Taking Restaurant Inventory

At the end of each business year and prior to getting started in the new year, all restaurants should be taking restaurant inventory of all supplies, food - perishable and nonperishable and alcohol, wine and beer.

A year end inventory is necessary for your year end taxes and to start the new year off knowing what's in stock, what you sold, what you haven't sold and maybe make adjustments to your menus.

Keep your inventory sheet simple so you or your staff will be able to perform the inventory monthly and always at year end.

We like to create our inventory sheets following how we organize and store our products, making it quick work to get to the bottom line of inventory.


Coolers and Freezers:
   Go shelf by shelf and make a list of all meats, seafood, poultry, dairy, sauces. List each item individually. Add a line at the end for the cost of each item and use your purchase invoices to accurately list the amount of each item.

Dry Storage:
     Although sometimes it's difficult to keep your dry storage areas organized, teach your staff to put everything in it's place where it belongs. This will not only help everyone when they're searching for an item but, is also critical for doing an inventory list quickly and efficiently.

Alcohol and Beer:
     All unused bottles of alcohol and beer are considered profit in your year end inventory. I know you may not like hearing that but, that's how the law and your taxes view your inventory. You bought it, just haven't sold it yet. So, yes it's yours and has to be listed in the inventory.

As you continue to operate your restaurant, you'll find it smart practice to try to use up as much of your year end inventory before the end of the year. Offer sales, reuse what can be used to get a fresh start for the new year and have less inventory at year end.

Make sure to keep this practice in use all year long. Get in the habit of doing a monthly inventory with the prices listed too. This will help you at a glance to see your costs month by month.

If possible, use a computer generated inventory listing such as Easy Checkpoint Point of Sales and Inventory Management CD Rom Software for Windows to make your life easier. We've had Quickbooks and the Easy Checkpoint is much easier to use and doesn't require additional fees or registration after purchase. Nice!

Best wishes as you take on the task of restaurant inventory. Once you get the hang of it, each time will be easier and faster to know what you have and how much it's costing you.
Cheers!