How to conduct a food stocktake
The purpose of counting the food is to put a value on all of the food stock on hand. This includes all consumable food stock including breads, sandwich fillers & sauces, meats and coffee.
This post will show you how to conduct the stocktake and also how you should record the necessary data in an excel sheet.
- Creating the excel document – This is used to record the stock on hand.
Sheet 1 – this should have headings such as
- Gross Sales – Incl VAT
- Net Sales – Ex VAT
- VAT amount
- Opening Stock – if it’s the first stocktake then the Opening Stock will be Zero. If a second count then the Opening Stock should be the Closing Stock from the previous stocktake
- Closing Stock – the total value of stock on the day of the stocktake
- Purchases – Total purchases for the period ex VAT
- Cost of Sales – Opening Stock + Purchases – Closing Stock
- Gross Profit – Net Sales – Cost of Sales
- Gross Profit % – Cost of Sales / Net Sales x 100
Sheet 2 – The Data Entry Sheet – This is used to record all stock items.
The columns to have in it are
- Column 1 – Product name
- Column 2 – Unit of Measure ie: case, kg, individual, pack of 6 etc
- Column 3 – Unit Cost – Ex VAT
- Column 4 – Quantity on hand
- Column 5 – Total Cost – Unit Cost x Qty on Hand
- Preparing for the stocktake
- Have the correct equipment – Weighing scales, clipboard and paper, uniform including white coat, gloves and hat.
- Ensure that all fridges and freezers are clean and are easily accessible with labels facing out
- All stock is identifiable
- You know the correct cost of a portion of the product you are counting
- Have the cost prices of all dishes updated on your Data entry sheet as above. You can use this sheet to record the stock
- The counting of the stock
Record all stock been counted in the data entry sheet
Weigh all meats, fish and high value items
Count the units of the remaining items of stock
- Transferring the data into the Excel sheet
Simply take the totals from your count sheet and then enter them into the excel sheet.
Total up the values and this then forms your closing stock total. If this is your first stocktake then this is your opening stock value for the next stocktake
- Calculate the purchases for the period
If this is the first stocktake for you to complete then the purchases are zero.
On your second stocktake, say in a week’s time, you will record the total value of the purchases received ex VAT
Ensure that the dates on the delivery dockets are are within the period
- Enter in the sales
Your sales reads from your EPOS (Electronic Point of Sale) will tell you what your sales are for the period.
We use the Net sales figure for profit calculations
- Calculate your GP (Gross Profit)
Using the above process in Step 1.
Your stocktake is now complete and you have your Gross Profit.
Now its time to analyse the data, the result, and how improvements can be made in increase your GP. This can include reviewing your cost prices, portion control, count practices, menu analysis etc.
That’s a story for another day.
Patrick is Managing Director of Stocktaking.ie, Ireland’s leaders in outsourced stock control. Stocktaking.ie use the best staff, systems and technology to assist customers nationwide in ensuring that the hassle and stress is taken out of in-house stocktaking.