Profit and loss

Profit and loss allows you to compare your actual register sales against the calculated theoretical sales (what should have been rang into the register based on usage) at the end of each inventory period. By comparing your register sales to the theoretical sales you can learn how much profit you are losing and how bad of a theft problem you have. To get started, from the main menu click "Profit and Loss", and then select the product category.

Bar Cop variance reports 1

To see your sales variances, you just need to enter your total sales for the inventory period for each category of products that you are tracking in Bar Cop. For example: If your total liquor sells for the inventory period is $5540.50, enter 5540.5 for liquor by clicking on the notepad icon. You can also click on the register sales cells directly and type in sales data.

Bar Cop theft reports 2

When you enter your register sales, you will learn:

Variance dollar amount - The difference between your actual sales and your theoretical sales after adjustments. The calculated difference is your profit loss - or what you lost due to theft, over-pouring, giving away product, etc.

Variance percentage - The percentage of your retail profit loss. A good variance percent is under 5%. Anything over 10% and you potentially have a large theft problem.

IMPORTANT - An accurate variance percent can only be calculated when weighing products. If you are point counting, your margin of error is to high to know if you really have a theft problem or not.

If you are concerned about theft, your variances are the two most important numbers in Bar Cop.

Want to dig deeper?

Click on a main product category and break sales down by individual product.

Bar Cop variance reporting 3

Things to know:

1) Your calculated variance numbers will only be as accurate as your inventory is taken. When weighing products, your variance numbers will be accurate and show theft. With point counting, variances will not have close to the same accuracy.

2) Entering your total register sales for each category will give you the best overall look at your establishment's theft problem. You do not need to check individual products on a regular basis, unless you feel like specific products are being stolen.

Have any questions? Comment below or contact us.

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