I am amazed
whenever I hear that a restaurant does not take a fiscal inventory each and
every month. By fiscal inventory I mean counting what is on hand at the end of
the month and extending the value. In order for the monthly income statement to
reflect accurately the cost of food consumed and sold, you must take a complete
food inventory. There is no substitute or shortcut for taking a fiscal count of
food, beverages, and supplies if you expect your cost ratios and percentage to
show what is actually taking place in your restaurant.
You wont
know if you don't count.
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