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QuickBook Tips for Restaurant Owners: Creating Physical Inventory Worksheets Using QuickBooks

Profitable Financial Advice

QuickBook Tips for Restaurant Owners: Creating Physical Inventory Worksheets Using QuickBooks

In any business, keeping track of inventory is important.  But in the restaurant business, having current, accurate knowledge of exactly what is going in and out is essential.  Think about it: if you’re an office that runs out of staples, you can get by.  But if you’re a breakfast place that runs out of eggs, your day turns into chaos, and worse, you lose a lot of money.

Restaurant inventory can be very confusing.  A restaurant needs a huge number of items daily, and these items come from all different places (i.e., the menus from the printing place, the produce from one provider, the meat from another).  What makes it even more complicated is that these needs change based on the season, the day of the week, and even the time of day.  It’s absolutely essential that a restaurant owner is constantly in control of his or her inventory.

One of the simplest and most effective tools a restaurant owner can use to manage inventory is the QuickBooks Physical Inventory Worksheet.  This worksheet is easy to update as your menu (and supply needs) change.  You can print out a copy each day for your manager to use to conduct a physical inventory check, counting each item and noting supply levels.  You can then compare your current levels to those from the time of your last walk-through.  Do this a few times, and you’ll know how much of each item you use daily.  When you’ve got this down, you can even equip your Physical Inventory Worksheets with “reorder points” so that you know when it’s time to restock your supply of each item.

QuickBooks’ Physical Inventory Worksheets help take the guesswork out of the inventory restocking process.  Keeping careful count of your supplies helps your restaurant run smoothly, and keeps you from having to say, “I’m sorry, we’re out of that right now.”