Restaurant Accounting Resources
Seasoned restaurant operators know that to be successful they must do more than simply provide great food and service - they must also make a profit. If you want to turn your good restaurant into a great business then you have to have systems in place to ensure timely and accurate financial reporting.
Our array of restaurant accounting resources provide restaurant operators with valuable downloads, how-to videos, spreadsheets, checklists, articles and more to help them organize and implement their financial reporting systems.
Spot Food Cost Problems by Knowing Your Ideal Food Cost
"What should my food cost be?" - this is one of the most often asked questions by restaurant operators. Considering that food cost, along with labor cost, make up 60-70% of all restaurant expenditures, knowing what your restaurant's food cost "should be" is the first step towards controlling it
DOWNLOAD: Restaurant-Specific Chart of Accounts for QuickBooks
ATTENTION QUICKBOOKS USERS - Using a restaurant industry standard chart of accounts is one of the smartest things an independent operator can do. An industry standard chart of accounts will give you financial information in a much more useful format and enable you to compare your P&L numbers with other restaurants. This specially-formatted Excel file is ready for easy import to QuickBooks using the File Import utility for QuickBooks.
Which Version of QuickBooks® Is Right for Your Restaurant?
While the dominance of QuickBooks within the independent restaurant community remains steady, its usage is changing. QuickBooks online version is not simply a Web-enabled version of the QuickBooks desktop version but a unique program. This article compares and contrasts features of both flavors to assist you in making an informed decision on the best way to meet your current and future financial reporting needs.
DOWNLOAD: 4-Week Periods for 2015 to 2018
If you want to convert to a 4-week, 13 period reporting cycle, now is the time to get ready. This series of Excel worksheets breaks down years 2015 to 2018 into 4-week periods beginning on the last Monday in 2014.
DOWNLOAD: Tip Pooling Worksheet
Use this form for calculating tip pooling distributions. This flexible, multi-plan tip sharing worksheet simplifies the process of calculating and distributing tips based on jobs and hours worked.
Restaurant Accounting 101: Are you prepared for 2015?
One of the keys to creating a turn-key business is to have effective financial controls and accounting system which provide meaningful and timely reports. Check out this quick-reference list of resources to help you understand and implement restaurant accounting basics
ONLINE SEMINAR: Serving & Settlement Controls
Don't let poor cash and internal controls make it easy for people to steal the most desirable commodity you've got, CASH. This program examines the most common ways servers, cashiers, bartenders and bookkeepers steal and what controls you should have in place to protect your business.
WEBCAST: Your Path To Better Numbers - How to Use the Uniform System of Accounts for Restaurants
Management of your organization requires a financial and operational reporting format that reflects the restaurant industry's unique requirements. In this webcast, RestaurantOwner.com Founder and President, Jim Laube and Vice President, Joe Erickson will highlight the recent updates in the NRA's Uniform System of Accounts for Restaurants, a leading guide for preparing and reporting restaurant financial results for 50 years
Take the Worry Out of Weekly Food Inventory
Most independent restaurants calculate their food cost only once a month. Yet, virtually all the major chain restaurants calculate their food cost each week. According to industry averages, chain restaurants (before corporate expenses) are two to three times as profitable as independent restaurants. While weekly food costing isn't the entire the reason, it's part of it.