Quickbooks Retail is another industry specific edition that Quickbooks have. This is mostly used for retail business. There are pre-defined reports that can only be accessed through this edition aside from accountant edition.
These pre-defined reports can help you track whether your business is profitable or not.
Here are some of the reports:
- Profit and Loss Monthly Comparison report - This report shows a comparison of profit and loss this month and last month. You can access this by going to Reports > Retail Reports > Profit & Loss Monthly Comparison.
- Track returns by vendor - This report shows the items being returned by the vendor. You can see either the highest or lowest return activity. You can access this report by going to Reports > Retail Reports > Vendor Returns (Summary or Detail).
- Track purchase volume by vendor - This report shows the total purchase volume per vendor. By looking at this report, you would know to whom you buy most of your supplies. You can access this report by going to Reports > Retail Reports > Purchase Volume by Vendor.
- Review gross margin by inventory item - Gross margin by inventory item report is only available in Retail, Accountant and Enterprise editions. This report shows the list of inventory items with its % of Sales, COGS and Gross Margin. You can access this report by going to Reports > Retail Reports > Gross Margin by Inventory Item.