Tracking your cost on a daily, weekly and monthly basis is the foundation to making sure you are on track with your controllable cost. This takes time and determination to stay on course at achieving you budgeted goals.
First you must use all available information daily to be able to react quick enough to make the cut you need to in the areas of food, liquor, labor. Your point of sales system is a great tool for gathering the information on sales, guest count and labor . The accounting department can provide you with the daily deliveries of food and liquor. Keeping accurate inventory #s is the finishing touch for information needed. Below is a sheet that you would input you daily information into the following day that they occurred.
At week’s end the above sheet is what you should have. You now know your weekly totals for the major controllable accounts in your restaurant. You could even insert into this sheet daily/weekly budget targets. So that you could monitor you success on a daily basis enabling you to react quickly to deviations.
Now that you have the weekly numbers in place where do you think we go from there. That is right we transfer the weekly numbers to our monthly controllable sheet.
Notice that the numbers for the monthly came right off the weekly work sheet giving you the first week of the month for comparison to the budgeted numbers. As you complete week two, three, four, the totals go into this sheet and at the end of the month you have a complete picture of the month compared to the budgeted numbers. The budget number can be found on the bright orange line. Week by week you can see your numbers getting closer to what you budgeted to do for this month.
If you would like help setting up these work sheets for your business email me at: Socialmediaconnected@comcast.net