The Importance of Effective Record Retention in the Electronic Age by Alisa Pittman Cleek, Esq. In the era of electronic information, employers create and retain records that may never be printed or stored in a file cabinet. However, laws and good business practices require employers to manage, access and retain these records electronically. . . . more >>
How Restaurant Operators Handle Accounting and Reporting Proven accounting processes are an essential building block toward achieving profitability. Timely financial reporting, paying bills on time, and knowing where you stand financially require accounting practices that are efficient and accurate. In this survey, we asked operators to share how they accomplish various accounting-oriented tasks. The results were quite revealing as they showed that operators who adopted good accounting practices were more profitable than those that didn't. . . . more >>
10 Red Flags: Financial Warning Signals You Should Not Ignore by John Nessel Not only is there little room for financial management missteps in the restaurant business, but the problem can be compounded by the lack of business experience and basic financial skills. Here, are 10 warning signals that could spell trouble for your restaurant's financial health, and what to do about them. . . . more >>
How to Account for Discounts & Comps by Jim Laube How your restaurant accounts for discounts, comps and giveaways can make a big difference in the way your P&L is interpreted. Learn the 2 most popular methods to account for these transactions and choose the one that makes sense for your operation. . . . more >>
What You Should Know About Using QuickBooks® in Your Independent Restaurant by John Nessel Many small-business owners, especially those without a background in accounting and finance, are going to gravitate toward the relatively easy-to-use QuickBooks. This article can help you get your financial management process up and running as seamlessly as possible. . . . more >>
How to Create Realistic Financial Projections for Your New Restaurant by Joe Erickson Some would argue that the financial projection is the business plan. Why bother building a restaurant if it's not going to make any money? For potential investors and lenders, the financials are often viewed as the heart of the business plan . . . more >>
How to Select a CPA by Siobhann Kathleen Williams, CPA There are few advisers as critical to the success of your restaurant as a competent certified public accountant(CPA). The right one will know the difference between bill paying, bookkeeping, and financial strategy . . . more >>
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 wha . . . more >>
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