Expenses tracker restaurant excel
It will also keep track of Comps, Marketing Event Credits, and Transfers. I use the Food Cost Calculation Tool to keep track of all these elements. If not, you at least need to be aware of the method that they are using so you can give an intelligent response to fluctuations in your food cost.įood Cost and Inventory Calculation Spreadsheet Accounting should be accruing these invoices so that they are reflected in the appropriate month. If the sales for New Year’s Eve are posted in December, but the purchases for New Year’s Eve get posted to January (when the invoices cross their desk), then your food cost for January could be exceptionally high, whereas December would look great. Do they have all your credits and transfers? Is the accounting department accruing invoices so that your budgetary monthly purchases reflect what is actually being brought into the restaurant for the current month? Or are they simply paying invoices as they come across their desk and considering those paid invoices as your purchases for the month? Invoicing Gone BadĪn example of this gone bad would be New Year’s Eve events. If they are not close then you need to know the reason why. The numbers which the accounting department have will probably be different, but they should be close (+ or – half a point). Enter all these numbers into your own spreadsheet to calculate your food cost. Be aware of marketing events and comps which may have hurt your numbers. Know what your beginning inventory number is as well as your ending inventory number. In other words, don’t trust the accounting department to get your numbers right.
Never leave your fate in someone else’s hands.
The Food Cost Calculation Fileis an excellent inventory tool to use if you do not have one already. You will want to use your own Excel spreadsheet to verify your food inventory. Use Excel To Verify The Inventory Balance Sheet Managing each step of this process is vital to being on top of your numbers. Controlling your end of month food inventory revolves around four specific tasks: Taking inventory, verifying credits & transfers, verifying the pre-closing inventory balance sheet, and checking posted inventory using an excel spreadsheet. Controlling your month end food inventory and food cost is essential both for your business as well as for your own professional reputation. This is the forth part of this discussion on managing your food cost by managing your month end inventory. Managing Restaurant & Hotel Inventory – (Part 4 of 4)