Question 1

What is a hospitality stocktake?

Accepted Answer

A hospitality stocktake is a detailed audit of all food, drink, and consumable stock held by a hospitality business. It helps identify losses, monitor sales accuracy, and improve gross profit margins.

Question 2

How often should I have a stocktake done?

Accepted Answer

Most hospitality businesses benefit from a monthly stocktake, but some choose bi-weekly or quarterly audits depending on their size, turnover, and control needs.

Question 3

What does a stocktaker check during a stock audit?

Accepted Answer

An ILTSA stocktaker checks all stock on hand, purchases, wastage, sales data, and operational practices. They identify discrepancies and provide a detailed report to help you improve profit margins.

Question 4

How can stocktaking help improve my business's profitability?

Accepted Answer

Regular professional stocktaking highlights areas of loss, prevents theft and wastage, ensures accurate pricing, and provides data-driven insights to optimise your purchasing and stock control.

Question 5

Are ILTSA stocktakers qualified?

Accepted Answer

Yes, all ILTSA stocktakers are professionally qualified and accredited through the Institute of Licensed Trade Stock Auditors, the UK’s only qualifying body for licensed trade stock auditors.

Hospitality

Hospitality

Hospitality Stocktaking Services

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