So, instead of food, you could list:Ĭalculating COGS isn’t always easy. To keep track of your costs, you may choose to break some of these categories down further. Some of the line items here will match the line items in the sales column, such as: In a restaurant income statement, COGS relates to your food and drink costs. However, if you add a service charge, you should include this as income. Normally, you’ll break this figure down into subcategories such as:ĭon’t include tips paid directly to staff even if the gratuity is processed as a card payment. Here are the things you need: SalesĮffectively, this is the total of all the money that’s been received in the till. Restaurant income statements require up-to-date and accurate information. Restaurant income statements: What data do you need? Whatever way you approach them, you’ll need accurate data to make these documents work for you. You can also prepare them for shorter periods, such as a month or even a week, and keep a tight grip of your finances. Income statements can cover a long period, such as a fiscal year. Also known as a Profit/Loss Statement, the income statement provides an at-a-glance view of your income, outgoings, and overall profitability. When it comes to bookkeeping, every restaurateur wants to know just one thing: are we making money?Ī restaurant income statement will tell you exactly that.
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