WISK Bar - Understanding Variance

An explanation of variance and links to resources to learn more about it

Nick Neale avatar
Written by Nick Neale
Updated over a week ago

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After importing your sales data, adding your recipes, and having at least 2 completed inventories, you’ll be able to see your variance on the WISK Web Portal. You're also emailed a copy of your Variance report when you submit an inventory count.

Variance is the difference between what was sold in your POS, and what was actually consumed/used during an inventory period.

Variance is important because it identifies your losses.

For each item, you see how much product you should’ve consumed based on your sales data and POS Item mapping, and how much you actually consumed based on your inventory count/invoices.

The variance for Grey Goose Vodka

Variance is one of the most complicated concepts in WISK because it's the culmination of many separate actions (taking regular inventory counts, adding all invoices, POS Item mapping and more) and needs accurate data.

Your first variance may have some mistakes, but that's okay! It all comes down to some missing or bad data.

The ultimate goal is to spot the items you're using more of than you should so you can take actions to reduce your costs.

Variance Resources

To help you, we have an entire section of the Help Site dedicated to Variance.

We recommend starting with "What is Variance?" and taking the Variance tour on the WISK Web Portal. It's a bit lengthy, but provides the most concise explanation of the topic.

Note: You can also take the tour by clicking here. You must already be logged into the WISK Web Portal on your browser to view it.

Other topics covered include:

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