Administrative Systems. With a limited staff, it is crucial that the Owner/s remain current with daily cash outlay. The purchase of a POS system will immensely help them with these daily administrative reports: Daily Cash Control. Sales and receipts recorded by the POS system will be compared to actual cash and credit card deposits on a daily basis. Acceptable over/short amounts will be limited to $5.00 per day. Discrepancies greater than $5.00 will prompt management to conduct an immediate audit to account for the difference. Monthly totals will be compared to actual P&L statements for accuracy. Cash, debit card and credit card receipts will be deposited in a deposit. Owners will prepare a weekly report that shows the gross profit margin after cost of goods sold and labor cost has been deducted from the sales revenue. The prime cost for this type of venue is expected to range from 60% to 65%. Proper control of the prime cost is the single most effective measure of management’s ability to operate BIG MA’S KITCHEN. Purchasing Records/Payables. A part time bookkeeper will process and record invoices and credits daily. Reports detailing cash expenditures, payments by check, and accounts payable transactions will be readily available. Check disbursements will be prepared by the bookkeeper. Check signing authority for the general operating account will be given to the General Manager. Payroll checks will be issued weekly. The Owner/s will run reports from the time & attendance system, make necessary adjustments, and prepare for transfer to the payroll system.
Appears in 2 contracts
Sources: Non Disclosure and Confidentiality Agreement, Non Disclosure and Confidentiality Agreement