The figures for "Last Year to Date" will be found on the sheet for the corresponding month of last year, and are copied in this column.
All percentages should be figured on sales. The figures shown on each line in the "Amount" columns under the headings "This Month," "This Year to Date" and "Last Year to Date" should be divided by the "Month Total" of the sixth column, shown above, i. e., "Goods Sold, Less Goods Returned."
When you take inventory, the amount of stock should equal "Merchandise on Hand," as shown by the Daily Exhibit. But there will generally be a discrepancy, varying with the size of your stock, and that discrepancy will represent the amount of goods gone out of your station without being paid for; sold for cash and not accounted for; sold on credit and not charged, and the like. It's worth something to know exactly what this amounts to. The place for this information is under "Inventory Variations" on the sheet.
The space headed "Accounts Payable" is provided for recording, on the last day of every month, just what you owe for accounts and for notes, and also the same information for the corresponding date of last year.
Invaluable Monthly Comparative Information.
You see now that by the use of the Daily Exhibit you have a running history of your business by days, weeks and months. But this is hardly sufficient for a clear view of your business, since you will want some record which will tell you what the year's business has been, and how it varied from month to month.
Figure 188. Statistical and Comparative Record.
This is provided for in the Statistical and Comparative Record, illustrated by Fig. 188, on which the amount of sales, cost of sales, gross profit, expenses and net profit are entered for each month of the year. All the figures for entry in this record are taken directly from the Daily Exhibit at the end of the month, which makes the work of compiling it a very easy task.
The advantages of a record of this kind can hardly be overstated. The figures in the upper part of this statement will show which months have been profit payers and which have not, while from the figures in the lower part of the report you are able to determine the percentage any group of expenses bears to sales, and are thus in position to subsequently control such items.