As its many users know, Sage 50 doesn’t keep a record of historic stock prices and consequently it is not possible to use Sage 50 stock data either to assess current stock values or to calculate gross margin on sales.
This is because Sage 50 only records the most recent price paid per item of stock purchased. It then applies that price to the total holding of that item even if that includes stock purchased at an earlier date and at a different price.
Managing stock purchase data manually to create a workable method for calculating stock value is complex and very time consuming. So frankly, almost no-one does it.
Octelas helps solve both issues because it keeps a separate record of the cost of each item purchased and uses this data, and not the Sage 50 cost price entry, to calculate gross margin on sales.
In other words, Octelas business reporting software takes a “snapshot” of the cost price of stock on the day it is entered into Sage 50. That cost price is then matched to each item of stock as it is sold and the data used to calculate the gross margin on each sale as it occurs.
Octelas business reporting software will take over the burden of managing your business data, giving you all the information you need, when you need it, completely automatically. Leaving you free to focus on the bigger picture.
With Octelas one click reports on your phone, PC or tablet every day, you can stay right on top of all your business issues.
At Illuminis, we understand the data needs of SMEs. We have helped them access and manage their data for many years.
We know that there is very little advice available to the average SME business on how to use its business data to increase profits and grow.
So we designed Octelas business reporting software especially for SMEs: it is simple to use; cost effective and installed in just a couple of days. Typical return on investment is 6 months and the monthly access fee includes access to our team of data analysts. Think of it as having your own, in-house data analyst on tap at all times to help you get to the exact reports you need, in one click.