AMLAN BASU HOTEL MANAGEMENT

  19 Must-Have Apps for Restaurant Owners Restaurant management  presents many challenges , from operational efficiency to guest satisfaction. Keeping up with your responsibilities is no small task, so staying up-to-date on the latest apps simplifies your job. While restaurant owners are always on the go, many useful tools are found right on your smartphone. Here are some of the best apps for restaurant owners to make life running your business a little easier.  Management Apps We all need a little help sometimes. With the following apps for restaurant owners, you can perform many of your logistical tasks through your smart device. Below are a few of our favorites.  7shifts This app allows you to manage employee schedules and labor costs. You can drag and drop employees into shifts based on their availability and shift requirements. Employees receive instant notifications about their shifts, and you can approve or decline employee requests with a click of a button. T...

  Prime Cost Calculator    Before we get to discussing other restaurant costs, we need to cover  prime costs  (because they include both your labor costs  and  your food costs).    Prime costs are important to know because they are a key indicator of how your restaurant is performing.   In order to calculate prime costs, you will use this formula:  COGS + Labor Costs = Prime Cost.  Now, you can divide your prime cost by your sales, and you'll get your prime cost as a percentage of your sales.  Prime Cost ÷ Total Sales = Prime Cost Percentage On average, you should try to keep your prime costs below 60%.  Since prime costs are an indicator of success, you should try to check your prime costs on a weekly basis. But don't fret if you see discrepancies in your numbers—prime costs will fluctuate, no matter how well you streamline your service and inventory. Knowing where you stand is half the battle. It will help you make ...

  Keywords for Restaurant Accounting Delving into restaurant accounting with limited knowledge can become overwhelming. By learning a few key concepts and terms, restaurants can better understand the accounting process- Cost of Goods Sold (COGS) COGS is the cost of the entire restaurant inventory, such as the ingredients needed to fulfill the menu. The COGS can be calculated per menu item to find how much every dish is worth, determining the restaurant's profitability. The COGS formula is- Beginning Inventory + Purchases Inventory Ending Inventory Restaurant Labor Cost This is the cost of labor required to run the restaurant on an average workday. This expense is typically one of the highest restaurant costs, alongside food. Labor costs include wages for servers, hosts, bussers, cooking staff, and others on the payroll. Accountants must also include payroll taxes, employee benefits, and any overtime. Direct Labor Direct labor refers to the cost to m...

  The importance of profit and loss statements for independent hotels 1. Highlighting capital flows Periodic P&L reports are essential for the success of your hotel, as they highlight where your profits are coming from and where your expenses are going. For this reason it is a key tool you want to make data-driven decisions on expenses and revenue at an operational level. 2. Understanding precisely how each department is performing Your P&L statement provides a close scrutiny of departmental performance across your hotel. It also allows you as the hotel manager to analyse this performance compared with your overall and departmental budgets per week, month, quarter or year. The key benefit is that it provides you with insights to identify financial performance weaknesses and strengths. You can then act accordingly to make improvements, such as through cutting hotel costs, enhancing underperforming areas, or investing in new revenue growth streams. The P&L is of course st...

  Restaurant Profit and Loss Statement Sales Breakdown Costs breakdown: Cost of goods sold (COGS) Labor Costs Operating Costs Net Profit or Loss P&L statement also enables you to calculate food cost percentage, gross profit, and net profit or loss. These metrics can be calculated from your sales, COGS, and costs, and they allow you to fully understand your restaurant's financial state. Restaurant Profit and Loss Template It's a good idea to create your own restaurant profit and loss template so you can customize it to your unique costs. The table below is an example of what your P&L may look like. You can also use our free downloadable profit and loss statement template by clicking the button below. Download Interactive Profit and Loss Excel Sheet Restaurant P&L Table RESTAURANT PROFIT AND LOSS STATEMENT, JANUARY 2021 Sales Week of Jan 9 Week of Jan 16 Week of Jan 23 Food 10,500 9,000 11,000 Wine 2,000 1,750 2,750 Beer 1,250 1,500 1,750 N/A Beverages 1,500 1,500 1,2...