Is There A Template Online For Chicago Style 17 Edition 10 Top Uses For Excel in a Retail Store

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10 Top Uses For Excel in a Retail Store

If you run a retail store, you probably know at some level that your software is based on Microsoft Excel or something very similar. You may not know how much of your day-to-day activities are or may be based on Excel.

Foundations

This is what you already expect Excel to do in your store. Nothing spectacular, but it’s worth mentioning the solid basic functionality of the spreadsheet program.

Accounting

It almost goes without saying that your basic accounting software uses Excel to track, process, and verify numbers. It’s simply the best tool for the job, given its ability to perform calculations, display graphs, and gather information from a variety of sources.

Cash terminal Many POS systems around the world use an Excel-based program – essentially a “skin” that overlays an Excel spreadsheet – to generate everything from accurate sales tax calculations to printable receipts.

Inventory

Excel is also ideal for keeping track of the inventory of all items in your store. With Excel’s ability to send an automated email whenever an item becomes low, it’s easy to make sure you have enough stock of all items at all times.

Invoicing

With the help of small templates, Excel can create very professional invoices for a variety of additional services, such as carpet cleaning and other maintenance.

Planning

Excel’s graphing ability makes it easy to display employee hours and get an instant visual representation that will show any gaps or excesses in your coverage.

More interesting goals

Here are some things that Excel can do for you that it probably isn’t involved in yet, but if you think a little outside the box, you’ll see how they can improve your business.

Customer tracking

If your business is small or one that involves frequent repeat visits, it may be worth setting up a customer tracking system that allows your staff to take notes on your customers – the more they’ll feel like you know them. , the stronger loyalty they will feel!

Employee productivity

Whether you track it by the leads they bring in, how well they meet the goals of specific ad campaigns (see below), or just how much money you bring in while they’re running, Excel lets you determine which employees are most valuable to your business.

Ad tracking

Speaking of promotions, Excel can be easily set up to track specific goals and how close your employees—as individuals, groups, or as a whole—have come to achieving those goals.

Projections

Excel’s ability to extrapolate data and predict likely future numbers can help you plan for special events or just regular seasonal changes. With more and more detail in mind, Excel’s ability to create accurate designs keeps getting better.

Sales

Creating sales – discounting your products – is always a risky business. This may bring in enough additional customers to make a profit overall, or it may simply eat away at the profit you’re making. Excel’s ability to create and test scenarios can show you exactly what you need to do to make a sale successful, or when to shut down if it’s not working.

Excel has such a wide range of capabilities, from simple math functions to beautiful templates to advanced extrapolations and scenario testing software, that its ability to assist in almost every aspect of retail sales is unmatched. If you’re not using Excel in your retail store, you might want to see what it can do for you.

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