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 six sections. Your Transactions, Summary Report, Sales YTD, EOD Reports, as well as your Low and Out of Stock products. All these sections are easy to navigate to help you support your business better. The first section is your Transactions History.
The Transaction History section will help you go back through your records to verify everything if a situation were to arise. You will be able to see the date and time purchased, the Transaction ID, which is a unique product ID from clover. You can also make searches by any of the fields.
In the summary report, you will see the total number of units sold for a particular product based on the date ranges you’ve selected.
When you enter the Sales YTD page you will first see a line graph representing the Sales Year-to-Date. At the bottom of the page, 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.
CobaltConnect users will benefit from this section the most because we know that one of the biggest issues you face being a liquor store owner is your year-end inventory audits. 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 you have on-hand at your store. When you keep CobaltConnect up-to-date with your inventory and Distributor Purchase Orders- this section will give you a true representation of the actual quantity on hand and true retail/wholesale value to year-end tax reporting. CobaltConnect users have shown a significant reduction and even completely eliminate the need to hire additional part-time workers for weeks figuring out your current units and their wholesale value.
End of Day Reports
In this section, you will be able to see all critical data points to help you get a strong understanding of your business performance day-to-day. End of Day Reports will provide; daily sales totals, any discounts or refunds applied that day, taxes, tracking bottle returns, net sales, cost, profit, and your profit-margin percentage. From here you can quickly see your last month’s sales history for your sales tax reporting. You can also download these reports in excel or pdf to send it to your bookkeeper or accountant.