Webinar/Podcast
Restaurant Accounting for QuickBooks
Tips and Techniques for Using the Uniform System of Accounts with QuickBooks.
The Uniform System of Accounts for Restaurants has been designed specifically to assist single-unit and small multi-unit operators maximize the value of their financial information as a tool to manage the ongoing operations of their restaurants.
In this webcast, Joe Erickson and Jim Laube demonstrate various tips and strategies for setting up QuickBooks Desktop and QuickBooks Online to conform with the Uniform System of Accounts for Restaurants.
What You Will Learn:
- How to import the USA recommended chart of accounts
- Using accounts and sub-accounts to achieve USA recommended report formatting
- How to use memorized reports for 13 4-week accounting periods
- Recommended sales recording methods
- Restaurant specific journal entries such as payroll accruals, inventory adjustments and other period-specific recurring entries
- Correctly accounting for gift card sales and redemptions, sales tax, charge tips and other non-sale income
- Exporting and customizing the Profit & Loss Statement
- And much more...
About the Presenter:
Joe Erickson
Since 2004, Joe has been an integral part of RestaurantOwner.com. He has owned and/or managed several restaurant/catering operations. He started his career by developing Luther's Catering, a division of the Luther's BBQ chain, in Houston. He was also a partner and co-founder of Sunset Dinner Cruises and was the founding partner of Bobby Mac's, a casual, full service restaurant in Kerrville. He later helped to develop a southwestern bistro, Nicole's Cafe San Felipe, and was managing partner for the original Truluck's Steak and Stone Crab, which now has 11 locations throughout the U.S. Joe is focused primarily on developing easy-to-implement, yet highly effective systems and processes to help our members improve their restaurants' efficiency, product utilization and most importantly, deliver a more consistent guest experience.
This video is for members only, below is a short preview clip. To login and watch the full video Click Here.
Related Resources:
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Download
Restaurant-Specific Chart of Accounts for QuickBooks Desktop
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 ...
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Download
Restaurant-Specific Chart of Accounts for QuickBooks Online
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 ...
-
Download
Profit and Loss Report Template for QuickBooks
Use this template to convert your QuickBooks Profit & Loss (income statement) to an industry standard format, including proper cost of sales percentages and prime cost ratios
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Download
Period End Journal Entries for Restaurants
The Period End Journal Entries can be used at the end of each accounting period to help standardize the monthly process. A routine procedure can be established by a bookkeeper and maintained by an administrative assistant or a management person.
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How to Account for Discounts & Comps
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.
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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 ...
