Are you a convenience store owner? Do you sell a vast number of products and lottery tickets? If yes, then you will require an enormous amount of data regularly for streamlined operations in your store.
And, how can you get this data?
With proper reporting and analytics, you can get all of this data. The Daily Sales Report further helps you in making data-driven business decisions, ensuring proper stocking of products, promoting your store well, managing all regulatory compliances, improving profitability, and offering a better shopping experience.
Now the question is, what do you need for proper reporting and analytics of your C-Store?
For proper reporting and analytics data, you require the best C-Store back office software for gas stations and C-Stores. Surprisingly, Hisably can help. The software offers the key reports for your C-Store or gas station, such as lottery reports, gas reports, and business reports. Inside these reports, you will find various other crucial reports like sales reports, inventory reports, and more that can make your business operations streamlined.
In this blog, we will walk you through all the essential reports for managing your convenience store at its best.
Without waiting much, let’s get started.
1. Lottery Report
Hisably is a popular C-Store back office software that offers an extensive range of lottery reports to help you manage your convenience store without any hassle. Let us look at all of these reports in detail.
Sales and Paid Out Report
The lottery sales and the paidout report are especially financial reports highly beneficial for convenience stores and gas stations selling lottery tickets. The report tracks and summarizes all the transactions about the sales of the lottery tickets as well as the prize payout done to the winner.
Lottery Commission Report
A lottery commission report is basically a document that offers you all the details about the commissions obtained by the retailers or businesses selling lottery tickets on behalf of government-operated lottery organizations. The commission amount depends on the state, type of ticket, and prize amount.
The report is highly crucial for the businesses selling lottery tickets and the government authorities because it helps to maintain transparency between both parties. It even enables the retailer to monitor their earnings and help government organizations in building healthy relationships with the retailers.
Lottery Monthly Report
This is a document that offers detailed information on the overall performance and activities done by a lottery management business for the entire month.
Firstly, it offers a sales breakdown of all the lottery tickets sold in the month. It includes total tickets sold, ticket prizes, and total revenues obtained from the particular game in the month. Moreover, you can view various metrics such as Sales Instant, PaidOuts Instant, Credits Sale, Debits Sale, Sales Online, PaidOuts Online, and more.
Secondly, you can also view the detailed prize analysis. It includes prizes awarded to lottery winners, prize amounts, lottery games linked with each prize, and prize claim dates. It even shows you all the unclaimed prizes (prizes not collected by lottery winners).
Apart from this, the lottery monthly report even offers retailer commissions, expense analysis, gross revenue, and more.
Lottery Summary Report
It showcases the lottery sales performance over a particular time. The lottery summary report comprises four crucial things:
- Lottery summary report (daily report)
- Lottery summary (from settlement)
- Lottery cash flow
- Lottery cash balance
Lottery Inventory Report
The lottery inventory management helps the C-stores or gas stations in selling lottery tickets or any other kind of activity. The primary purpose of the document is to showcase the overall status and the performance of the lottery tickets and games.
Here are different things available inside the lottery inventory report:
Inventory Tracking
It allows you to keep an eye on the total number of active and inactive lottery tickets or books in your C-Store or the gas station by counting lotteries. It even allows you to add new tickets by scanning them. In addition, you can even view various details about the lottery tickets, such as the game number, game name, and value.
Lottery Inventory History
The software allows you to view the total number of lottery books sold in a particular interval of time. You can just select the date range, and the cloud-based software shows you all the entries.
Financial Control
When you have proper inventory in place, you can have control over the finances. It means you know exactly the revenue generated from the ticket sales and the tickets sold.
Regulatory Compliance
Various jurisdictions have rules and regulations regarding the operations of the lotteries taking place. The lottery inventory report helps you to deal with any of the regulations.
Security
Lottery inventory data is highly crucial, and it should be managed well to prevent any type of lottery theft, fraud, or unauthorized access. The inventory report enables track and manage the security of the inventory.
2. Gas Report
Hisably is one of the best back office software for gas stations to manage various reports. It includes the daily report, differential report, and profit & sale report. Let us look at these reports in detail.
