The work of any restaurant requires accounting for all generated profits and losses incurred. These indicators for each establishment can be very dynamic, changing by days and seasons, so it is necessary to work constantly in order to notice negative trends in a timely manner. For this, a profit and loss statement is drawn up.
Features of the process
This document works as an information document, shows profits and losses for a specific period of time. It also allows you to get a picture of changes in assets and liabilities, which makes it an analytical tool.
If we talk about interaction with government agencies, the report allows you to calculate the taxable base, get an idea of the structure of payments and their amount.
There are two methods:
- Cash, when all sales and expenses of a catering enterprise are registered. Suitable for beginning restaurateurs and small establishments. It is less expensive, does not require significant investments and maintaining a large staff of accountants.
- The accrual method works taking into account all costs as they arise, does not require confirmation of the fact of receiving cash or non-cash funds. It is more complex, requires more detailed documentation, but allows you to more accurately track all aspects of financial activities.
Preparation of the report
It is necessary to prepare it regularly depending on the size of the restaurant or chain, to form it according to the selected periods that will accurately reflect the state of affairs, will allow to avoid fluctuations taking into account the days of the week or seasons.
It is important to accurately regulate profits and expenses, promptly identify and respond to changes of a positive or negative nature. By regularly filling out such documentation, you can have a basis for comparing different periods, and accurately see the trends.
