Club and Pub Accounting: Use a Recipe Cost Calculator to know your most profitable dish

By Sky Accountants

If you are running a hospitality business, this Recipe Cost Calculator will help you find out how much it costs to prepare a dish. It can calculate the cost of the main ingredients and additional items used to prepare a dish along with other costs such as utilities and labour. A club and pub accounting firm can help you with this.

It is important to calculate all the costs that come with the preparation of any product, especially if the purpose is to gain profit. To be successful in your business, you need to know the true cost of your products. If you cost the dishes of your menu, you will be able to minimise costs and achieve your target profit.

Your managers will be able to establish correct and competitive sale prices if they practice effective food cost control. Doing so will allow you to reach better profit targets not only for each dish but for the entire menu as well. You will be able to establish specific dishes for your daily sets or special menu (cross selling, up selling, bundling). It is important to know which items and ingredients can best generate your desired profits.

restaurant accountants bookkeepers consultants

The Spreadsheet123 Recipe Cost Calculator is intended to help get the accurate cost of any dish on your menu. Add the costs of all the primary and secondary ingredients, preparation, labour and utilities and break them down by quantity or number of units for a single dish. You need to enter the price of each item. This will be used to calculate the total cost of items needed for the preparation.

Key in the selling price of the dish based on your menu. All these numbers will be used to determine the food margin of the dish or the proportion between the cost of the dish and generated revenue. Note that 30% of the costs should generate 70% of the profit. The “Net Profit” on this calculator calculates the potential net profit which the recipe can generate. Speak with a club and pub accounting firm for more details.

If you have any questions or if you want to use this Recipe Cost Calculator, simply email or contact us and we would be happy to help.

Need a bit of assistance with your hospitality business? Contact a Sky Accountants representative today and learn more about our fixed fees. You won’t regret it.

Some of our clients include Buckley’s Entertainment Center, Ballarat Leagues Club, Daylesford Hotel, Bacchus Marsh Golf Club, Campbell Point House, Midlands Ballarat, The Urban Newtown, Maryborough Midland Society, Brink Drinks, Dontek, UV Wraps and many more.

Aside from business consultation, we also offer accounting, bookkeeping, back office, SMSF and POS services designed to help you achieve greater financial success.

 

Email Address: info@skyacc.com.au

Accountants Ballarat Office

Phone: 1300 328 855
Fax: 03 53334430
Office Address: 901 Macarthur Street, Lake Wendouree, Victoria 3350, Australia
Postal Address: PO Box 2234, Bakery Hill, Victoria 3354

Accountants Sunbury Office

Phone: 03 97444522
Fax: 03 97447004
Office Address: Suite 13, Building B, Sunbury Corporate Centre, 33-35 Macedon Street, SUNBURY VIC 3429
Postal Address: PO Box 222 Sunbury, Victoria 3429

 

Source: www.spreadsheet123.com

Like this? Share it...
Twitter
Facebook
Pinterest
LinkedIn
Google+
https://www.skyaccountants.com.au/club-and-pub-accounting-use-a-recipe-cost-calculator-to-know-your-most-profitable-dish">

Related Reading

Leave a Reply

Your email address will not be published. Required fields are marked *

Social media & sharing icons powered by UltimatelySocial