FREQUENTLY ASKED AND ANSWERED QUESTIONS ABOUT (SIR) STATISTICAL INVENTORY RECONCILIATION

Q:   How do I get my beginning of the day readings?

A:  When you stick your tank at the beginning of the day, you take your readings, which should be in inches, and convert them to gallons using your Tank Chart that you gas supplier should have supplied you with.  You find the inches that your stick is readingand convert to how many gallons it should be.  The number of gallons you get, is what you put in Column 1.

Q:  How do I determine how much I have sold in a day?

A:  To accurately determine how much product has been sold in a day's time, follow your procedure as you normally would to see how much you have sold.  Either look at your tank gauges to see how much product is sold or look at your cash register and determine how much you have sold of each product that way.  Whichever, way is eaiser for you to tell how much you have sold.  When you get this number, in gallons, put it in Column 3 for that particular day.

Q:  What is Column 4, 'On Books'?

A:  Column 4 is just a series of math that is processed to get your outcome.  It consists of taking Column 1 + Column 2 - Column 3 = Column 4.  On Books is what should be in your tank at the end of the day.

Q:  What goes into Column 5 on the Monthly Inventory Form?

A:  Column 5 is just the same as the beginning readings; you simply stick your tank at the end of the day and see how much product, in gallons, is in your tank.  You also use this number for the next days beginning reading.

Q:  What exactly is Variance and how do I get those numbers?

A:  Variance is the difference between what is in Column 4 - Column 5 = Column 6.  The number should always be low.  This is just showing the difference from your 'On Books' to what is actually in your tank at the end of the day.  For All Other Questions Please Contact:  Chelcie