info@sprintbarcontrols.com

Reporting and Accounting

Reporting and Accounting is the battleground where you take control of the sales/revenue dynamic and manage the steps to best profit.

From your POS you have all the sales detail. From your beverage systems you have all the usage data.  Is revenue consistent with usage?  How much work is it to figure that out?  How long does it take?  Do you do it religiously?

The key to sales to usage reconciliation is technology.  To be accurate you need to know every detail of every transaction and the sheer volume of data becomes overwhelming.  Your POS system needs a database of recipes for every drink, and the ability to filter information as you require.

The beverage systems deliver information of what was used to deliver the drinks, so a direct “line by line” correlation is the best approach.  Such a comparison sounds simple but requires a degree of diligence to do with interface software.  To do it manually is unreasonable due to the sheer volume of data.

Summary Reporting gives you a snapshot of usage over a defined period.  From there you capture sales data and use any number of metrics to perform some form of reconciliation.   Again, that level of diligence is determined by your management style.

If you want to optimize your investment some form of reconciliation software is essential.  It always puzzles me when people invest in a POS and beverage system, then choke at the software investment, not realizing the importance of this reconciliation.  Inevitably this decision will compromise their return and handicap them for the life of the system.

I see software as a cheap staff member, performing a mind numbing rote task, day in, day out, never calling in sick, and rarely needs retraining.  Take a quote you have for software and divide by 20% of minimum hourly wage, and that’s how many hours you need the system running to break even.  There are costs of time to set it up, but only needs to be done once.  Like any technology effort, if you maintain it all will go well.

Yes, a manual reconciliation using a spreadsheet and confirmed by comparing line by line numbers can work, but it won’t.  Any process demanding human contact to be successful will inevitable fail.  Shiy happens on a daily basis and it starts by falling behind by a few days, then a few weeks, then never again.

It doesn’t take much distraction for the process to fall off and negate all past investment. The longer you try to make it work, the more it will cost you in the end, regardless of how it turns out.  People who choked on software investment in the past will attest to this. The reality is, you need to stack, sort, and shuffle massive amounts of data.  Work smarter, not harder.

A critical aspect to consider is to know who you are doing this for.  My business exists to create income for me to live.  I don’t exist to spend all my time at work…Do you?

As always, if you have any questions, feel free to give me a call.

Download PDF