Since revenues can vary on a week to week basis due to holidays, weather, local events, etc., so should your spending! Being able to identify areas of over or under spending daily and make adjustments to sales forecasts during the week will ultimately help with cost controls, cash flow and funnel more benjamins to that bottom line!
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Restaurant Profitability 101: Weekly Financials
1. I got it! Weekly financials allow
me to keep a finger on the
pulse of my restaurant!
RSI WEEKLY
FINANCIALS
IS THERE A BENEFIT TO WEEKLY FINANCIALS
IN THE RESTAURANT INDUSTRY?
YES NO
Do I feel like I’m leaving any
profits on the table at the
end of the wk/mo/yr?
Do I use weekly reporting to
analyze Sales/Costs to better
manage my cash flow?
YES NO YES NO
Maybe
operating a
restaurant isn’t
for me
Do I have an up-to-date budget in place?
YES
NO
Do I forecast weekly, my
sales, labor and spending?
YES
NO
YES NO
Would I benefit from being able to
see accurate financial statements
every Tuesday?
YES NO
Your short-sightedness is
writing checks your restaurant
can’t cash.
CONGRATS!
$$$ IN THE
BANK!!
Am I able to see an accurate
P/L one week after the
month ends?
www.restaurantaccountingservices.com
RSI's philosophy on weekly financials is pure and simple:
Enable operators to become more proactive and make
necessary changes in real time, thus maximizing profits. You
wouldn’t schedule your patio based on last weeks weather,
so why would you wait to receive financials that are hopefully
accurate when the critical time for assessing areas of
opportunity have already passed?