One of the biggest reasons to role through the accounting cycle every week (and even take an inventory every week) is to make sure you are on top of your Cost of Goods Sold.
Cost of Goods Sold are the items you actually put in the glasses and on the plates of your guests. It is imperative (to use a big boy word) that you monitor your COGS weekly when just opening. You might be…Read more
This is a 7-step process that will not only pay your vendors on-time but will give your weekly financial information about your business. It will allow you to keep your finger of the pulse of your business and make real-time decisions as your market changes.
So, what is it you ask? It all starts with your sales numbers from your POS system and you previous weeks invoices. Gather up…Read more