Restaurants Fresh Food purchase price adjustments are continuous, primarily due to the ripple effects of weather-related circumstances in the USA and beyond. However, in 2014 food costs raised significantly
In 2014 Restaurants “costs of goods sold” increased considerably. Beef & Veal product costs are up 11.5%, Pork 9.5%, Dairy 10.5% and so on. For 2015, Restaurant Prime Cost Fresh Food prices are again forecasted to increase at a rate higher than overall inflation. Significant increases are also forecasted in the wholesale costs of Beer & Coffee in 2015, due to weather-related conditions.
For regional Multi-Unit Restaurants with a staff of accountants tracking costs, this is not an issue. In fact, this is the reason Multi-Unit bottom-line profits are 2% – 5% greater than Independent Restaurants, even after their substantial back-office expenses. Large restaurant operations are successful by working under the business school teaching that “Only what gets measured, analyzed and corrected improves”.
The Prime Costs all multi-units track daily are also available to the independents by digging deep into systems that are commonly in place. However, the fact remains; the information must first be properly coded, recorded, and then mined from several areas beyond their POS Systems. This is time consuming and difficult to assemble in a fashion that can be easily understood & truly useful – every week.
However, there is an alternative. Since 2008, hundreds of Independent Restaurant owners have discovered that they too can enjoy the same resources of the regionals with Restaurant Accounting Services (RAS) as a member of their team – at a cost substantially less than in-house bookkeeping.
RAS’s growth & sound reputation is built on being the most complete, timely & cost effective Restaurant Bookkeeping alternative for the Independent Restaurant owner. RAS has accomplished this, and continues to improve with continuous investment in technology & employee training. Today RAS consists of more than 40 highly-skilled restaurant accounting professionals, focused solely on the complete cost oversight and structured daily bookkeeping for Independent Restaurants.
With accurate & timely Profit & Loss Statements, built on properly coded & recorded vendor invoices and POS derived sales data; RAS clients quickly see their complete Prime Cost fluctuations. This information is vital for timely adjustments in menu pricing, profitable daily specials & hourly employee scheduling. Late figures are useless for prompt adjustments to maximize next month’s profitability.
Restaurant Accounting Service reports are often customized to provide only the financial information clients want to share with its staff for cost accountability. In addition to their customized Weekly Flash Reporting and Profit & Loss Statements; RAS clients receive an up-to-date Balance Sheet, Accounts Payable with aging, detailed Sales Reports and reconciled Bank Accounts & Credit Card transactions.
“Controlling cash flow, minimizing losses & maximizing profits” – Only RAS!