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TOP 10 REPORTS THAT HELP MANAGERS TAKE BETTER DECISIONS

Reports are great management tools. They help managers to have an overview of the business and make sure that everything is in place. While a Financial Report gives an insight into the financial health of the business, a payroll report provides insights about how human resources are being managed by the company.

Though there are a number of reports that can be generated based on a bucketful of KPIs, some reports lead the way in terms of their utility and importance.

Take a look at the top 10 reports that help you make better decisions! Let’s say you are a manufacturing company based out of Punjab and are looking for ways to cut down on overhead costs. These reports will provide you crucial insights to enable you to do so!

1. Expense Report:

Provides details about the type and amount of expenses that have been undertaken in a company over a specified period of time. It varies from one department to another. For example, an Expense Report under Material Management would include details like expenses related to freight transportation, labour cost, etc.

2. Department Reports:

Such reports give an overview of the functioning of every department as a whole and metrics related to their performance. This helps to identify avenues of high performance and improvement.

3. Inventory Report/Stock Balance/Stock Valuation:

An inventory report gives an account of the type, number, and value of raw goods that are present at the company warehouses at any given point. They also notify about the production and storage of finished products over a period of time.

4. Employee Master Report:

These give an overview of the human resource department and all the employees that are working at your company. This usually includes employee details like Name, D.O.B, D.O.J, phone, email, salary, etc.

5. Leave Report:

Helps the managers to keep all internal projects of the company on track by keeping an eye on the leave that the employees are taking. Moreover, these also help in generating the month remuneration details that the employees will draw from the organization.

6. Salary Report:

Another crucial HR report, this provides a details overview of the salaries that the employees are drawing from the company.

7. Project Report:

A basic tool for efficient project management that gives information about the types of projects that are ongoing at your company. It contains details like project ID, project name, customer details, relevant quantity or amount, etc.

8. Sales Report:

A powerful report for the marketing departments that gives an account of the sales process and the revenue that is being raked in as a result. It usually contains the details of all the sales that have been made over a period of time and the clients that are associated with them.

9. Tax Report:

An internal company tool that contains calculated details about all the taxes that the company is liable to pay over a period of time.

10. Accounting Report:

A powerful tool for the Finance Department that provides details about the financial health of the company on a monthly or annual basis.

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