Newly-Revised Uniform System of Accounts for Restaurants
The National Restaurant Association's Uniform System of Accounts is back in
print. This latest edition contains many updates, changes and enhancements from
previous editions and was co-edited by RestaurantOwner.com's Jim Laube and
Restaurant Startup and Growth magazine's Barry Shuster
This latest edition reflects the many operational, marketing and
technological changes in the industry over the past decade and has been designed
specifically to assist single-unit and small multiunit operators maximize
the usefulness and value of their financial information as a tool to manage the
ongoing operations of their restaurants.
The organization and accounts used in the Uniform System of Accounts for
Restaurants has been modified and updated in this latest edition. The format of
the statement of income has been reformatted to be more useful in evaluating
key restaurant costs and margins such as prime cost and management controllable
profit. The terminology has been updated and several new accounts have been
added, particularly in the statement of income to reflect the use of new
technology and other operating and marketing practices common in many
restaurants today.
The Uniform System of Accounts for Restaurants is also designed to assist
restaurant bookkeepers and accountants navigate the myriad of often unique
and varied accounting issues of the restaurant industry. This includes
dealing with discounts and comps, server banking, paid-outs, gift certificates,
breakage, service charges and more.
Also, the restaurant controls chapter of the book has been greatly expanded
and includes sections on industry best practices to control cash, food and
beverage, labor and a section on the value of weekly prime cost reporting.
Highlights of the NEW Uniform System
of Accounts for Restaurants:
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Examples of financial
statement formats based on the Uniform System of Accounts for Restaurant for
both full service and limited service restaurants
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Accounting for income such as
cover charges, product rebates, service charges, room rentals, breakage, vending
commissions, etc.
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Detailed Expense Dictionary
to guide in the correct coding of restaurant costs and expenses
-
Checklist on managing your
restaurant's finances
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Simplified recordkeeping for
restaurants
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Sample Chart of Accounts
based on the Uniform System of Accounts for Restaurants
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Description of the restaurant
accounting process and how restaurant financial statements are prepared
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Why many restaurants use a
four-week and not a monthly accounting cycle
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Tax treatment of gratuities and
autograts
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Restaurant accounting and
reporting functions checklist
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Property tax issues for
restaurants
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Restaurant industry averages
and rules of thumb for key margins and expenses
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State and local tax issues
Sample pages from the NEW Uniform
System of Accounts for Restaurants:
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