This article covers a wide range of checklist items:
- Daily Tasks
- Tasks before/during Inventory
- Other Tasks
And this is broken up into two separate groups, depending on how frequently you take inventory. This article covers those who take Inventory Weekly. For those who take Inventory Monthly (or Periodically), click here.
For restaurants that count Inventory Weekly
Use this cheat sheet to make sure you are on top of all things MarginEdge on a day to day basis in your restaurant.
A few minutes a day keeps the [me] doctor away…
Daily Tasks
| Task | Why? |
Frequency/ Recommended Day |
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Upload Invoices to [me]
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To record your expenses into [me] for you invoices to be processed and then sent to your accounting system |
Daily Daily Daily! The more frequently you send the information, the faster the system is updated and the more live the data is! A lot of Vendors support EDI integration, check out our list of Vendors here |
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Record all Internal transfer of goods (If you transfer products from one restaurant to another)
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To ensure the costs are reflected in the correct restaurant | We recommend you do this daily as close as possible to when you physically moved the goods |
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Record Waste
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If you are interested in tracking waste through the system and using this data to analyze your total waste across the business | We recommend you record this daily. It can be logged in the minute using the app. You can also download an printed sheet which you can place in a high traffic area, this can be written on and the wastage recorded into Margin Edge at a later date |
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Approve Invoices (only if using this feature)
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Approving your invoices is the final step to closing them out and allowing them to be available for reporting and exporting. | We recommend doing at least weekly, but preferably daily, to ensure all invoices are closed and available for your accounting team to export/pay |
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Close out Commissary Orders / Mark as Shipped (Commissary users only)
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We strongly recommend this is done on the day the items arrive in the restaurant. There is currently no functionality to be able to bulk change these dates to backdate deliveries. (Ask us if you want to enable auto-ship on these orders.) | Daily! Managing this in a very timely manner will help ensure accurate cost reporting. |
Weekly (before/during Inventory)
| Task | Why? |
Frequency/ Recommended Day |
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Review Count Sheet (Only if using Sheet to Shelf!) |
Reviewing the Count Sheet for any New Items and dragging them into the Categories/”Sheet to Shelf” they belong in will speed up the Inventory counting process and ensure you do not miss counting any new items. |
Just before starting counting Inventory PRO TIP: This is particularly useful to do if you have just gone through a seasonal menu change to make sure your count sheet is organized before commencing Inventory |
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Count Inventory
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To update your Inventory balances with the new Inventory on hand, to keep your COGS % accurate |
Weekly, typically on the last day of the week, or the morning of the first day of the week Make sure you date your Inventory on the last day of the period, some advice on this can be found in this article Make sure your inventory is closed to view the Theoretical usage & Inventory Summary reports (see later sections for more on this!) |
Weekly (after counting Inventory)
| Task | Why? |
Frequency/ Recommended Day |
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Review Inventory Summary Report
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Key things to check on this report;
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Weekly - Just after counting Inventory |
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Review Theoretical Usage Report
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Once you are happy your Inventory is correct, the next step is to look at the results (Actual) and compare them to theoretical (Target) PRO TIP. Use the “Difference Value” or slider to condense the report into only items with a variance higher than a specific $ amount, it makes it quicker and easier to highlight any issues |
Weekly - Close the Inventory, check the Inventory Summary then review the Theoretical Usage Report |
Other Tasks
Below is a list of recommendations to keep [me] running in tip top condition. The frequency in which you review these items will depend on your organizational goals and how your individual business runs
| Task | Why? |
Frequency/ Recommended Day |
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Recipes Audit
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From time to time, recipes change, quantities are updated or presentation changes. This audit just makes sure that the recipes you have in [me] accurately reflect what is being sent out of your kitchen | We recommend you do this on a quarterly basis or more frequently if your menu is changing more frequently. |
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Use the purchase export to check pricing on products across your multi unit business
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If you are a multi unit user of margin edge and you want to check product pricing across your units, we highly recommend familiarizing yourself with a how to guide to use the purchasing export tool to analyze your data PRO TIP! If you want to make sure your units all are buying product in compliance EG - buying the same Chicken at the correct price, this tool is especially usefil |
If you want to review pricing across all units regularly, then run this weekly preferably on a Monday/Tuesday once your invoices have closed out for the previous week. Otherwise, Monthly would be sufficient! |
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Pricing Audit
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To ensure you are paying your contracted prices with Vendors, to keep an eye on pricing that has increased so you can react accordingly PRO TIP! We recommend that to assist you in the day to day management of vendor pricing, you set up “Price Alerts” in [me] to alert you automatically when a vendor invoices you for an item that is higher than the threshold you set. This will enable you to address any issues in the moment. If you want to set this up, checkout this article here |
We recommend you view the Top Price Movers report on the Dashboard summary on a regular basis for spikes in pricing. Depending on how price sensitive your business is, this could be Daily, Weekly or less frequently | |
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Review PMIX mapping**
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On the Theoretical Usage report, a window will appear telling you “You may not be seeing the full picture” if 100% of your POS sales lines are not mapped to a recipe in [me] - don’t want to map everything, that's cool, skip this one! If you do want everything mapped, make sure to check this on a regular basis. If 100% of the sales are not mapped, the Theoretical Usage report will not tell you the whole picture! PRO TIP! When you onboard with MarginEdge, the last step of the puzzle is to do your PMIX mapping. Once that has been done, this should only need to be updated when you add new menu items to your POS. We sometimes see it needing to be reviewed on a regular basis when POS users enter a lot of “Open Food/Beverage” items on the POS |
Weekly if you want the reports to be super duper accurate If you are cool with not 100% being mapped 100% of the time, then monthly |
** PMIX mapping may be coordinated by your finance/ops head office team in your organization. If you see the message popping up on the Theoretical Usage report “You may not be seeing the whole picture!” you may want to reach out to the relevant team within your organization that is the point of contact to correct this. Your organization may have chosen not to map every recipe