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Monthly Budget Review Checklist
Revenue Analysis
Review total sales against the previous month and the same month last year
Analyze revenue streams by category (food, beverages, delivery, etc.)
Check for any unusual or unexpected fluctuations in revenue
Expense Tracking
Examine labor costs and compare with labor budget
Review food and beverage costs and check for variances from budget
Assess all operational expenses including utilities, rent, and maintenance
Profitability Assessment
Calculate the gross profit margin for the month
Compare actual net profit against the budgeted net profit
Identify areas with potential to reduce costs or increase revenue
Budget Forecasting
Adjust next month's budget based on current month's findings
Consider upcoming events or seasonal changes that may affect the budget
Set financial goals for the next month based on performance trends
Inventory Management
Review inventory levels and compare with sales data
Identify any discrepancies in inventory usage
Plan for inventory purchases based on sales forecasts
Debt and Loan Management
Check the status of any outstanding debts or loans
Ensure all payments are made on time to avoid penalties
Review interest rates and terms for possible refinancing options
Tax Planning and Compliance
Ensure all tax-related documents are properly filed
Set aside funds for any upcoming tax payments
Consult with a tax professional to identify potential tax savings
