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.
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.
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.
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 using the sales variance tool. You can check specific products by clicking on the notepad and enter those products sales data, or export all of your products sales data from your POS system and use the copy/paste feature to quickly enter all sales numbers.
To compare usage data, click "Usage Variance". With the usage variance tool, you can enter total product usage data taken from your POS system reports and compare rang usage to actual product usage.Have any questions? Comment below or contact us. Ready for better inventory management? Get Started Free →