Daily accounting entry for food service
Once a day SmartMy Feast posts one journal entry per Entity for everything the food service did. It covers money taken by mode, wallet and plan advances, revenue as meals are served. Also subsidy and complimentary meals by cost centre, taxes, and, if you choose, food cost and wastage.
PLANSScale only
The problem it solves
- Your accountant types the canteen's takings into the books from shift reports, a day or a month late.
- Money paid in advance for meal plans, tokens and wallets is booked as income, so the books show revenue for meals not yet served.
- The organisation pays part of every staff meal, but the books cannot say how much each department cost.
- Food bought is booked as an expense the day it arrives, so the food cost of a month swings with the purchase dates.
How it works
- On your Entity's Food Service tab, choose the Food Service Journal and the food service accounts. These are revenue, advances, wallet balances, subsidy and complimentary, and customer accounts. Give each payment mode its journal.
- Choose Food Cost Booked. When bought, where the vendor bill is the expense. When used, where the daily entry books what was sold, cooked and written off.
- Your counters sell, serve meals, take top-ups and refund as usual.
- Every night the system posts one entry per Entity for the day before, by the Entity's own date. It sums every sale, payment, wallet move, meal served, closed plan and expired token not yet posted, by account, outlet and cost centre.
- Each bill shows its Journal Entry, and its Reversal Entry if it was reversed. The entry is in your accounting like any other, with its reports.
Everything it does
What the entry posts
- Money in by payment mode, to the account of the mode's journal (cash, bank, card, UPI)
- Wallet payments against Wallet Balances; payments on account, on the fee ledger or by payroll against Customer Accounts
- Items sold at the counter: revenue at once; tokens and meal plans sold: Advance for Tokens and Plans
- Meals served from a plan or a token: moved from the advance to revenue on the day they are served
- A plan closed with unused meals: those become revenue; a refund due becomes owed to the customer
- A token expired without a wallet credit: what was left becomes revenue
- Wallet top-ups and refunds against the money account or customer accounts; credits from plans and tokens move the advance to the wallet
- The Entity's subsidy and complimentary meals: Meal Subsidy / Complimentary, with the bill's cost centre; loyalty points spent go to the same account
- Taxes to their tax accounts; a reversed bill or meal posts the opposite
Food cost (when used)
- Food bought for the stores goes to Food Inventory instead of an expense
- Stock sold or cooked from the food stores: Food Cost (COGS)
- Stock written off as wastage or lost at a count: Food Wastage; stock found at a count: the reverse
- Starts from Food Cost Booked from, set by itself on the day you switch to When used
- When bought (the default): nothing for stock in the daily entry; the vendor bill is the cost
Rules
- One posted entry per Entity and day, reference Food service and the date, in the Food Service Journal
- Lines grouped by account, outlet and cost centre, so the entry stays short
- Each record is posted once; anything missed is taken by the next run
- A sale that has its own tax invoice is booked by that invoice and left out
- Days end at midnight in the Entity's time zone
- If an account or journal is missing, the entry is not made and the records wait for the next run
Who uses it
AccountsChecks the daily entry, the advances and wallet balances, and the subsidy by cost centre; sees each bill's Journal Entry.
Food AdministratorSets the journal, the accounts, the payment modes' journals and how food cost is booked.
Your accountant or auditorReads the entries in the books with the other accounts.
Where you use it
- Web: the Entity's Food Service tab (journal, accounts, Food Cost Booked); Food Service > Configuration > Billing > Payment Modes (journal per mode)
- Web: each bill's Payments tab, Accounting group (Journal Entry, Reversal Entry), for accounts staff
- Web: the journal entries and financial reports of your accounting
- Not built: a button to post a day by hand; the nightly job posts it
What you control
Settings
- Food Service Journal: empty to start with; nothing is posted until it is set
- Food Revenue, Advance for Tokens and Plans, Wallet Balances, Meal Subsidy / Complimentary, Customer Accounts: on the Entity
- Food Cost Booked: When bought (the default) or When used; with When used, Food Inventory, Food Cost (COGS) and Food Wastage
- Journal per payment mode
Works with
SmartMy CampusFood charged to a student's fee ledger goes to the Fee Ledger Clearing account until the fee invoice.
SmartMy HRMSStaff meals deducted from salary are cleared from Customer Accounts by the salary entry.
Questions
Is money for a monthly meal plan income on the day it is paid?
No. It is held as an advance and becomes revenue as each meal is served. Meals left when the plan closes become revenue then, unless they are refunded.Do we still need to post the canteen's sales by hand?
No. One entry per Entity is posted every night for the day before. Your accountant checks it like any other entry.Can we see the subsidy per department?
Yes. The Entity's share and complimentary meals carry the bill's cost centre, such as a staff member's department, in the entry and in Subsidy and Complimentary.What happens if an account is missing?
The entry is not made and nothing is marked posted. Complete the set-up; the next run posts everything not yet posted.Does a tax invoice get posted twice?
No. A sale with its own tax invoice is booked by that invoice and left out of the daily entry.Which plan has it?
The daily entry comes with Scale. In Starter and Growth no journal entry is written; your accountant takes the figures from the shift reports.Related features
ACCOUNTING AND REPORTSDaily sales and meals served reportsSee what each outlet, counter, cashier and item sold and how it was paid. See how many plan meals were planned, opted out, served and missed per meal. The reports open as a pivot, a chart or a list, and the meal figures are built every night.PAYINGPrepaid walletEach customer has a food wallet. It is topped up at the counter or in the office, in Growth also online, and spent at every counter by scanning the card. Every change is an entry that is never edited, only reversed, and a low balance raises an alert.SELLINGMeal plans with opt-outs and creditSell a meal plan for a day, a week, a month, a term or a year, covering the sessions and weekdays you choose. A member who says "not eating" before the cut-off gets that meal back as wallet credit, a refund at the end or an extra day. Joining late is charged only for the meals left.COUNTERTax invoice on a paid orderWhen a customer needs a GST invoice for a counter sale, the cashier or accounts opens the paid order and clicks Tax Invoice. A posted customer invoice is made with the taxes of each line, and the counter payment is registered on it.WITH OTHER SMARTMY PRODUCTSMeals on the student fee ledgerWith SmartMy Campus, students become food customers and their parents their menu contacts. Canteen purchases, meal plans and wallet top-ups can be charged to the student's fee ledger. Mess fees become fee dues with the usual receipts, reminders and late fees.WITH OTHER SMARTMY PRODUCTSStaff meals deducted from salaryWith SmartMy HRMS payroll, staff pay at the canteen counter with Payroll Deduction, for meals or a wallet top-up. The next payslip takes it in one Food Service line, within a monthly limit per employee. What is left at exit goes into the full and final settlement.
See it with your own menu.
Tell us how many outlets you run and how people pay today. We will show you a day in your mess or canteen on SmartMy Feast.