Excel Formula To Figure Out Hours From A Time Span 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 realize how many of your daily activities are — or could be — based on Excel.

basic

These are things you’d expect Excel to already be doing around your store. Nothing jaw-dropping, but the spreadsheet program’s solid basic functionality is worth mentioning.

Accounting

It’s almost a given that your basic accounting program uses Excel to track, manipulate, and test numbers. It’s just the perfect tool for the job, offering the ability to calculate, display graphs, and gather information from a wide variety of sources.

point of sale Many POS systems around the world use an Excel-based program – essentially a ‘mask’ that goes into an Excel spreadsheet – to generate everything from accurate sales tax calculations to printable receipts.

List

Excel is also perfect for tracking inventory of all items in your store. With Excel’s ability to send an automatic email when a particular item is low, it’s easy to ensure you always have enough stock of all items.

Invoicing

With a little templating, Excel can produce many professional invoices for your various secondary services such as carpet cleaning and other maintenance.

Schedule

Excel’s graph-building capabilities make it easy to keep employee hours and get an instant visual representation showing any gaps or overages in your coverage.

More interesting objectives

Here are some things that Excel might be doing for you that it’s not already involved in – 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 brings in frequent repeat visits, it may be worth your while to set up a customer tracking system that gives your employees the ability to take notes about your customers — the more you feel like you know them. , the stronger loyalty they will feel!

employee performance

Whether you track it by the tips they bring in, how they meet the goals of specific promotional drives (see below), or how much money you bring in while they’re working, Excel gives you the power to identify what’s going on. Employees are the most valuable asset to your business.

Promotional tracking

When it comes to promotional drives, Excel can easily be set up to track specific goals and how close your employees—individually, as a group, or as a whole—are to meeting those goals.

assumptions

Excel’s ability to extrapolate data and project possible future numbers can help you plan for special events or regular seasonal changes. Given more and more details, Excel’s ability to create accurate projects gets better and better.

sales

Generating sales – let alone your business – is always risky business. This may bring you enough additional customers to make you an overall profit, or it may take away from what profit you are making. Excel’s ability to craft and test scenarios can show you what needs to be done to make a sale a success — or pull the plug when it’s not working.

Excel has such a wide range of capabilities, from mundane mathematical functions to beautiful templates to advanced extrapolations and scenario-testing software, that its ability to support almost every aspect of retailing is unparalleled. If you are not using Excel in your retail store, perhaps you should see what it can do for you.

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