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Glossary
F&B Cost Control - F. Schuetzendorf class
| Term | Definition |
|---|---|
| Actual food (or beverage) cost | What has actually been spent on food (or beverages) during a certain period of time. Calculated as: actual opening inventory + purchases - actual closing inventory |
| Actual food (or beverage) cost percentage | actual cost, divided by sales, and multiplied by 100 |
| Actual Inventory | A physical count of food & beverages items actually on hand. count of each item * unit cost = total dollar value |
| A.P. | The term refers to the weight or count of a product as delivered to the foodservice operator. |
| Average check (or cover) | Total f&b sales for the period / N° of guests served |
| Average inventory | average amount in $, carried in inventory during a period of time. (Opening stock + closing stock) / 2 |
| Bin cards | A simplified version of the perpetual inventory card. used for keeping a running balance of what the actual count of items is in the storeroom; one card for each item. Ex: Wine |
| Blind receiving | Delivery of good with a packing |
| Book inventory value | value of inventory as follows: Opening inventory + purchases - issues |
| Butcher test | A procedure to determine the standard cost of one standard portion of product portioned before cooking. Also used to determine yield and cost factors. |
| Canned food tests | Tests carried out primarily to ensure that the best net weight yield is achieved after the liquid in which the food is packed had been drained. |
| Charge sales check | Customers who do not pay cash. Pay either with room charge or credit card, that becomes part of accounts receivable. |
| Comp. | short for complimentary. Giving a product without a charge. |
| Control | A process used by managers to regulate, and restrain the actions of people so that the established goals of an entreprise may be achieved. |
| convenience food | Any food that has been partly / fully prepared or precooked prior to purchase. |
| Cooking loss | A reduction in the weight of food as a result of cooking. It comes with evaporation and/or dripping. Generally, the higher the temperature at which the food is cooked, the greater the loss. |
| Cooking, trim and butchering tests: | Tests usually carried out on meat, poultry, and fish items to see which supplier can provide items that give the highest yield of quality desired at the best price. |
| Cost | the expense incurred for goods and services when the goods are consumed or the services rendered. |
| Cost factors | E.P. / A.P. cost factor |
| Cost Of Food Sold | Gross cost of food less the cost of employees' meals and other adjustments. |
| Credit Memorandum | Form filled out when goods delivered have to be returned to the supplier for one reason or another. This form is signed by the delivery driver and is the establishment 's proof that the goods were sent back. The supplier subsequently issues a credit voice |
| C.R.M. Customer Relationship Management | A software platform that provides customer history, order tracking, and sales information online to customer service agents. |
| Delivery hours | Hours during which suppliers of f&b may deliver ordered goods to the establishment. Needs a person responsible for receiving goods |
| Direct purchases | Food purchases that do not go in the storeroom, which are usually perishable and to be used in the next 24 hours. |
| Dry goods | Food considered to be non perishable in the short run. Cereals, bottled, canned a or packaged goods. Issued from the storeroom by requisition only. |
| Electronic Data Interchanged | a dedicated electronic connection usually between buyers and their largest selling partners, used for transfer of purchasing information |
| Employee meal | Needs to be registered differently from regular cost of food, to avoid having distorted food cost. |
| Edible Portion | Weight of a product after it has been trimmed, cooked and portioned |
| Extending a requisition | 1) multiply the quantity of each item listed by its unit price. 2) add individual totals to get the grand total |
| First in First out | Purchased items at an earlier date than others should be used first. This reduces the opportunity for spoilage. |
| Full bottle sales slip | A special beverage requisition form used to record the issue and sale of full bottles of beverages. |
| Gratis to bar | The dollar value of foods given away without charge at the bar that have been previously added to food cost (e.g. olives, nuts...) given to the guest complimentary accompanying the drinks. |
| Grease sales | The dollar value of fats and oils sold to rendering companies. |
| gross profit | food or beverage sales less food or beverage cost |
| guest check | a special type of invoice used in restaurants and other similar food and beverage operations to provide customers with itemized bills for their menu selections / purchases. |
| inventory turnover | the rate of turnover of inventory of food or beverages. Cost of food (or beverages used) / average food (or beverage) inventory. |
| invoice | a bill from a vendor of goods and services, often presented as the goods are delivered or the services performed |
| invoice stamp | a rubber stamp used by the receiver to overprint a small form on an invoice for the purpose of recording the date on which goods were received, as well as the signatures of the several individuals verifying the accuracy of the invoice. |
| Issues | When the food or beverage products are suppplied from storage for use in an outlet. |
| Mark-up | The amount by which the cost of an item is increased to arrive at a selling price. The difference i, dollars between selling price and cost is known as gross profit. |
| Meat tag | a two-part, perforated tag that aids in the control and use of meat |
| Memorandum invoice | if an invoice in inadvertently forgotten by the supplier, then this blank piece of paper can be used to store the supplier's information, date... Until the actual invoice is sent |
| Most recent price | Only the latest recorded price is taken into account when accounting the storeroom. All other previous prices are not taken into account |
| Net sales | the amount of sales revenue (food or beverages) excluding tax and allowances |
| ounce control method | A method for monitoring bar operations that compares the number of ounces of alcoholic beverages consumed at the bar with the number of ounces sold as recorded on sales records. |
| packing slip | brief description of the goods and the quantity or weight. Separate from the invoice, which is a more formal document and includes cost information |
| Par stock | the max quantity of f&b items that should be on hand to take care of normal production requirements. When goods are ordered, the amount should be the same required to bring stock back up to this predetermined par level. |
| Payroll | Total wages and salaries paid by a foodservice operation to its employees |
| Perishables | fruits, vegetables, bakery, dairy goods... |
| Perpetual inventory card | control form for storerooms completed daily from invoices and requisitions. Gives a running balance of the count of items there should be in the storeroom |
| Portion control | Establishment of the quantity or weight that should be served for each separate menu item to ensure consistency. |
| potential food cost | estimated or expected cost to generate a given amount of sales. This will seldom be the same as actual cost calculated from inventry and purchase records. |
| Quotation | Price of an item given by a possible supplier |
| Receiving Clerk's Daily report | Forms used in F&B operations to record data from invoices for goods received on a given day and, for accounting purposes, to distribute purchases into appropriate categories. |
| requisition | a form that allows departments to order supplies from the storeroom. |
| sales mix | the quantity of each separate menu item that customers buy. A change in preferences will change the sales mix, which can in turn can cause a change in the food cost percentage |
| Spillage allowance | A discretionary amount of liquor that management may permit bartenders to not account in for sales, in case of an occasional spilled drink or accidental over pouring |
| Specifications | Guidelines given to suppliers, primarily concerning the quality of goods on which they are invited to quote a price |
| Spot checks | occasional checks of certain control forms or procedures to ensure that the control system is being followed correctly |
| standing orders | orders given to suppliers directing them to deliver specific quantities of perishable items each day. Standing orders eliminate the necessity of telephoning suppliers each day |
| Steward sales | The $ value of foods from inventory sold at cost. These are typically sales to employees. |
| Storeroom purchases | Purchases put into a storeroom under lock and key to be issued by requisition only. |
| Transfers | Products received by one cost center from another. The value of the food or beverages transferred are normally recorded and these values use later for end-of-period adjustments. |
| Yield | What is available of a food product for sale to customers after the product has been trimmed, boned and cooked. |
Created by:
abbenard
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