Gas Daily Report
The daily report is a document that enables you to manage various essential details of the gas station, such as the gas type, volume, revenue, price, tank reading, total revenue, and gross total.
Gas Differential Report
The gas differential report shows the total gas left after the sale and the leakage. The gas stations need this report as they have to send it to the government authorities on a regular basis.
Gas Profit/Loss Report
The profit and loss report is nothing but a financial document that showcases the revenue, costs, and profitability of a gas station for a particular period of time. It could be day, week, month, or year. The report enables the gas station to monitor the overall financial performance of the gas station and then make data-driven decisions for the business.
Here is the list of things that are available in the Gas P&L report:
Revenue
It showcases the revenue generated from selling gas. Apart from this, it highlights the revenue from other sources, such as store sales, car wash services, etc.
Cost of Good Sold( COGS)
It includes the expenses linked with the selling of gas and other products. It also comprises the expense of buying gas from the suppliers, credit card processing fees, and various other expenses with the product sold.
Gross Profit
It is calculated by removing the COGS from the overall revenue.
Operational Expenses
These include the overall expenses that are involved in running a gas station daily.
Net Profit & Loss
It has been measured by subtracting the overall operating costs from the gross profit. In simple terms, the overall profit of the gas station by removing all the expenses.
Income Taxes
It comprises the tax liability of the gas station over the government.
3. Daily Sales Business Reports
Apart from the gas and the lottery report, Hisably also provides you with various essential business reports. Let us go through them in detail.
Daily Business Report
Hisably offers a detailed daily sales business report regardless of the convenience store or the gas station. The business report comprises date, shift, net sales, gross sales, gas sales, meal tax, gross sales, and more.
Profit/Loss Report
A profit and loss report is well-known as the income or the financial statement that outlines the overall revenues and expenses of a convenience store or gas station for a particular period of time. Here are the things available in a P&L report.
Revenue
It includes the sales of goods and services and income from other resources.
Expenses
It consists of all the expenses like costs of goods sold, rent expenses, operational costs, taxes, advertising expenses, depreciation costs, and more.
Net sales
The net profit is measured by subtracting all the expenses from the revenue.
Cash Flow Report
A cash flow statement is a financial report that shows how much cash a convenience store or gas station has generated or used over a specific period. It provides insights into the store’s ability to meet its financial obligations and make investments. The statement is divided into three sections: operating activities, investing activities, and financing activities.
Our cloud-based software offers a cash flow statement, one of the most valuable financial documents for a convenience store or a gas station. It helps to determine whether the C-store or gas station has enough cash to pay dues and invest in liquid assets. The report enables you to manage your finances by monitoring where your cash is flowing.
The cash flow statement helps you to know all the sources of cash and the inflow and outflow of the cash. The inflow of cash includes three things:
- Operating activities (day-to-day operations)
- Investing activities ( collecting all the assets)
- Financing (debt and equity financing)
The outflow of the cash includes expenses in business, and all the investments done over time. Ultimately, the cash flow report is necessary for any C-store or gas station to make effective decisions that help them to grow.
Purchase & Expense Report
Hisably is such a cloud-based software that it even provides purchase and expense reports for the C-store or the gas station to record and track all the purchases and expenses going on with the business.
In the purchase report, you will view various details, such as the purchase date, vendor, department, invoice number, amount, due date, payment status, action, etc. In the expense report also, you will be able to view similar kinds of details.
The primary purpose of the purchase and expense report is to manage all of your costs, decide the right budget, and increase the profitability of your C-Store or gas station.
Conclusion
We hope you have understood the key reports that you require to manage your convenience store or gas station efficiently.
All the reports that we have discussed in this blog, such as the lottery report, gas report, and business report, help you streamline various things in your store and manage your store at best. Also, using the automation technology in C Stores operations can increase profitability in the long run.
Lastly, Hisably is a cloud-based software that is already being used by a vast number of C-Stores and gas stations in the USA. Hence, you can definitely go with Hisably to manage your convenience store or gas station in the best possible manner.
