A Comprehensive Guide to Your Financial Overview #
Hello, shopkeepers! Keeping a firm grip on your store’s financial pulse is vital for success, but it can sometimes feel like juggling too many numbers. That’s where the Financial Overview Dashboard, a key part of Ficos’ Store Insights toolkit, steps in to make your life easier. It consolidates critical metrics and insights into one clear, dynamic view, helping you make smarter business decisions.
Let’s explore how to access this powerful tool, dive into its features, see practical ways to use it, and uncover the actionable advice it offers to help you boost profitability and streamline your operations.
How to Access the Financial Overview Dashboard #
Getting to your financial command center is straightforward:
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From the Home Screen:
- On your Ficos app’s home screen, find the dashboard section labelled ‘Today’ (showing Orders, Revenue, etc.). Just below it, tap the ‘View Analytics’ link.
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Navigate to the Insight:
- This will take you to the Store Analytics page.
- On the Store Analytics screen, look through the list of available insights and tap on ‘Financial Overview’.
Once inside, you’ll find a comprehensive breakdown of your store’s financial performance, with the flexibility to view data across different timeframes!
Why Financial Insights Are Important #
Running a store based purely on gut feeling can be risky. While intuition is valuable, relying on it alone can lead to missed growth opportunities, unexpected cash flow crunches, and hidden inefficiencies.
The Financial Overview Dashboard puts you firmly in the driver’s seat. It provides a detailed picture of your store’s health, answering critical questions like:
- How have my sales and profits trended over the last week, month, or longer?
- Which product categories are my true profit drivers?
- Are my expenses getting out of hand in any specific area?
- Is the cash coming in faster than it’s going out?
- Am I collecting customer payments effectively?
- How quickly is my inventory selling, and what’s sitting on the shelves too long?
With this information readily available, you can confidently shift from guesswork to informed, data-driven strategies.
What Is the Financial Overview Dashboard? #
Think of the Financial Overview Dashboard as your store’s financial health check-up. This intuitive tool analyzes and displays your key financial metrics. You can easily switch between viewing data for the Last 7 Days, Last 30 Days, Last 90 Days, or the Last 180 Days.
From sales trends and profit deep-dives to expense tracking, inventory efficiency, cash flow visibility, and VAT summaries, this dashboard brings together a wealth of data. It simplifies complex information into easy-to-understand visuals and actionable insights, comparing your performance against the previous equivalent period. It’s like a financial co-pilot, guiding your business decisions.
Breaking Down the Key Features #
The dashboard is packed with valuable information, organized into clear sections:
1. Financial Snapshot & Key Metrics (Your At-a-Glance View) #
Get a quick overview for your selected timeframe (7, 30, 90, or 180 days):
- Net Sales: Your total revenue (excluding VAT) after returns and discounts.
- Gross Profit & Margin: How much you made after accounting for the cost of the goods you sold (COGS). The margin shows this as a percentage of sales.
- Net Profit & Margin: Your true bottom line after all expenses (including direct costs, loyalty points redeemed, and customer returns) are deducted from Gross Profit. The margin tells you how much profit you keep for every dollar sold.
- Net Cash Flow (Estimated): Tracks the movement of actual cash – comparing money collected versus money spent on direct expenses and supplier payments. See if you’re cash positive for the period!
- Performance vs. Previous Period: See handy percentage changes for key metrics like Sales, Profit, and Cash Flow compared to the last period, showing you if you’re improving.
- Average Order Value (AOV): How much customers spend on average per transaction.
- Average Profit Per Order: Understand the typical profit generated by each sale.
- Purchase Frequency: How often customers are buying within the period.
- Return Rates: See the percentage of sales value and order count being returned.
- Expense Ratio: Understand what percentage of your sales revenue is going towards expenses.
- Break-Even Sales (Estimated): Get an estimate of the sales needed to cover your costs.
- Working Capital (Estimated): A snapshot of your operational liquidity (based on receivables, inventory value, and payables).
2. Performance Trends (Visualize Your Journey) #
Go beyond static numbers! See how your key metrics have performed day-by-day over your chosen period with clear line charts:
- Sales Trend: Watch the daily ebb and flow of your revenue.
- Net Profit Trend: Track your daily profitability.
- Total Expenses Trend: See how your daily spending changes over time.
- Net Cash Flow Trend (Est.): Visualize your daily cash position.
3. Profitability Deep Dive (Where Does the Profit Come From?) #
Understand profit drivers:
- Profitability Breakdown Chart: A simple bar chart visually comparing your Sales, COGS, Gross Profit, Expenses, and Net Profit.
- Profitability by Category: Discover which product categories are your biggest money-makers! See profit, margin, and sales for each category, sortable and easy to browse. Includes a chart highlighting top category contributions.
- Top Profitable Products: Identify your star performers – the specific products generating the most actual profit. See their profit, margin, and quantity sold.
