Accurate inventory counting ensures that you don’t order too much—or too few—of the products your business needs. Here’s a recipe for a perfect process for counting your inventory. Bon appetit!
Before we get cooking, here are a few helpful hints:
- List everything you sell, and be specific. Let’s say you’re a restaurant owner. List food items, ingredients, drinks, etc. If you have something like syrup that has lots of flavors, list those too.
- Split your inventory list into 4 columns. In column 1, write the item name. In column 2, write the unit price of the item. In column 3, write the amount of the item you have in the appropriate unit of measurement (weight, quantity, etc). In column 4, write the total cost of ingredients you have. (You can find a blank template online)
- Update the list once a month. Add new ingredients you use and take off older ingredients you don’t need anymore.
If you’re ready to cook up your own perfect process for counting your inventory, let’s get cooking!
Simple Inventory Counting
Essential ingredients
- Calculator
- Inventory list of all the items you sell (food, ingredients, drinks)
- 4 hours of time
- Pen
Optional ingredients
- Patience
- An employee to count for you
Directions
- Create an organized inventory list for all food, drinks, ingredients, etc. you sell at your restaurant. (See tips above)
- Pick a time once a month to count your inventory. It can be early in the morning, before any customers come in, or late at night. You can even pick a day you know you’re not normally busy. The end of the month usually works best for accountants.
- Delegate the task of counting to an employee. You’re busy, appoint someone else to do it.
- Have the appointed employee do their thing, making sure they are recording the ingredients on your inventory list and paying attention to sizes, quantities, etc. When they are done, have them return the list to you.
- Put the inventory count into your software. Record any major variances for discussion.
At Pretty Books, we are always whipping up new and helpful ways to keep your business moving. While there are tons of ways to prepare these processes, we believe that this one is the best. Enjoy!
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