You may not like it, but taking consistent and correct inventory counts is essential to having actionable information. When restaurant operators skip inventory counts, they run the risk of running out of necessary ingredients, cramping cash flow with too much or the wrong inventory, and making poor menu pricing decisions.
In collaboration with Toast, our own restaurant client advisor Marisa Parker, CPA, breaks down these ramifications, and explains how you can schedule and conduct the simplest and most efficient inventory counts in “Taking a Physical Count of Restaurant Inventory That Actually Counts.”
With consistent inventory counts, operators are able to:
- maintain sufficient – and correct – stock to support the menu
- identify areas for improvement due to waste or theft
- avoid having an excess of slow-moving inventory
- place orders at the right time, in the right quantities, and at the right prices
- calculate the true cost and profitability of each menu item
Without the correct inventory numbers, you’re operating without a plan. Check out “Taking a Physical Count of Restaurant Inventory That Actually Counts” to get on track!
Have questions about inventory management, AP, or other aspects of restaurant accounting? Schedule a call with one of our advisors for help!