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How Tracepos Boosts Your Retail Business – The Ultimate Workflow Guide

Hillary Marcel 0

Are you looking for a way to manage your inventory more efficiently and effectively? If so, you might want to check out Tracepos. Tracepos is a cloud-based inventory management software that helps you keep track of your products, sales, purchases, and expenses. Whether you run a single shop or multiple warehouses, Tracepos can help you streamline your operations and grow your business.

In this article, we will show you the basic workflow of using Tracepos for your retail business. You will learn how to:

  • Set up your account and add more shops or warehouses
  • Create products and manage your stock levels
  • Record sales and purchases
  • Create expenses and track your cash flow
  • Generate reports and analyze your performance

Tracepos Setup: How to Add More Shops or Warehouses Easily

To start using Tracepos, you need to create an account on our website. You can sign up for a free trial at https://app.tracepos.net/register or choose a plan that suits your needs https://tracepos.net/pricing.  Once you have created your account, you can log in to your dashboard and follow the setup steps. learn how to set up your Tracepos account

If you want to add more shops or warehouses to your account, you can do so by following this guide on how to create a new warehouse on Tracepos. This will allow you to manage your inventory across different locations and transfer stock between them.

You can also create more payment methods on Tracepos to accept different forms of payment from your customers. You can follow this guide to learn how to create a new payment method on Tracepos. You can choose from cash, card, bank transfer, mobile money, or custom payment methods.

Creating Products and Managing Your Stock Levels

The next step is to create products that you sell in your shop or warehouse. You can do this by following the documentation of how to create a product on Tracepos and how to use the Tracepos Product Manager. You can add basic information such as name, price, category, barcode, and image. You can also add custom fields and variants to your products.

When you create a product, you need to set the opening stock of the product to reflect the current quantity you have in your inventory. You can also adjust the stock levels of your products at any time by using the stock adjustment feature. Learn about it here

To keep track of your stock levels, you can use the low stock alert feature to get notified when your products are running low. You can also use the stock audit feature to verify the accuracy of your inventory records.

Recording Sales and Purchases

When a customer walks into your store to buy goods from you, you should treat the sale as a POS transaction. You can use the Tracepos POS module to process the sale quickly and easily. You can follow the documentation here on how to create a POS sale to learn how to use the POS system.

You can scan the barcode of the products, enter the quantity, apply discounts, select the payment method, and print or email the receipt. The POS system will automatically update your inventory and sales records.

When you make purchases or restock an item or items that are already on Tracepos from your supplier, you need to go to Purchases and record the purchase on Tracepos. You can follow the Tracepos user guide on how to record purchases to learn how to do this.

You can enter the supplier details, the products, the quantity, the cost, the payment method, and the delivery status. The purchase will automatically update your inventory and purchase records.

If an item that you purchased is not on Tracepos, you need to create a new item, set the opening stock of the item to 0, and then record it as a purchase alongside other products that you are restocking on the same invoice.

Here are some articles that you may read:

5 Powerful Ways Tracepos Inventory Management Software Can Help Your Business Grow

What is the Best POS Software for Retail Business in 2024? Find Out Here

Tracepos: How a Retailer Achieved 30% Increase in Sales with Tracepos

Creating Expenses and Tracking Your Cash Flow

To manage your expenses, you need to first create all your expense categories on Tracepos. You can do this by following the documentation on how to create expense categories. You can create categories such as rent, utilities, salaries, taxes, etc.

Then, you need to go to the expense menu and create expenses any time that you make an expense. You can follow the documentation on how to create expenses to learn how to do this.

You can enter the expense category, the amount, the date, the payment method, and the reference. You can also attach a receipt or a document to the expense. The expense will automatically update your expense and cash flow records.

To track your cash flow, you can use the cash register report on Tracepos. You can follow the documentation on how to use the cash register to learn how to do this.

You can view cash or bank transactions for each day. You can enter the opening and closing balance, the cash in and out, and the cash difference. You can also print or email the cash register report.

Generating Reports and Analyzing Your Performance

To see all the sales that were made for the day or for any period, you can go to the sales module and select the start and end date input option. You can also view reports for sales and select the period. You can see the total sales, the number of sales, the average sale value, the profit, the margin, and the payment methods.

You can also generate reports for other aspects of your business, such as products, purchases, expenses, customers, suppliers, and warehouses. You can filter, sort, and export the reports as you wish.

You can use the reports to analyze your performance and identify areas of improvement. You can see which products are selling well, which suppliers are giving you the best deals, which expenses are eating up your profits, which customers are loyal, and which warehouses are efficient.

Conclusion

Tracepos is a powerful and easy-to-use inventory management software that can help you run your retail business smoothly and successfully. By following the basic workflow of using Tracepos, you can manage your products, sales, purchases, expenses, and reports with ease.

If you want to learn more about Tracepos and its features, you can visit our website or contact our support team. You can also sign up for a free trial or a plan that suits your needs.

We hope you found this article helpful and informative. If you have any questions or feedback, please let us know in the comments below. Thank you for reading!

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