#HOME FOOD INVENTORY TEMPLATE EXCEL HOW TO#

The Cost of Goods Sold is calculated on a weekly basis but can also be calculated for the entire period. What is Cost of Goods Sold?Ĭost of Goods Sold is calculated as sum of the 'Cost of Inventory At Opening' and the 'Purchases' minus the sum of 'Cost of Inventory At Closing' and the 'Staff Meal Allowance'. It is clearly indicated in red colour to seek your attention. While positive values indicate good performance, negative values indicate loss, which is not good for business. Cost variances can be positive or negative values. What is Cost Variance?Ĭost Variance is calculated by multiplying Variance with Net Receipts. 'Targeted Profit Margin' percentage is the planned value of growth.

Negative variance indicates low performance against your plan. The Variance can be calculated by subtracting 'Targeted Profit Margin' from 'Gross Profit Margin'. Total gross profit is the difference of the 'Gross Receipts' and 'Net Receipts' (Less sales tax). Since the stock is managed on a weekly basis, you can easily get an overall summary of the entire month using the Period Summary report.

#HOME FOOD INVENTORY TEMPLATE EXCEL HOW TO#

How to calculate Monthly Gross Profit Margins and Variance? You can also see the entire overview of your food stock on one page at any point of time in a month under the Period summary report. You will have accurate stock take figures every week. This template gives you the exact variance on the basis of purchase log, stock count and stock closing values. This is a very simple and easy to use template hence training of your team members on 'How to take the stock?' can be done easily. We recommend taking the stock at the same time/same day. Once everything is recorded, you are ready for recording the opening stock and tracking stock movement, week by week. This template gives you the flexibility of establishing the correct measure of your stockline by defining the 'Unit'. You can also record the cost of purchase unit, number of units purchased, count and cost of units. You can record the quantity of the purchased units, cost of the purchased units, count, category and cost for the entire food stock.Īfter this, you can create inventory list which includes entering the food item name, category, purchased units as per the size or description like if it is packed in case, bag, can or measured in lb, kg, etc. This template can be used for different countries as it allows country specific tax settings. Begin by downloading the template and setting up your company.

Home food inventory template excel