Entering received purchases

When you make product purchases and receive that product into your stock during an inventory period, those purchases have to be entered into your current inventory file. Bar Cop needs to know how much product you added into your inventory between the starting and ending inventory counts, so it can calculate usage correctly.

Entering purchases is easy, let's learn how to do it.

If you are taking inventory once a week, you can enter purchases into your current inventory file on any day after you receive the product into your stock or you can wait until the end of the inventory period.  If you are taking inventory daily, then you would enter purchases into the inventory file on the exact day that you receive them.

Enter all product purchases with price paid that you receive into your stock during an inventory period. Purchases and prices can be entered by clicking the notepad icon, or directly into each product cell by typing (or using voice command).

Bar Cop entering purchases 1

Entering received batch products.

Since a batch item is setup and tracked as an individual product, when entering received purchases for batch products the process is slightly different. A received purchase for a batch item is the totality of items that make up that batch.

For example: If you ordered and then received the mix of items to make two batches of Margaritas, then the "QTY Received" would be 2. The "Price Each" is the total cost paid to make a single batch.

Bar Cop entering purchases 1

Liquor - Enter the number of bottles that you received

Wine - Enter the number of bottles that you received

Bottle Beer - Enter the number of cases that you received

Draft Beer - Enter the number of kegs that you received

Non-Alcohol - Enter the number of units (based on full unit type) that you received

Food - Enter the number of units (based on full unit type) that you received

Batch - Enter the number of batches (based on total batch mix) that you received

Calculating average cost of ending on-hand products.

After all purchases have prices paid have been entered, the purchase report will be ready to view. The purchase report takes your current on-hand inventory combined with the entered purchases and calculates an averaged cost per each product's on-hand ending inventory. When you create a new inventory file, the new average cost of each product will automatically be transferred to the product price in setup. This ensures that each inventory period sales and usage data is using the closest per on-hand product cost available during that inventory period.

Bar Cop entering purchases 1

Things to know:

1) Only enter purchases that are added into your stock during an inventory period. For example: If you make an order on Thursday, but do not receive that order until the following week, those purchases will be entered in the next week's inventory period not the week that they were ordered.

2) When you create a new inventory file, the averaged cost for each product is automatically transferred into the product cost column in product setup, making sure that at the start of each new inventory period Bar Cop is using the most accurate product cost possible to calculate data.

3) Entering received purchases is a completely separate function than entering your ending on-hand inventory counts in the inventory locations section. You must do both for the software to calculate final usage numbers correctly.