Which orders bring in the most profit?
How many dollars are being discounted?
Which employee gives the most discounts?
The answers are just a click away with the Work Order Report Sorted by Category. Three reports are compiled for you (based on any date range) which provide a wealth of information to help you know your strengths and increase your sales!
This report will let you know trends in your business and also point out which type of artwork is bringing in the highest dollars. The items listed under Category are selected on the Work Order screen by clicking on the word Artwork button beside where the title/description is entered. All Estimates and Gallery work are omitted from this report. These work orders may or may not have been posted to an invoice.
HOW TO PRINT:
- Go to Main Menu > Work Orders (salmon section) > Reports.
A dialog box appears.
- Click Created or Completed.
You may choose your report based on when orders were completed (all work orders marked complete) or created (sorted by creation date).
- Enter a date, or date range, or leave as preset (today’s date is automatically entered).
- Click Proceed.
The Report Sorted by Category is one of three valuable reports that follow.
This report really only works if you are filling in the Artwork field on the work order. This is a customizable field which should be edited on the fly. Instead of just choosing ‘artwork’ you should be more detailed by giving the piece a generic description; giclee, poster, photo, map. See this article for full details. This is perhaps one of the most under-utilized fields, with the most potential, in FrameReady.
How to read the report and what it tells you
The Category column identifies the different type of items which we framed this week. If we had been running an ad highlighting our framing of posters, I would want to watch for the category poster to appear on the list. If it never appears on the list, I would give the advertising space to something that was generating profit and sales for us.
Total Pieces: i.e. the majority of items we framed were prints. If the Total Orders for prints was 1 instead of 4, that would indicate that one person brought in four prints to have framed.
Total Sales: If the report stopped here, I would believe that prints were the real money maker for us. Since that is what we framed the most and generated the highest number of dollars.
Average Unit Price: However, since the highest price per unit (average) was from Limited Edition prints, it would be more profitable for us to encourage sales in this area.
Discounted Dollars: The item which generated the most sales was also the item which was discounted the most.
No of UI per Order (size): The largest items framed were photos and the smallest were etchings. Sometimes we look at a large item and think, ‘that was a good order’ assuming that a high price is attributed to a large size. The truth is told in the next column.
UI Price per Order (money): We generate the most profit per united inch on L/E prints; our best money maker this week.
Interpreting the report can tell you a lot about your business. In this case, we framed 4 prints (total pieces) from a variety of customers (total orders 4) from which we received the most income. However, it was also the highest discounted item (Dollars Discounted) averaging $86.21 per piece. The largest items we framed were photos and the smallest were etchings (No of UI per Order). Our most profitable items framed were the L/E prints which generated $14.54 per UI (Average UI Price per Order). Our least profitable was the pencil drawing and two Certificates which generated less than $3 per UI.
To see how you can make better business buying decisions based on the information in the Work Order Sales report based on the artwork category field download this helpful document with the graphics.