When you’re starting a new restaurant business, it’s essential to know what your options are. For example, some business owners operate as sole proprietorships, and others choose to incorporate. But what about LLCs? Can restaurants be LLCs? If you’re considering opening a restaurant, you might consider going the LLC route. You’ll want to read on […]
A Restaurant Chart of Accounts that Any Bookkeeper or Accountant Can Use
Are you trying to find the perfect chart of accounts for your restaurant? Well, look no further! If you have ever been involved with a restaurant in any shape or form, you know that it’s not easy — from human relations to cash flow management, the restaurant business is tough. One of the few businesses […]
Restaurant Payroll Journal Entry
The restaurant payroll journal is one of the most popular journal entries within the world of accounting. Want to know how to make a proper restaurant journal entry? Find out in this post! Payroll is complex as it includes wages from both hourly and salary employees, their tips, bonuses, and taxes. For restaurants, payroll is […]
Restaurant Sales Components (Understanding Your POS Report)
In this article, I will walk you through each of the sales-related accounts that show up on your Point of sale report, what they are, and how to treat them. I recommend getting acquainted with my Chart of Accounts configuration in my post: A Restaurant Chart of Accounts that any Restaurant Bookkeeper or Accountant Can […]
Record Daily Restaurant Sales Using Journal Entries
Restaurants like any other business, succeed or fail based on what happens in the “back office.” I know from personal experience that a restaurant can have fantastic food, friendly staff, and an excellent location, but if the restaurant owners and operators don’t have good financial metrics or even understand these numbers, the restaurants run will […]
Restaurant Month End Close Accounting Checklist
Are you looking for a month-end close accounting checklist for your growing restaurant, bar, or café? You are in the right spot, as this post offers a free excel download of this checklist and an in-depth overview. What separates a successful restaurant business from a failing one? I get this question all the time, restaurant […]
Restaurant Purchases Versus Cost of Goods Sold
Most restaurant owners and operators don’t know the difference between purchases and cost of goods sold for their restaurant. Isn’t it time you understood and got a leg up on your competition? Keep reading as this post covers exactly that! All tables are full, reviews are good, everyone is leaving those restaurant doors with a […]
Why Your Restaurant Needs an Accountant or Bookkeeper
Have you ever thought about hiring a bookkeeper or accountant to help with your restaurant finances? If you have, then you are in the right spot. Simple bookkeeping is an easy skill to learn. Most restaurants, bars, and cafe owners believe that they can do it themselves. Yes, they can do it themselves, there is […]
