Sales Vs. Wages
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.
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.
This information is different to Budgets but is part of the Advanced_Roster_Functions section, which is available in each individual roster.
You can also grab the Sales vs. Wages data from Reports for previous roster/pay periods, which can be exported into Excel.
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.
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.
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.
"Okay, so what's the difference between Sales and Gross Profit?"
Sales is incoming revenue stream into the business, based off selling your goods and services.
Gross profit is the incoming revenue stream minus production/manufacturing costs and any overheads.
Enabling Sales/GP Tracking
- Open up Wageloch and sign in.
- Click on the Settings cog in the top right and select General.
- Tick the box for Track wage percentages
- Choose to track by Sales or GP
- Opt for highlighting % or if you'd like to track per department.
- Click Done to save.
