Part of ABC Consulting’s consulting services includes business coaching about what you MUST do, WHEN to do what, what you CANNOT do and etc. etc. This blog is about Recordkeeping.
It is terribly important that your Point of Sale (POS) receipts, cash register receipts, sales ledger, etc. are reported per VA ABC Authority’s requirements. Your sales must be broken down into daily, weekly, AND monthly reports. In addition, every single sales ticket (to include cash sales and buffet tickets) must be kept, and attached, to your daily report. This report should indicate the following:
Sales
- Entrees (items with sides, buffet, or substantial meals such as spaghetti)
- Other Food (appetizers, side items, desserts)
- Non-Alcoholic Beverages (soda, tea, coffee etc.)
- Wine & Beer (this is the only category that can be combined)
- Mixed Beverages (this include liquor, shots, mixed drinks, and mixers)
- To Go (these items cannot count towards your minimum sale requirement or ratio.)
- Miscellaneous (hookah, tobacco, calendars, shirts, etc)
Purchases
- Food and Non-Alcoholic Beverages
- Wine & Beer
- Mixed Beverages
- Miscellaneous
Sales total must be less sales tax and not include Discounts/Comps. For example:
$10.00 Burger
+ $1.00 Sales Tax
= $11.00
– $5.00 Employee Discount
(Therefore, your Reported Sales Amount is $5.00)
Mixed Beverage Minimum Requirements:
- Entrees is $2,000
- Total Food is $4,000
Wine and Beer
- Entrees is $1,000
- Total Food is $2,000
(Please Note: Totals reported must match what is reported to the VA Dept. of Taxation).
Last thing we’ll say about this is that you should keep all sales records for 2 years. For 10 years, ABC Consulting has been offering a complete line of education and consulting services and we’d love to serve your business, too. What can we do for you? How can we help your business become more safe, solid and knowledgeable? 800.785.0161
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