Spending hours or even days checking stock, counting packaging, making calculations – stocktaking in the catering industry is not an easy process, and if truth be told, there are much more varied tasks than this monotonous and time-consuming work.
However, the advantages of a proper stocktaking are obvious. In particular, a significant portion of your regular goods expenditures can be saved and your inventory management optimized. Typically, restaurants spend about 35% of their operating budget on food purchases, of which 20% can be saved by efficient inventory management. Consistently carried out stocktaking can therefore be a success factor in significantly reducing running costs and increasing the competitiveness and quality of your business.
What is meant by stocktaking in gastronomy?
Stocktaking is the process of recording all existing gastronomic stocks in the accounts. The result is an inventory list that documents in detail all assets and liabilities by type, quantity and value as of the reporting date. The physical stocktaking is the practical part of the inventory, i.e. the stocktaking of goods by counting, measuring and weighing.
Physical stocktaking is carried out in two steps: First, all stocks are carefully counted and listed in the inventory. In the second step, the recorded stocks are compared with the target stocks of the stock accounting. Due to accounting errors, theft or incorrect counting, differences may occur. Subsequently, the values in the books ought to be adjusted to the actual counted stocks. The difference is listed as an inventory change or material usage.
When is there an obligation to conduct stocktaking in gastronomy?
According to Section 240ff of the German Commercial Code, only companies that draw up a balance sheet are obliged to take inventory. Specific exceptions for gastronomy do not exist per se. Sole traders who have not been able to generate more than € 600,000 in sales revenue and € 60,000 in net income in two consecutive fiscal years are exempt from the requirement for stocktaking.
For restaurateurs, this means that stocktaking is not a requirement in most cases. Nevertheless, regular stocktaking can prove to be a great help for one's own company's success. Normally, the stocktaking takes place at the turn of the year. However, for optimized cost management, monthly stocktaking is recommended. Especially with valuable inventory, this gives you better control of the throughput of goods and can reduce your dispensing losses and thefts.
7 tips for efficient stocktaking in gastronomy
- Schedule: Set a fixed date for regular, ideally monthly, stocktaking in your restaurant that is consistently adhered to. Also plan in advance the time required and the approximate time frame for the stocktaking process. Monthly, piece-by-piece stocktaking will significantly reduce the amount of work involved in your year-end stocktaking and save you a lot of stress.
- Preparation: In order for the inventory management to run quickly and smoothly, you should prepare it carefully. Bring order to the rooms where the stocktaking will be done and place the same or similar products next to each other. Set aside spoiled or expired food separately and check the labeling on each item.
- Teamwork: Select the staff responsible for the stocktaking to establish a consistent base. One experienced person can be designated as the main person responsible for putting together a team and assigning individual tasks to other employees.
- Communication: Actively talk to your employees about stocktaking and find out who has enough available capacity to do it. Also, share stocktaking results and sales statistics with your employees to increase your team's motivation by means of open communication of the company's successes.
- Saving resources: Uncover factors such as food waste, loss and theft during stocktaking. This way, you will be able to better plan for the cost of sales required each month to counteract excessive ordering and waste of resources in the future.
- Digitization: Spreadsheets are the first step in making manual stocktaking in gastronomy obsolete. However, if you want to be even more efficient, then you should get stocktaking software for your restaurant that will help you keep a close eye on all your stock. The link to the cash register system also enables an automated reconciliation of your sold beverages and food with the stock and an immediate notification in case of low stock levels.
- Data analysis: Stocktaking without data evaluation is meaningless and only wastes time and effort. Therefore, analyze your inventory list regularly and derive measures and required actions from it. This way, your team will also realize the relevance of the stocktaking process and perform the work more conscientiously.
