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Frequently, mistakes are made in the beginning. In order to begin using the system, we hurry to put in our inventory. Often over looking key information that should be included.
Later we find out that because a cost was not entered, the system can't inform us of the profits, or because no departments were specified the system can not report what percentage of our sales came from 'clothing' or 'tools'. Purchasing is a much easier task if a vendor is specified while entering your start up inventory. These common mistakes can cost you many hours of time to correct. It lessens the softwares ability to provide you with information to help you make pricing and buying dicisions.
Play with the system. Add a couple of items and customers. Get a feel for the process of entering a sale and printing a receipt. Receive some quantities to the products you've added. Print a inventory master listing.
Review the master control settings. There are hundreds of features effecting the way the Smart Retailer operates. These features can be turned on or off in any combination. This allows you to customize the softwares operation to best fit the way you want to do business.
The 80/20 rule applies to most businesses. Use it to your advantage. Simply stated, 80 percent of your sales come from 20 percent of your inventory. Conversely, 20 percent of your vendors represent 80 percent of your inventory.
Before thinking inventory, think vendors and departments. Why? Vendors are used while purchasing. If the computer knows the particualar products you purchase from a vendor, purchasing will be a lot easier. Departments are used to organize and group your businesses main profit areas. They are also used in the reporting of sales and profits.
Make a list of your top 10 or 20 vendors and departments. Assign a unique three character code to each. Use numbers or letters.
Add your vendors and departments first, then add your products. Make sure you record the cost, department, and vendor as well as the sku, description and price for each item. This should put you in a good position to start using the point of sale, purchasing, and reporting subsystems.