The Inventory on Hand report, located in the Inventory section of reports, provides valuable insights about your retail products.
If you’ve:
chosen to track inventory and
you’ve entered costs for the items you’re tracking,
you’ll be provided information on the inventory count for each item and the value of those items.
For example, let's say you have branded t-shirts:
You have 10 left in stock at your studio
The cost of each shirt is $10
Therefore, the value of the “Inventory on hand” is $100, or the number of t-shirts left in stock times the cost of those t-shirts, or 10 shirts * $10 = $100.
Columns that are unique to this report are:
Current Inventory - the amount of inventory of the variant across the selected studios
Current Price - the price set on the product OR variant level if location-based pricing is enabled
Current Cost - The price that is set on the product OR variant if location-based pricing is enabled. Note: this always reflects the current cost. If the cost has changed at any time, it reports the current price
Inventory Value - this is a calculation of Current Inventory * Current Cost
Additional details about this report include:
The date always defaults to the current day and uses a single day picker
It only displays items with the “Track inventory” box checked on the product variant
Previous date reporting uses the end of the day to report metrics - 11: 59:59 pm local time
Location information for each variant is limited to the locations where an employee has been granted access. For example, if a business has 3 locations and an employee only has access to a single location, the other 2 locations' inventory information will not be available in this report.
Pairing the Inventory on Hand report with the Cost of Goods Sold report provides valuable insights into the items that are most profitable and perhaps just as important, which items should not be reordered.