Profit for a particular customer, sales channel, time period etc.
Net Profit = Net Sales - Cost of Goods Sold
Here are the definitions for the report metrics
The total number of items sold
The total value of the items sold without discounts or tax
All discounts on items or on the whole order
Calculated as the discount rate * price
The sum of the tax on each item in the order,
Calculated as the discounted price * tax rate
Cost of Goods Sold
The total cost of the items sold + shipping
Moving average cost * quantity sold + shipping
Value of the goods returned
Calculated as quantity returned * amount paid per item (discounted price + tax)
Gross sales - returned - discount
In this case returned is the gross value of the items * quantity returned, it does not include tax or discounts
Net Sales - Cost of goods sold
The cost of shipping without taxes and before subtracting discount
4. Moved legacy reports to new report builder
We have made changes to a number of legacy reports to provide a more consistent experience and better report. Here is a list of the reports that have had changes made to them.
- Orders History
- Inventory Details
- Stock by Location
- Incoming Stock
These reports can now be saved on account level, pinned or scheduled on user level.
5. Report Timeouts
Previously, whenever a large amount of data was selected in reports, users would face timeouts while running reports. We changed the way our reports are generated and users will no longer be blocked from getting the information they need.
Note: Timeout fix applies only to legacy reports that have been moved to the new report builder.