One of the most important tasks in business, but also the one that many people dislike the most at the same time, is probably “accounting” or “bookkeeping”. Especially the restaurant business, which has a lot of details and items to buy and use every day. Some entrepreneurs “don’t have time to do accounting” because it is a detailed job that takes time. Do it when you have free time. And many entrepreneurs never have free time like that. So let’s look at a simple guideline for doing basic accounting that guarantees that you won’t waste time having a headache. It will help entrepreneurs know the income and expenses of the business, not “selling well all day, but when you count the money, why is there only a little left?”
When it comes to accounting, many numbers come to mind, but it’s actually not as difficult as you think. Let’s take a look at the easiest way to do accounting, which doesn’t require any technology, just a pen and an account book. Because the first important thing that entrepreneurs must do is to prepare income and expenses, separated into points for easy understanding, as follows:
1. Record daily food sales revenue.
Take all sales bills and record them in the cash receipt book. Record the cash receipts. In the case where you want to separate each menu item, such as how much each menu item was sold for, and how much was paid in total, the business owner must record the items in the daily sales summary sheet to separate each menu item sold each day.
Example of daily sales summary
When the daily sales record is complete, the total amount is recorded in the income and expenses book, which looks like this.
Sample of daily income and expenses journal
2. Record daily expenses such as fresh food, dry food, gas, water, electricity, rent, employee wages, and most importantly, your own wages.
Example of daily expense record table
(* The items and prices in the table are fictitious for ease of reading. It depends on each operator.)
From the above income-expense recording, it can be seen that on 1/10/2020, there was income from sales of 36,800 baht and expenses of 34,700 baht. Today, the business has a profit of 2,100 baht. Why is there only this much money left? From the recording, it can be seen that today, monthly expenses have been paid, namely water, electricity, and shop rent. Therefore, in the case of recording income-expenses during the period when that day coincides with regular expenses such as rent, water, and electricity, these items must be noted as they are not paid on a daily basis.
The benefit of keeping an account of income and expenses is that it allows the business owner to know the sales each day, how much income is there from sales, what expenses have been paid today, how much profit is left, there are reference documents along with the cash on hand, and these figures can be used to control the business as well. For example, is the frequency of seafood purchases too high? What percentage of the purchase price is the sales price? Because in most restaurant businesses, food costs should not exceed 35-45 percent of sales.
See, accounting is not really difficult. Starting from simple basics like this can help entrepreneurs know the health of their business and see the path of financial inflows and outflows to analyze and find the causes to improve income and balance.
But if you want to record income and expenses in a categorized way, encode key data to record income and expenses systematically in Excel, you can learn how to use and download documents for free in the Easy Accounting Online Course, Manage Your Own Restaurant. Let you record income and expenses systematically, making profits (document files can be downloaded after logging in at the top right corner and clicking on the lesson course)
You can also learn about cost and stock management to achieve profit targets, and the things you should and should not do in accounting and taxes, important things that entrepreneurs need to know!
Click here to read more articles.
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