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Modern invoice template excel for Retail Trade

in this video we'll be covering the different aspects of finance management that is built into the retail business manager excel template so this is our template where I have filled in some sample information already so that we can illustrate the different aspects of Reynolds management here and we are in the settings sheet now and the first thing is to understand how the profit the purchase costs and the selling prices are maintained so we enter the price information here for both purchase and sales price for each product and if the products the prices change over time you can enter a new row by the new effective from date and the template will automatically accept that now this information will be pulled into the order details when you write the line items of each order let's say this is a purchase order you will see that the the the price of the product is automatically pulled from the prices table and then in addition tax and discounts can be handled so this is a product level discount the unit discount and then there can also be order level discounts so when the order table or order headers you will see order discount so this order discount is the discount amount on top of any product level discount for example here the this specific product we are giving a discount of 5 per unit and then this purchase order other than an addition to this unit discount for the product the purchase order also has another additional discount of 10 over all so that's how the discounts can be entered the other charges basically the this is a purchase order so we know the amount before tax and amount after tax on top of that we can also have additional charges so for example this could be a shipping charge on the order so we could enter any additional cost here so in terms of taxes the tax rate is entered here for this order so the all the products in this specific order should have the tax rate applied and so here we can see the tax is getting calculated for this order it's important to understand that if a special that product should not be taxed then you can set that here and say no this means that in the order details it wherever that product appears the tax will not be applied so let's say for example this is M SB L right now we see a tax being applied of 10% for this order but let's say I go here let's find ms bill here there we go and let's say I do not want tax to be applied to this product then I say no I go back here you will see the tax amount to zero out so this is how you can control the tax at the order level but you can also choose specific products to be completely not taxed at all from the products table so we covered taxes and discounts and now the other piece is when payment is made when a payment is made on the order whether it's a purchase order or customer sale where do you maintain it so in the order headers table we see two columns towards the end the total order amount is adding up all the product level prices and costs and then it takes into account the additional charges discount everything and gives you the final order amount and then when somebody makes a payment you enter that here if the payment is made in multiple installments it's still you enter the total amount paid so far here let's take this example this order the purchase order the total order amount is to $9.99 but the payment we have made so far is to nine nine two and so the due amount is seven so let's say we did make a payment to nine nine nine and then now it'll say zero so we don't have any due on that account on that order so in order to filter to the list of orders which are you then you can just select this filter you know so now you can see only the orders when there is a due and it could be both purchase or sale and if you want to restrict only to purchase orders so then you can go here and say purchase orders so all the purchase order with a new amount positive new amount and then similarly all the sale amount where customers are owing you money you can do a filter on sale and then you do a filter on your mod this is how you can easily get to the data on which orders are due and who is due a payment you can also filter on the specific partner name or due date and all this so all of this information is readily accessible for you now the other aspect of this is to see this information reflect in the report so you can see when you go to the report the first sheet shows you the amount accounts receivable accounts payable and then the amount that is current versus about current past due and then you can also see a breakdown of the past due aging it's been up to 30 days past due 60 days 90 and greater than 90 you can see both from the receivable side and the payable payable is the amount that we have to pay to our suppliers receivable is the amount that we are expecting from our customers for our sale orders and then towards the end of this report sheet we also have a section of partner performance where you can choose a specific partner and you can see the purchase or the sale related data for that partner and you can see the past due aging and the amount do you amount current and all of this for one partner at a time now the final part of this is you can also track operational expenses in the expenses sheet we can enter the date and any expense so anything other than the product purchase order amount so for example if you have any expenses around shipping items or stationery or other miscellaneous expenses that you may have in terms of operating your business excluding purchasing of the products because we already are entering the purchase cost of the products in the orders so we don't have to enter them again here but other than that all other expenses you could enter this here and the way this will be reflected is when we go to the report sheet when we look at the total expenses will be captured here in addition we can use that to calculate profit so for example in the monthly metrics you will see the sales amount the cost of the goods sold and then the gross profit is the sale amount minus the cost of goods sold and then the operating expenses is the expenses that we enter here and that will be summed up here net profit will be gross profit minus operating expenses so that is how the net profit can be calculated for our business and this table will reflect up to 12 months and you can customize the date range of this by entering the start and end date and and also you can see the monthly trend of these operating expenses or net profit or gross profit in a visual chart here and the profit will also be summed up for the entire period here in terms of gross profit and net profit so these are the different aspects of Finance management that has already built into this template which are automatically calculated for you to help make the right decisions for the business if there are any questions about the features that we discussed in this video please leave them in the comments and I will be very happy to respond thank you very much for watching this video