Member Since: 21st Mar 2014
4th Aug 2017
Just out of interest, what was the agreed scope of your work when you engaged? Year end accounts only?
4th Aug 2017
I have always found that a proactive approach to the agency concerned is the best way forward, and explaining the situation to them. There is always room for negotiation.
I have in the past negotiated significant reductions or in one case full waiver of the fee as a result - we had temp requirements coming up and I entered exclusivity deal for temps.
As others have mentioned it keeps the agency on side - your reputation will suffer if you try to pull a fast one. These guys are paid to network!
24th Jul 2017
OP - the question is confusing. You may or may not be getting an answer to your actual question.
Recording of waste is useful to work back your GP achieved on your food or your bar sales.
Some restaurants will record waste item by item and make an estimate of the cost of that product - which is how the business I work in do it now for food. It is as a result of high targets on GP margins and a clear focus on reducing wastage.
Others will have 3 bins, one for raw/prep waste, one for cooked waste, and one for returned food - at the end of the day these bags are weighed and apportioned a standard value (based on experience of the typical waste) and these values are used as your allowances in your GP calculation - the benefit with this method is it can help identify where your waste is occurring. If it is at prep stage you can buy alternative products from your suppliers to reduce prep (but assuming the increased cost of the product is less than the value of your wastage/labour time for the prep). If the waste more significantly on returned food - reduce the portion size!
With bars, you would know how many servings you get in any bottle, barrel, etc. You work out your total usage of product, and compare the usage to your sales. Wastage is one of the components of the variance between your assumed usage of product and what you actually sold, and also an allowance in the calculation of your GP margin.
There is more than one way to do this.
As others have mentioned, assuming you are using a method of double entry recording opening, plus purchases, less closing stock you should not have to make any further adjustments to your cost of sales for wastage as it will be excluded from your closing stock.
23rd Jun 2017
Suspect it is due to the number of views. The trending questions I have are 'Display zero as - in excel' and 'how to display negative numbers in excel'.
If you Google these titles, probably fairly common questions for excel novices, the threads are number one in the natural search results.
Would be good to have some sense check in the system to display current trending questions though.
16th Jun 2017
How about a competition for the oldest 'trending' thread?
Any advance on 11 years 11 months?!
16th Feb 2017
Remember is the income for this purpose is the 'Adjusted Net Income'.
So check if they are making pension contributions, salary sacrifice childcare vouchers, gift aid donations, etc.
I know someone who said he (and wife) didn't claim because he earned £60k. However, he made pension contributions of £10k - he wouldn't have had a HICBC to pay and were losing out.
23rd Jan 2017
Thanks for the replies, just to confirm are you talking percentage of cash savings or percentage of valuation reduction? I should have confirmed in my question.
9th Jan 2017
Still need to file a return even though no liability.
3rd Jan 2017
I would use the text to columns function, splitting by delimiter of - (dash), you will have cells with year, month day and time. Then split the text to column by delimiter . on the newly created time column.
You can then in new columns use functions of =DATE(year,month,day) and =TIME(hour, minute, second) referring to the relevant column to create date and time formatted cells.
2nd Dec 2016
You should exclude from turnover.
Turnover is net of discounts, VAT and any other taxes.