Profit and Loss
Profit and loss reports allow you to compare your actual register sales to 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. To get started, from the control panel, click "Profit and Loss".
To see your sales variances, you just need to enter your total sales for the inventory period for each category of product that you are tracking in Bar Cop. For example: If your total in liquor sells for the inventory period is $5540.50, enter 5540.5 under "Register Sales" in the liquor column.
When you enter your register sales, you will learn:
Variance dollar amount - The difference between your actual sales and your theoretical sales after adjustments (see making 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 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 category and break sales down by individual product.Have a question that you can't find an answer to? Contact us