Accounting Survey Responses
Here's how operators responded to the survey question "Are you satisfied with your present bookkeeping/accounting situation?
Find out more about what other operators are doing in this area and ask questions to your specific challenges in our Discussion Forum.
Very satisfied after using the materials I found on your site last year. Used 13 4 week periods in the past but now using stanadard restaurant chart of accounts. It very helpful to be able to compare to the big boys.
No I am not satisfied du to the delays in information which cause problems in the decision making and may cause costs to raise I would like to find an excellent accounting package that would run under Linux rather than Windows.
I am the owner of two different restaurants. I currently do all the books including payroll and all the p/r taxes. My acct reviews my quartly taxes and handles the property taxes and corporate returns. I currently use QB's basic payroll subscription but am thinking about an upgrade within their p/r options. My annual accoutant's bill for each store is between $800 and $1000. I will hire a bookkeeper/secretary when I acquire a third location. I used to use peachtree but am much happier with QB. My only complaint with QB is the forced upgrades required with in-house payrolls. I hope QB comes out with a POS soft ware system for restaurants that is compatible with their accounting software. I know they are currently selling a POS system for retail stores.
Quickbooks needs to be updated online continuously and that is a major fence in the way to get things done.
I tried the 28 day cycle and found it difficultwith the taxes and some other bills so I switched back to monthly
We switched to the 13 4 week periods in 2002 and love it. we enter sales in daily in q and do our invoices and accounts payables as well so my financials are always a finger tip away i just have to audit my numbers to make sure my costs go into the proper classifications. which by the way you have them listed on your site.
I WOULD LIKE BETTER CHECK SYSTEM, WITH BANK DEPOSIT AND P & L.
I had a poor accountant and bookkeeper for more than 3 years. Hired new bookkeeper and new accountant who understands hospitalitu better than old accountant. Switched to 13 periods, had bookkeeper trained on quick books by accountants staff, developed break even and updated all weekly inventory files.........Also using point of sale computers for more info. Over last 3 years I spent more than 40,000 on accounting.......next year that figure should be less than $6000.00 for the year.
If you will use quickbooks and customize your financials to fit the templates on restaurant owmer.com it works great.My bookkeeper runs the financials within 5 days of the end of the period.We do prime costs weekly.i have 5 restaurants and input data off office p&l into my templates that are on their computers and have a controllable p&l for management witin 3 days of end of week.I like inputing the data at restaurants so i can look for abnormalities.Outside cpa audits us every 6 months.i pay him 1350/mo.retainer and he does franchise tax returns,corporate returns and personal returns as well as 2 audits a year.
In the process of designing system due to new opening. Quick books is great, but if you have an underqualified person entering your data you will have a hard time.
I'm very happy,cocunt code is the best accounting for restaurants
I have to do too much of it. It takes time from strategic long term projects
Quickbooks is handy and convenient and very intuitive, so my bookkeeper was able to learn it quite easily. However, the big problem with Quickbooks is that it can not handle 4 week accounting periods, and can not do food cost and beverage cost percentages. (All percentages are to Total sales!)
Could be happier, but not unhappy.
Our inhouse accouting is very easy to keep up with on the day to day but when a CPA looks at it things tend to get unorganized and misdirected, so I guess the main frustrartion is a qualified CPA
I am satisfied with the detail of information I get, if not necessarily the actual numbers.
NO, because we can't keep up with all of it.
No. CPA will not give enough financial advice
no. we are switching to outsourcing it to our accountant. Training. Timely reports are the two major frustrations.
NO I FEEL THAT ,NONE OF THEM MEET THE NEEDS OF THE RESTAURANT BUSINESS
Yes, I am satisfied.
I wish I could convince the owners/accountants to go to a 13 period cycle - every 4 weeks, so we can compare apples to apples....so far, no such luck.
Yes. Always fun to keep improving in this area.--looking for software
We are not very accountable or timely with our bookkeeping
Turnaround time Would like a product that the Store enters the invoices and it feeds directly to bookkeeper. Want to spend less on the function than we currently spend.
No! Honestly I'am not disciplan Do not Know real numbers then take action and be pro-active
In three years I have been thru three accountants and am in the process of looking again.
I am satisfied, but then I am a small business. I would find it difficult to work this way if I had a much bigger volume (which I hope to do someday!).
No. staff could not religiously update them. inventory still looks confusing to staff not be done properly
Our CPA is very good. However, he has very limited experience in the restaurant industry. Therefore, I am concerned that we are not getting all of the best/correct advice.
The ability to tie in menu sales by catagory, income, from each, contribution
Just changed from Coconut Code to MAS 90. $20k prposal with a 2 month converstion ended up as a 6 month process costing over $50k and we are just beginning to get accurate reports! Frustrations were primarily getting my very capable office manager set up to run the system correctly. Accountant, Software Salesman and Hardware Consultant were all looking for someone else to take the lead in the conversion. I did not know enough or neither did my office manager to really analyze where the break downs were.
$200/month for weekly payroll processing and monthly tax forms seems excessive (15 employees). No restuarant specific advise or consultation
I wish I had started with Quickbooks instead of Peachtree. I would not recommend Peachtree to anyone. The program is not all that bad in itself, but the support stinks. It took me over a year to get the answer to one problem--I do believe only one employee of Peachtree Accounting even knows the answer!! Keeping your own books is a lot of work and very time consuming in my case, but the cost of an accountant here is prohibitive, so I have no choice.
We are having some problems with the software and it is taking much time to correct. However, we do use quickbooks in another non-restaurantbusinessand at home.
*Too expensive to outsource *Quickbooks not well suited to retail (invoices & inventory)
Pretty satisfied but sometimes find that accountants don't understand the restaurant business
Not able to keep up with daily accounting, percentages, etc. Lapse in information processed v actual sales so reactions to sales data/costs not timely.
I'M TRYING TO DO IT ALL ON A SPREADSHEET AND IT CAN BECOME UNWIELDY
My bookkeeper is spread across many industry segments and they really don't specialize in the restaurant business.They're too generic.
not satisfied, no good paper trail to accountant, NRA cost accounts not always used. Supplier invoice not broke out into cost codes.
Accountants are slow in sending final draft, sometimes we are ready for the next cycle. The inhouse bookkeeper runs weekly P & L with quickbooks, but that really is not correct. Also Asking the accountant questions about how something should be done, is like talking to a attorney.
Do not have results until 2 weeks after month is over. Digital Dining does not interface with Quick books.
No. 1. Quicksbooks not industry specific 2. Accounting software not tied in with POS system - must double entry everything.
I am seriously considering changing my software from Peachtree to Quickbooks. I would like to do more inhouse accounting as a cost saver to the company.
I cant input my daily pos report into QB. I would like to run my primary inventory purchase in QB when I write the check to vendor. 7/30/2003 12:05 AM
cpa bank reconcile is late or financials late for the month
No !can't keep good accountant
NO. I feel frazzled and confused!
I am satisfied with my bookkeeping & accounting