Recipe Costing is not a one-time occurrence – it’s an ongoing process. When food costs change, your recipe costs change. The actual purpose behind plate costing is so that you can price your menu items to ensure you’ll make money. If you notice a higher food cost than usual you can adjust your selling price, […]
Prime costs are a key metric in the restaurant industry, as they represent a significant portion of overall expenses. They are the sum of a restaurant’s food and labor costs. In order to calculate it, you will need to add up your COGS and labor costs. Calculate Your COGS and Labor Costs To calculate your […]
In today’s fast-paced and competitive restaurant industry, digitizing vendor invoices can offer a wide range of benefits that can help restaurants streamline financial operations and gain competitive edge. Benefits of digitizing vendor invoices for restaurants: Increased Efficiency One of the biggest benefits of digitizing vendor invoices is the increased efficiency it can provide. When invoices […]
Restaurant accounting is the process of managing the financial transactions and records of a restaurant. This includes keeping track of revenue, expenses, profits, and losses. Effective accounting can help restaurant owners like you make better informed decisions about your business operations and improve the overall financial health of your restaurant. 6 ways you can optimize […]