Hi! Joe,
I read your comments concerning the weekly flash report in foodcostwiz.com and indeed it was a great information on financial perspective.
I'd be more happy if you could post me the weekly flash report format to cross check the one I'm doing.
Appreciate it Joe.
Thank you.--
A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty.
Every flash report should meet the number one need - timely information.
Critical operations data should be summarized including the following items:
Forecasted Sales (by category)
Actual Sales (by category)
Scheduled Labor (by department)
Actual Labor (by department)
Purchase Targets (by category - based on forecasted sales)
Purchase Recap (by category)
Overhead Estimate
You can profile the report in columns comparing the actual results to your plan figures. A variance column with appropriate explanations is a plus.
Don't waste time reporting every single accounting transaction. A breakdown of cash, credit card charges, house account charges, etc. will help management forecast cash flow. Labor costs are a prime cost item and you will find excellent tools to manage this activity.
Above all else, make sure the report is published on a timely basis.
