APICBASE offers you the ability to analyse your food cost in depth with its food cost and margin calculation tools. The food cost tools in APICBASE are very powerful, allowing you to define not just your ingredient cost, but also wastage, personnel/production cost and finally it shows you a nice break down of the full prime cost. This article explains how to use this on a recipe level, but the feature is also available on menu level. Go here to create a menu.
How to get there?
To get an overview of the financial aspects of your recipes, follow the steps below:
Some general notes
Explaining the different elements of the financials tab
There are three distinct blocks of information available, the next one always building on the previous one:
Here is a breakdown of all the different blocks:
Cost of One Serving:
The cost for one serving/portionwill give you a summary of your food cost, personnel cost and combine both into your recipe’s prime cost.
Actual profit based on your sell price:
The‘actual profit based on your sell price’ section gives you an overview of the actual margin you’ll be hitting, based on the sell price of your product. If you defined a standard margin for the recipe or your library, it will also give you an insight into whether or not you hit your predefined margin, and the difference.
Target Costs / Profit based on your Target Margin:
The ‘Target Costs / Profit based on your Target Margin’section shows you the difference between your actual sell price / your actual margin and the sell price / margin you ought to set or make.
You can get insights into two different items:
Simply put, the difference between the two is that in the one your prime cost will be used as a base line, and in the other one the sell price. So, if you have a recipe in which you can’t up the sell price, you can select “Calculate Target Prime Cost” and it will show you the prime cost you ought to make in order to reach the required profit margin.
If you want to know exactly on which price you should actually sell your food in order to hit the margin based on the prime cost of that recipe, you select the “Calculate Target Sell Price”, which will then show you which price you should be asking for the recipe.
Finally, the ingredients overview table gives you an overview of ingredients, pricing and quantity per ingredient and per serving. The number of servings can be changed in the ‘portioning’ tab in the recipe overview. You can edit an ingredient by clicking on the pencil symbol. To see which one is the most expensive ingredient, or the most used one, just click on the arrows in the table header to order them according to your liking.
The financial tab with the food cost calculation is also available on menu level. To read more about creating menus, please go here.