After completing an inventory, you want to make sure that you have accurate sales and consumption data so you can correctly identify any variances. Begin by looking at the "Beverage Cost" section on the Home screen.
This is a great way to check the accuracy of your data at a high level. For example, if the value of your invoices seems higher or lower than expected, you may have missed entering an invoice, or added a duplicate invoice.
You can view your overall Beverage Cost data, or view specific Families (Liquor, Wine, Beer).
The "Beverage Cost over time" graph is also a great resource. You can view your sales and consumption over multiple inventory periods to identify any issues. For example, if you consistently have a 20% beverage cost each week, but then it jumps up to 40%, you should check your sale sand consumption values for that week.
Tips for Accurate Sales & Consumption
Here are some quick tips to make sure you have accurate sales and consumption data:
- Check that all of your items have a cost per unit
- Add all of your invoices for the inventory period
- Add all of your recipes to your POS Items
- Archive all non-alcoholic items in your POS Items (if applicable)
- Check that you are not missing any days of sales
Variance By Table
After you have verified that your sales and consumption data is accurate, check the “Variance By” table on the Home screen.
This provides you a breakdown of your variances by family and category.
The table displays the following data:
- Consumption Cost ($) - The dollar value at cost of what was consumed (based on inventories and invoices received)
- Sold ($) - The total sales for that family / category
- Cost of goods sold ($) - The dollar value at cost of what was sold (based on your POS Items recipes)
- Variance Cost = Cost of goods sold - Consumption cost
- Variance Retail - An estimate of what the Variance Cost value would’ve sold for (based on POS Items)
- Beverage Cost - Consumption Cost / Sold
- Theoretical Beverage Cost = Cost of goods sold / Sold ($)
Interpreting the Data
Think of the Theoretical Beverage Cost as a target. This is what your beverage cost would be if you poured exactly what was mapped to your POS items.
Ideally, you want your Cost of goods sold (which is based on the recipes) to be as close as possible to your Consumption Cost (what was actually poured).
In the example above, the Cost of Goods Sold for Vodka was $1048.29 on $7988.35 of sales. However, based on the inventory count, $1237.53 of vodka was actually used (Consumption Cost $). This results in a Variance Cost of (1048.29-1237.53) = $-189.24.
You can then go to the Variance page of the WISK Web Portal to see your variances by each item to investigate further.