Sensitive Food Item Inventory for Beginners | Restaurant Accounting
The sole major purpose of running any restaurant is to make it profitable. And obviously, same is the case with your restaurant. Whatever you feel towards your beloved restaurant, if it isn’t generating profit at the end of the day, it just won’t work out.
A profitable restaurant implies your gross food and beverages revenue end up being the part of profit at on the important P&L statement. Tight control is needed for food and beverage items as the largest percentage of revenues is generated from the sales of these items. Hence, using your item inventory with utmost care and sensitivity becomes an integral part of successful restaurant accounting.
You spend more than half the money on a few numbers of items. These ‘sensitive’ items mostly include the center of plate items such as steaks, chickens, proteins and also the more expensive wines, liquors, and beers. As prices of these can change in a rapidly fluctuating manner, these items are referred to as ‘sensitive.’ And the fact that they are given this name requires that you carefully account for these items. A weekly check is at least required, but daily inspection and accounting are preferable and desirable.
Weekly vs. Daily
If you move forward on a monthly or weekly accountancy schedule, it will become increasingly difficult to account for sensitive items so that should most likely be a strong no from your side if you want to have an effective accounting. A regular accounting routine will let you know immediately of any discrepancy or a strong variation, and you can take action accordingly.
Here are some tips and ways through which you can effectively manage sensitive food item inventory:
● First things first, decide all the items that are available in your restaurant and come under the raw food items list. Some suggestions include wine, steak, etc., in short, your expensive food but it depends on the type of your restaurant.
● When all the raw food is in storage, count all the items that you included and do this before the start of next business day like at the end of every night.
● Fill in the correct details, e.g., time at which the inventory was being filled, the name of the person filling it and the correct count of each item.
● Go on with your business day and let the items sell. Do not put anything in the inventory during the operation of the business.
● After the business day is over, you can again get the things counted and the inventory to be updated. Since items were used up during the operation of the business, they will be lesser in amount than the day before.
● Monitor this on a daily basis so you may get to know of any strong variation immediately.
● Employ the use of graphs, tables to visualize the change in a more effective manner.