Whether you’re running a cosmetics chain or an online store, tracking the movement of products in your business is critical. If you are on our Plus and Advanced plan, we have great news for you! We’ve revamped the Product Sales table under Analyze and added additional tables that focus on purchases and inventory on hand.
Let’s explore what this means.
Product Sales Revamped
To view your product sales, navigate to Analyze > Sales > Products. In the Sales table, you’ll see we’ve overhauled the old table and replaced it with a sleeker, more streamlined version.
We’ve added a few new metrics, such as average revenue and gross profit margin %, and moved some of the old metrics to the new Purchases table (more on that later).
We have also given you the ability to add columns within metrics with the “+” button – and you can remove columns too. For example, you might want to include a tax column to view the tax impact per product for the period.
The way your metrics are grouped together has also been simplified to make it easier to focus on what matters most, and you can easily filter columns with the funnel icon, making it a slick, hassle-free experience.
Meet the All New Product Purchases Table
The brand-new product purchases table empowers you to see all the inventory you have bought, within the period of time specified. This information pulls through directly from your underlying accounting provider.
You can easily view the quantity of stock and make comparisons to the prior period and prior period last year. And you can easily keep tabs on the suppliers you use.
Terminology check ✅: 1 unique supplier simply means you only purchased this product from one supplier.
As always, if you’d like some more information, you can click on the relevant number to drill down into the nitty-gritty details, such as the unit price, net amount, and tax.
Note 📝: The cost of purchase will be what you determined it to be in your underlying provider (cost price), individually per product and the total purchase value is the quantity bought multiplied by the cost of purchase.
You also have the option to group your metrics according to certain criteria.
Plus, at the top of every screen, you can see summary cards, summarizing the contents of the table.
Multi-Period View
To make this table even more powerful, you can switch to the multi-period view. This empowers you to hone in on a specific metric and view it over an extended period of time – going up to 24 periods.
Pro tip 💡: You can also change from a numeric view to a percentage view to get another perspective. Which is cool because you can see your product mix showing which products drive the biggest share of revenue.
Inventory on Hand
This is another brand-new table under Products, which enables you to track the inventory you have on hand. Here, you can see a summary of what’s happening in the inventory department, including how much stock you have available at the end of the period. You can also dive into the details of:
How much a unit costs
Average sales value
Average sales value
Average sales quantity
Average age of the stock
Stock days: how much stock you currently have and how long will it take until you are out of stock, based on your quantity on hand and average sales quantity
Note 📝: To see inventory on hand in Syft, you need to have marked the inventory as a tracked item in your underlying accounting software.
Want more information? You can drill down into the underlying invoices to see what you have sold and when. You will then be able to see as inventory reduces and what the balance of the quantity remaining is. You can group this view by contact or transaction type (i.e. invoice, bill or spend money).
Multi-Period View
You can also access a multi-period view to analyze inventory on hand across a maximum of 24 periods. You can also filter your products alphabetically to easily keep track of them.
Important to Note
A few key things for you to note about these new tables:
You can also use Product tables for consolidated entities – to see the full view of products across the whole group.
You can add these tables to report packs to analyze alongside other operational and financial reports.
Due to some limitations, the Inventory On Hand table will not be available on all accounting providers.
Closing Thoughts
With these enhancements to our Product tables, you now have a comprehensive view of your business's lifecycle – from the moment you purchase stock to the final sale and every day it spends in your warehouse in between. By bridging the gap between your accounting data and actionable insights, these tools take the guesswork out of ordering and sales strategies. Now’s your chance to explore these new tables and start turning your product data into your greatest competitive advantage.