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| Logging your incoming sales or gross profit (GP) and comparing it to your outgoing wages can be a fantastic way to achieve a properly forecasted roster, actively track sales for reports, and find discrepancies between your projections and what actually happened that week/fortnight.
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| <br>
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| To aid in ensuring full visibility of your data, you can also highlight when a wage percentage exceeds a certain amount, and even the option to track per department.
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| <br><br>
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| This information is different to Budgets but equally as beneficial, and will be coming soon in a future article.<br>
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| You can also grab the Sales vs. Wages data from [[Reports#Sales.2FWages|Reports]] for previous roster/pay periods, which can be exported into Excel.
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| <br><Br>
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| To get the best out of the Sales vs. Wages report, Projected Sales/GP data must be entered; this can be completed as you're creating the roster, or can be backdated.<br>
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| Actual Sales/GP data is manually entered either in the timesheet or backdated in the roster for the same period. If you're lucky enough and use one of the [[Point of Sale]] systems that we integrate with, we may be able to pull your data automatically.
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| <br><br>
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| Before we get to the fancy stuff, let's enable the tool and have a look at the difference between Sales and Gross Profit, and how Sales vs. Wages works.<br><br>
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| ==Difference between Sales and Gross Profit==
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| Sales is incoming revenue stream into the business, based off selling your goods and services.<br>
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| Gross profit is the incoming revenue stream minus production/manufacturing costs and any overheads.<br>
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| Depending on which you would prefer tracking, it can change the wage percentage and calculations for this tool and report.
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| <br><br>
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|
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| ==Enabling Sales/GP Tracking==
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| * Open up Wageloch and sign in.
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| * Click on the Settings cog in the top right and select General.
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| <Br>[[File:2.0 Settings and General.png|300px]]
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|
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| * Tick the box for Track wage percentages
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| ** Choose to track by Sales or Gross Profit.
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| ** Opt for highlighting % or if you'd like to track per department.
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| * Click Done to save.
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| <br>[[File:2.0 Track Wage Percentages.png|300px]]<br>
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|
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| ==How does it work?==
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| When creating your roster and inputting data in the Sales area, the only two fields you can enter values into are the Projected Sales/GP and the Actual Sales/GP.
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| Ideally when in the setup stages, only input the Projected Sales/GP values; if you're backdating data, you can input the Actual Sales/GP values.<br>
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| To generate the wage percentage and reports correctly, the calculations work off '''four (4)''' fields:
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| * Projected Sales or Gross Profit
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| * Actual Sales or Gross Profit
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| * Projected Wages (based off the rostered hours)
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| * Actual Wages (based off the timesheet)
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| <br>
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| When viewing your Wage Percentage, for most industries anything sitting around '''20% - 25%''' is average and ideal; the lower the better.
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| If you're finding your wage percentage is creeping up and over 30%, you may need to review your revenue or your rosters to be more cost effective.<br>
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| {| class="wikitable"
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| ! style="color:black; background-color:#e49cc5" | '''Figures to include for accurate data:'''
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| |-
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| *Projected Sales or Gross Profit
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| *Actual Sales or Gross Profit
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| *Projected Wages (based off the rostered hours)
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| *Actual Wages (based off the timesheet)
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| |}<br>
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|
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| {|class="wikitable" style="text-align:center;"
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| ! style="color:black; background-color:#e49cc5" | '''Value 1'''
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| ! style="color:black; background-color:#e49cc5" | '''Value 2'''
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| ! style="color:black; background-color:#e49cc5" | '''Result'''
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| ! style="color:black; background-color:#e49cc5" | '''Notes'''
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| |-
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| | Projected Sales/GP || Actual Sales/GP || Sales/GP Variance || Are you up, down or break even?
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| |-
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| | Projected Wages || Actual Wages || Wages Variance || Did you spend more/less on wages than you earned?
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| |-
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| | Projected Wage % || Actual Wage % || Wage Percentage Variance || What is the variance between the % of money you spent on wages?
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| |-
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| | Roster Hours || Actual Paid Hours || Hours Variance || Was there a difference between your roster and timesheet hours?
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| |-
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| | Projected Sales/GP || Projected Wages || Projected Wage % || How much of your Sales/GP will you anticipate spending on wages?
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| |-
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| | Actual Sales/GP || Actual Wages || Actual Wage % || How much of your Sales /GP have you spent on Wages?
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| |}
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| <br>
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| </center>
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|
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| ==Format: Roster vs Report ==
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|
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| When looking at the difference between the two report formats, one key difference is that when running the Sales vs Wages report from the [[Reports]] menu, this is able to be exported as a .csv or .xlsx spreadsheet format to work with in programs such as Microsoft Excel or even Google Sheets.
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| Click on the thumbnails to open a larger view of the images.
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| <center>
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| [[File:Salesvwages.PNG|400px|Sales vs Wages via Roster]] [[File:Sales report r002.PNG|400px|Sales vs Wages via Reports]]
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| </center>
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| <br>
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| <br>
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| <br>
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| [[File:Back-button-new.png|link=Budgeting]] [[File:Home-button-new.png|link=Main Page]] [[File:Next-button-new.png|link=Grid View]]
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