Available in: Agile | Aware | Analyzer | Multi-Outlet
Why it's important
Updating food costs is crucial for accurate budgeting, menu pricing, maintaining profit margins, and effective inventory management. It also facilitates better negotiations with suppliers, produces accurate financial reports, and aids in making informed business decisions. Keeping food costs updated is crucial for your business's overall financial health and success.
How to use it
There are three ways to update food costs:
1) Manually changing a price by editing the ingredient
Click the Edit button in the ingredient
This will open the ingredient.
Change the As Purchased Price and click Save.
2) Uploading an Order Guide
Order Guides contain bid prices. When you upload an Order Guide, reciProfity updates the price of the ingredient. Populating ingredients by uploading Order Guides. Please note that if an item in the order guide is not found in reciProfity, or if an existing item has a different name, the import process will create duplicate ingredients. These duplicates can be fixed by using the Ingredient Merge feature.
3) Entering Invoices
Invoices provide the most up-to-date prices for the ingredients you receive. Additionally, they update on-hand values, which are essential for accurate end-of-period count sheet inventory variance reports.. Invoices - how to enter and upload.