While the dashboard provides a high-level view of your variances by family/category, the Variance page displays variances by individual items. For each item, you’ll see the amount sold and consumed, displayed in a number of ways ($ value, by units, by oz).
By default, it displays the most recent inventory period, but you can adjust the “from” and “to” dates to any completed inventory.
Sales / Consumption Overview
Before looking at each item, you’ll see some high-level information regarding your sales and consumption:
- Sales - The total sales for the defined inventory period.
- Consumption - How much product was used at cost in the venue during the inventory period. Consumption = Starting Inventory + Invoices - Ending Inventory.
- Beverage Cost - The overall beverage cost for the inventory period. Beverage Cost % = Consumption / Sales
- Variance Cost - The sum of the Variance Cost for each item. Variance Cost = Cost per Unit * Variance. A negative Variance Cost indicates a loss
- Variance Retail - The theoretical value that the Variance Cost could've sold for based on your POS Item recipes.
- Shrinkage Percentage - The percent reduction in your starting inventory due to Variance Cost. Shrinkage Percentage = Variance Cost / Beginning Inventory.
Note: We display this information because you must have accurate sales and consumption data to determine whether a variance is real, or because of missing/incorrect data.
Variances by Item
The main section of this page is where you can view the sales, consumption, and variance for each item in your venue.
The default columns display the following information:
Sold (units): The number of units sold based on the sales data received from your POS system and using the POS items and recipes you have created.
Consumed (units): (Beginning inventory + Invoices Added) – Ending inventory. In other words, what was used/poured during the inventory period.
Variance (units): Sold (units) - Consumed (units). A negative value indicates a loss, whereas a positive value indicates a surplus.
Variance Cost ($): The cost of the variance based on the wholesale price (your cost/unit on the Items page).
Variance Retail ($): The retail value of the variance based on a weighted average of all the POS items that the item is an ingredient. In other words, what the variance cost would have sold for.
Details: Clicking details provides a full breakdown of your data, showing exactly what was sold, the recipes / POS Items, and your history of inventory counts and invoices.
Aside from the default columns, there are many more that you can toggle on by clicking “Columns” on the right-hand side of the screen. Some options include seeing your sales, consumption, and variance in ounces, and beginning and ending inventory counts.
Just hover your cursor over the "i" icon on a column header to see a definition.
You can customize the layout of this page by dragging and dropping columns to where you want them.
Sorting / Filtering Information
When reviewing your variance, there are a number of tools to help you sort and filter your items:
- Predefined Filters
There are some preset views that change the layout of your items on the Variance page.
- Default - your items are ungrouped but sorted from the highest to lowest variance.
- Family > Category - groups your items by family and then by category
- Category - groups your items by category
- Add view - you can create your own preset view based on the current layout of the page. You can customize the page by using the”Columns”, “Filters” and “Grouping Options”, then click “Add view” to save it.
You can use the search bar to find items by name, or by family / category
There are a number of filters to help identify any issues you may have with your variance.