Turnover days that are greater than 10 indicate that the amount of stock is higher than your business need.Fewer turnover days means that you are selling your food quickly and often indicates less waste and lower food cost. The recommended number of turnover days is...
Ending Closing Stock formula: Opening Inventory + Purchases = the Cost of goods available for sale (COGAS) COGAS x Cost percentage = Cost of goods sold (COGS) COGAS – COGS = Closing inventory Example: Your Opening Inv. Is 50.000€ + Purchases of 10.000€ (MTD or...
1. Keeping track of opening and closing stock helps head chefs to efficiently manage and control their stock to minimize the risk of waste, track product value and optimize quality and food cost. 2. With a record of opening and closing stock, the food cost will be...
Closing stock is your inventory or estimated inventory, if you do not have a counted stock account. Opening stock is the closing inventory from last month.
Turnover days is how many times an average stock is being converted into sales. Fewer turnover days means that you are selling your food quickly and often indicates less waste and lower food cost. Calculation: Step 1. Opening inventory + closing inventory / 2 =...
Manually enter the total value of your food purchases as a lump sum in the Purchase column on the day they are delivered, excluding VAT.
Daily routine (5 min): 1. Enter the total value of your food purchases as a lump sum in the Purchase column on the day they are delivered, excluding VAT. Weekly routines (10 min): 1. Update your closing stock by inserting your estimated stock value (See: How...
Reaching the monthly productivity target is your key goal. Keeping the blue hours bars as close to the yellow line (SMART Forecast) as possible means that you are achieving your daily productivity target. Keep in mind that this is not always possible or desirable for...
The rates that you see in the cockpit are picked up from the Budget & Forecast module. In the Budget & Forecast module, you can enter either the rate or total labor cost, depending on the settings chosen. If you work with total labor cost, the labor cost...
Rates are average total labor cost per hour in the department (cockpit). It should include taxes and social charges. These are calculated by dividing the total labor cost by the total number of hours worked.