4. Expense Analysis (Keep Costs in Check) #
- Expense Details: See a list of your expense categories and how much you spent in each. This clearly includes direct expenses, loyalty points redeemed, and customer returns for a complete picture.
- Expense Category Breakdown Chart: A handy pie chart showing which expense categories take up the biggest slice of your spending.
- Total Expenses vs. Previous Period: Track if your overall spending is increasing or decreasing.
5. Accounts Receivable & Payable (Manage Your Money Flow) #
Get crucial insights into money owed to you and money you owe:
- Accounts Receivable (AR): See the total amount customers owe you, broken down by aging: 0-30 days, 31-60 days, 61-90 days, and crucially, Over 90 days. Helps you prioritize collections!
- Accounts Payable (AP): Track the total amount you owe suppliers, also broken down by the same aging periods. Helps you manage payments effectively.
6. Inventory Insights (Optimize Your Stock) #
Manage your inventory more effectively:
- Inventory Value: See the total value of your stock at both cost price and selling price.
- Inventory Turnover Ratio: Measures how quickly your inventory is selling relative to its cost.
- Days Sales of Inventory (DSI): Estimates how many days it typically takes to sell your current inventory – a key efficiency metric!
- Slow Movers: Identifies products selling less frequently during the period, showing stock levels and units sold. Helps pinpoint stock that might need a push.
- Fast Movers: Highlights your best-selling products during the period, showing stock levels and units sold.
7. VAT Summary (Simplified Tax Overview) #
For businesses tracking VAT:
- VAT Calculation: See a simple summary of VAT collected on sales, VAT refunded on returns, and VAT paid on purchases.
- Net VAT Position: Shows an estimated net amount payable to or refundable from the tax authorities based on the period’s transactions. (Note: Always consult your accountant for official filings.)
8. Customer Behavior Snippets (Know Your Shoppers) #
Integrated within the Key Metrics section:
- Total Customers: Unique buyers during the period.
- New Customers: How many first-time buyers you attracted.
9. Actionable Insights (Your Personal Business Advisor!) #
Based on your store’s specific data for the selected period, the dashboard provides tailored suggestions and observations. Examples might include:
- Pointing out if sales are below your estimated break-even point.
- Highlighting low profit margins and suggesting areas to review.
- Alerting you to significant drops in sales or profits compared to the last period.
- Warning about negative cash flow trends.
- Flagging overdue customer payments (AR > 90 days) needing urgent attention.
- Suggesting action on very slow-moving inventory (high DSI).
- Identifying categories with low margins for potential review.
Think of it as having a helpful advisor point out what needs your focus!
Practical Use Cases #
These features unlock many ways to improve your business:
1. Strategic Planning with Timeframes #
Switch between 7, 30, 90, and 180-day views to spot short-term fluctuations versus long-term trends. Use the longer views for bigger picture strategy and the shorter views for immediate operational adjustments.
2. Sharpening Profitability #
Use the Category and Top Product Profitability sections to double down on what works. Promote your high-profit items and categories. Re-evaluate pricing or costs for low-margin ones identified by the dashboard. Check the Break-Even estimate to set realistic sales targets.
3. Proactive Cash Flow Management #
Monitor the Net Cash Flow trend. Use the AR Aging report to chase overdue payments promptly. Use the AP Aging report to plan your outgoing payments and maintain good supplier relations.
4. Smarter Inventory Control #
Use DSI and the Slow Movers list to identify stock tying up capital. Run targeted promotions or bundle slow items. Use the Fast Movers list to ensure you don’t run out of popular items.
5. Pinpointing Expense Issues #
Regularly check the Expense Breakdown chart and details. If the Expense Ratio is high or specific categories are creeping up, investigate cost-saving opportunities as highlighted by the Actionable Insights.
6. Understanding Growth & Customer Value #
Track AOV and Profit per Order trends. Are marketing efforts bringing in valuable customers or just more transactions? Monitor New vs. Total Customers to gauge acquisition success.
Actionable Insights: Let the Dashboard Guide You #
The real power lies in acting on the information. The dashboard doesn’t just show data; it helps you interpret it:
Focus Based on Insights #
Pay attention to the Actionable Insights section. It’s designed to draw your eye to the most critical areas needing attention based on your current performance.
Revenue Growth #
Use Trend charts and Profitability sections to identify winning streaks and dips. Promote top categories/products; analyze and address declines.
Expense Management #
Act on insights about high expense ratios or specific category costs. Renegotiate supplier terms or find efficiencies where the dashboard suggests looking.
Inventory Efficiency #
Follow suggestions related to high DSI or slow movers. Clear out old stock strategically to free up cash and space.
Financial Health #
Address warnings about cash flow, break-even points, or overdue AR/AP proactively.
