Expenditure Ledger
The Expenditure Ledger records the expenses incurred during the month.
There are two types of expenses: cost-of-goods-sold (COGS) expenses and overhead expenses. The Expenditure Ledger has a separate page for each type.
Cost of Goods
In the Cost of Goods section of the Expenditure Ledger you record what the canteen paid for all stock available for sale that it purchased during the month. This includes:
- Stock bought as ingredients for canteen prepared products (eg bread)
- Wrapping materials
- Packaging
You get these figures from the month’s Cheque vouchers and from your Petty Cash Record.
Please see the “Expenditure Ledger – Cost Of Goods Sold” template.
Expenditure Ledger Overheads
In the overheads section of the Expenditure Ledger you record all payments relating to the running of the canteen other than the purchase of stock for sale, such as:
- Wages and tax payments to the Australian Taxation Office.
- Purchases of equipment, canteen stationery, tea and coffee for canteen staff, etc.
- Payments put aside in another bank account for employees’ long service leave or equipment depreciation (see below).
- Payments put aside for a donation to the school at the end of the term (see below).
See the “Expenditure Ledger - Overheads” fact page.
Planning pro-rata expenses
Pro-rata expenses are payments the canteen will be liable for at a future date. The most important are the school donation, employee long service leave and equipment depreciation. Although these expenses do not have to be paid until some time in the future the canteen should put money aside towards them each month.
To provide for their future payments:
1. Divide the total amount payable by the number of days you have to pay. This gives you the amount due per day.
2. Multiply the daily payment amount from step 1 by the number of working days since you last paid.
3. This is the amount you need to put aside each month.
Example for a school donation
- Suppose at the end of the term the canteen wants to give $1000 to the school, and that there are 10 weeks in the term. You want to know how much money to put aside each month.
- Since there are 50 school days in the term, the canteen will be able to make the payment if it puts aside $1000/50 = $20 per day.
- If the end of the first month occurs after 20 school days, you should put aside 20 x $20 = $400.
- If the end on the next month occurs after another 18 school days, you should put aside 18 x $20 = $360.
Download an Expenditure Ledger here
Source: Management $ense, Food Sense, 1997.