Issues All Independent Restaurant Owners Face:
Vendor invoice matters:
Valuable time and resources are wasted dealing with lost, un-posted or unpaid invoices and credits rather than restaurant management.
Unreliable Accounts Payable reports:
As the invoices pile up because you or your bookkeeper fall behind in data entry, you’re never sure what you really owe.
Inaccurate checkbook reporting:
Calling the bank every morning for your account balance is not balancing your checkbook. You lose the ability to forecast cash flow by the frequent handwriting of checks to vendors vs. regular check runs.
Weekly Flash (Prime Cost ) Reporting:
With any of these issues, you can’t produce a weekly report to analyze Sales vs. Prime Costs. In-house bookkeepers often lack the training and experience not only to accurately produce these reports, but to help you analyze them as well. The inability to review, highlight and adjust problem areas in the cost of goods sold, and payroll expenses can cost you hundreds, possibly thousands of dollars each week.
Key income-producing details:
Income is only produced by the time spent on the strategic activities for getting customers to your restaurant and a consistent dining experience that keeps them coming back. Bookkeeping is not income-producing, but it is necessary
If you are getting a monthly Profit & Loss statement at all, chances are you’re not receiving a restaurant-specific format. Only complete and properly constructed financial statements allow you to review your performance at a glance and determine where your earning money and where your not.
We Provide following services for restaurants:
- New Hire/ Termination Entry
- Master File Maintenance
- Import/Entering of Payroll Hours
- Inputting Deductions
- Validating Payroll Hours
- Wage & Employment Verifications
- Profit & Loss Statements
- Balance Sheet
- Cash Flow Statement
- General Ledger
- Inter-Company Accounting
- Fixed Asset Account Management
- Corporate Consolidation Reporting
- Vendor Management
- Tailored Check Processing
- 1099 Management
- Tax and License Processing
- AP Aging Report
- Cash Management
- Period Bank Account Reconciliations
- Daily Sales & Cash Deposit Verifications
- Credit Card Deposit Verifications