Additional Resources #
- Understanding the Financial Overview Report (Guide)
- Days of Inventory Remaining Report
- Managing Customer Debts (AR)
- Tracking Expenses Effectively
Conclusion #
The Financial Overview Dashboard in Ficos Store Insights is an indispensable tool for understanding and improving your store’s financial health. With flexible timeframes, deep dives into profitability and expenses, clear trend visualizations, crucial cash flow and inventory metrics, and tailored actionable insights, it empowers you to make smarter, data-driven decisions with confidence.
Ready to take control of your finances? Explore the Financial Overview Dashboard in your Ficos account today and see how these powerful insights can transform your business management!
Frequently Asked Questions #
How can I get started with the Financial Overview Dashboard? #
To get started, log into your Ficos account. On the home screen, tap the ‘View Analytics’ link below the ‘Today’ dashboard summary. This takes you to the Store Analytics page. From there, select ‘Financial Overview’ from the list of insights. Review key metrics like sales, net profit, and expenses using the different time period tabs (7d, 30d, 90d, 180d). For more details, check out the Financial Overview Report Guide.
What time periods can I view in the dashboard? #
The dashboard offers flexibility! You can easily switch between viewing your financial data for the Last 7 Days, Last 30 Days, Last 90 Days, or Last 180 Days using the tabs at the top. This allows you to analyze short-term performance and long-term trends.
What are some key metrics included? #
The dashboard includes valuable metrics like Average Order Value (AOV), Average Profit per Order, Purchase Frequency, Return Rates (by value and count), Days Sales of Inventory (DSI), estimated Break-Even Sales, and estimated Working Capital. It also provides a VAT position summary.
How does the dashboard help with profitability analysis? #
It lets you see profitability breakdowns by Product Category and identify your Top Profitable Products. This helps you focus marketing and inventory efforts on items that contribute most to your bottom line. Trend charts also show how your Net Profit changes daily.
Can the dashboard help with cash flow management? #
Yes, significantly! It tracks Net Cash Flow trends daily and provides AR and AP aging reports. Seeing how long payments are outstanding (0-30, 31-60, 61-90, >90 days) is crucial for managing collections and payments effectively. The dashboard also provides tailored insights if cash flow issues are detected.
How does the dashboard assist with inventory management? #
Beyond turnover, it calculates Days Sales of Inventory (DSI) to estimate how long stock sits. It clearly lists Slow Movers (products selling infrequently) and Fast Movers (top sellers) for the period, helping you optimize stock levels and run targeted promotions. Actionable insights may also flag inventory issues.
Can I see performance trends over time? #
Absolutely! The Trends section shows daily line charts for Sales, Net Profit, Total Expenses, and Net Cash Flow over your selected period (7, 30, 90, or 180 days). This helps you visualize performance patterns.
What actionable advice does the dashboard offer? #
The dashboard analyzes your specific data and provides tailored suggestions in the “Actionable Insights” section. It might flag things like sales falling below break-even, declining cash flow, very slow inventory, overdue receivables, or low-margin categories needing review.
How does the dashboard support expense tracking? #
It breaks down expenses by category with amounts and percentages, visualized in a pie chart. Total expenses clearly include direct spending, loyalty points redeemed, and customer return values for a complete picture. You can also track the daily expense trend.
How often should I review the Financial Overview Dashboard? #
Check the 7-day view perhaps daily or every few days for immediate trends. Review the 30-day view weekly for operational monitoring. Use the 90-day and 180-day views monthly or quarterly for strategic analysis and identifying longer-term patterns. Always check the Actionable Insights!
Does the dashboard help with VAT calculations? #
Yes, it includes a dedicated VAT Summary section. It shows VAT collected on sales, VAT on returns, and VAT on purchases for the period, calculating an estimated Net VAT Position (payable or refundable). Remember to consult your accountant for official reporting.
Understanding your store’s financial metrics is one thing, but taking clear, effective steps to enhance profitability and operations is the real goal. The Financial Overview Dashboard provides rich data, clearer visualizations across multiple timeframes, and tailored advice based on your performance. From spotting trends and managing cash flow with aging reports to optimizing inventory with DSI and focusing on true profit drivers, Ficos empowers you to turn deeper insights into impactful actions. Let us help you drive smarter decisions and achieve sustained growth!
What our clients say #
I have managed to track my expenses better and been able to budget and plan better
Nayebare Jenuario #
★★★★★Business has never been managed better on an app than with Ficos! No hardware costs, no implementation costs, the LOWEST cost of ownership and business intelligence at your finger tips! Thx Ficos team
Fort High #
★★★★★Excellent app Very useful for business
Christian TABARO #
★★★★★How it Works #
Step 2: Setup your Store #
Complete your store profile, setup your products and start selling.
Step 3: Thrive & Excel #
Enjoy smoother operations, reduced costs, and increased profits for effortless success.
