Variance Analysis Reports
Variance analysis reports help you 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 really have. The industry standard (acceptable) variance range is within 5%. The higher a variance percent number, the greater your profit loss may be.
To see your establishment sales variances, enter your total sales for the inventory period for each product category 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 enter sales data.
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, variances are the most important data points to check.
Want to dig deeper?
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 data.
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? Contact us.