You work incredibly hard every day to ensure your business runs as successful as possible. On top of the dozens of tasks you do every day to accomplish this the most tedious part of this, besides keeping track of your inventory, is keeping track of all your records. You need to keep track of countless numbers of papers and properly manage it all in order to apply it correctly to your day to day activities. If you are new to Cobalt Connect you might not realize that the system is gathering up all your business’s sales information for you. With this information being stored digitally you’ll be able to save more of your valuable time and gain helpful insight into your liquor store. This all can be done in the Reporting Module of CobaltConnect.
The Reporting Module is split up into five sections. Your best sellers, sales reports, stock reports, another copy of your purchase orders, and comparative analysis sections. All these sections are easy to navigate to help you support your business better. The first section you’ll see is the Best Sellers (Last 30 Days).
In the Best Sellers section, you will first see a line chart of your ten best sellers from the last thirty days. This time frame can be altered to any time period you want. If you hovering over the dots of the line graph a pop-up will appear that will show you the revenue for that time period.
When you scroll down to the bottom of the best-seller page you will see a list of those same top ten products and a larger breakdown of each item. You will be able to see a column for their ranking, the product name, revenue, and the number of units that have been sold. This information will change based on the time frame you selected at the top of the page so you don’t have to be clicking back and forth between the sections to find the information you are looking for. If you click the next button on the bottom of the chart you can see your products ranking farther than the top ten. This will help you learn not only what is most popular with your customers but over time you will be able to learn buying trends based on the time of year.
The next section is the Sales Reporting section. This section is broken up into three tabs Sales YTD, Purchase History, and End of Day Reports. When you open up into the Sales Reporting section you will first see the Sales YTD section.
We know that one of the biggest issues you face being a liquor store owner is your year-end audit. Either you have to spend the money to hire a team to complete it for you or you have to spend weeks counting to get an understanding of the number of units in your possession. When you keep up with your inventory and sales within this section of the Cobalt Connect system you will always have an accurate representation of the actual quantity on hand and true value for tax repairs. This set up will greatly reduce, or even completely eliminate, the need to spend weeks figuring out your current units and their wholesale value.
The Sales YTD section will consist of a line graph of your sales for the last thirty days, but that can be adjusted to any time frame you’d like. Again if you hover over the points in the line graph you will see the sales for the broken-up time frame. When you scroll down you will see columns for simple data points that will show each month with the number of units sold, the revenue, quantity on hand, as well as the retail and wholesale value.
The next tab is where you can find your Purchase History information. This information will help you at the end of each month when you take a look back at the last 30, 60, and 90 days of reports to see what you bought and what has sold during that time period. This, as you know, helps you plan out how you will possibly buy for the next 30, 60, and 90 days. This process can take you hours. However, with this page, you will be able to refine your search and save time by having your stock, purchase, and sales history reviews consolidated into one location. You will be gaining better insight into your business so you can start making quicker, smarter buying decisions and spend less time whittling down your reports to figure out your useful data. For your convenience, we’ve made it so you will be able to place items right into your shopping cart from this section.
The final tab of the Sales Reporting section is the End of Day Report section. This section will be full of critical data points to help you get a strong understanding of your business. It will also help you identify any problems you might be having so you can have better insight when it comes to fixing your problems in the future.
You will be able to see the daily sales totals, any discounts or refunds applied that day, taxes, bottle returns, net sales, cost, profit, and your margin percentage. This is another section you have to keep up with. Just putting in the bare minimum of your Cobalt Connect management will not give you accurate numbers.
Stock Reports, Purchase Orders, And Comparative Analysis
The final three sections are Stock Reports, Purchase Orders, and Comparative Analysis. When you click view all into these sections they will bring you into the main pages from other Modules. By having these sections again on this page it will help you stay on track when trying to figure out your purchase orders and planning for your business.
When using the Reporting Module in the Cobalt Connect system you will gain back so much more of your time and money when you aren’t having to crunch the numbers to get an answer to a simple question.