Finance Management in Retail Business Manager

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In this article, we will review topics related to finance management in the Retail Business Manager Excel Template.

Retail Business Manager Excel Template – Product Page     Support Page

 

VIDEO DEMO

 

Order Related Costs

When we enter the order line items in the Order Details sheet, we are entering the purchase costs of products (in a purchase order) and sales prices of products (in a sale order). We are also entering any product level discounts.

Finance - Product costs
Finance – Product costs

 

Other Charges

In addition to this, any order level charges can be entered in the Order Headers sheet. This will be added to the Total Order Amount. Also, any order level discounts can be entered there. This amount will be deducted to calculate the Total Order Amount.

Finance - Order Level costs
Finance – Order Level costs

 

Entering Payments made

In a sale order when the customer makes the payment, we enter the paid amount in the Order Headers sheet. Similarly, for a Purchase order when we pay the supplier, we will enter the paid amount.

 

Finance - Order totals and Due Amounts
Finance – Order totals and Due Amounts

 

Due Amount will be calculated for each order as (Total Order Amount – Paid Amount). You can filter on this filed to limit the data to only orders which are still due (Filter to values other than 0).

 

Orders that are due
Orders that are due

 

Accounts Receivable and Accounts Payable Summary

We can see the overall current status of accounts receivable and accounts payable in the Report sheet.

Finance - Report
Finance – Report

 

We can also see the aging of the payments due (1-30 days, 31-60 days, 61-90 days, >90 days).

When we choose a specific partner, we can see the financial status.

Finance - Partner Summary
Finance – Partner Summary

 

Operational Expenses

All the other operational expenses not directly related to any one specific order, should be entered in the Expenses sheet. For example, if you buy any stationery for your business or subscribe to any other business service, you can enter those expenses here.

Operational Expenses
Operational Expenses

 

We calculate Net profit as (Gross Profit – Operational Expenses) and display that in the Report sheet.

Finance - Monthly Metrics
Finance – Monthly Metrics

8 thoughts on “Finance Management in Retail Business Manager

  1. This article really helps me to prepare my business accounting. I really find this article very helpful. I will definitely return to this site. Thanks for sharing this article.

    1. Thanks for sharing positive feedback.

      We look forward to working with you in the future.

      Best wishes

  2. This article is a good guide for me. I was able to see and be more knowledgeable about the right computation of the account to be able to manage it properly. I definitely find your site very helpful.

    1. Thanks for your wonderful feedback.

  3. Thanks for sharing these review. I am planning to use Excel now for my accounting. I see here that excel template is good for accounting. I think that these will totally a big help for me.

    1. Thanks

  4. Hi

    How would I structure it if i have differentiated pricing for each of my products/variants i.e. I have 3 categories and offer different pricing for each product to each of those categories.

    For example category A would be a massive customer buying a lot more than B and C and therefore pricing would be a lot lower.

    Please advise how i would structure this in the template.

    regards
    Andrew

    1. Thanks.
      In the Order Details sheet, currently it is set up to pull the sales price for the sales order and purchase price for the purchase order.

      One option is to remove that automated extraction, by removing formula in Unit price column. This would mean we have to manually enter price for every order detail row.

      Other option:
      In the Prices sheet, we have to enter additional columns to store 2 more sales prices. Then, add a new column in Order Details to record the price category. Then the formula for Unit Price in order details has to be modified to pull the appropriate sales price based on price category chosen.

      Best wishes.

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