Blog

Bookkeeping Today, Decisions Tomorrow

You may be spending a lot of time focusing on marketing or sales to grow your business. But analyzing your financial information is another important way to gain insight into your business and set future goals. What the Numbers Can Tell You Your profit and loss (P&L) statement, or income statement, is sort of like […]Read More

Employee Retention for Restaurants

What makes a server stay at one restaurant vs. look for work elsewhere? We interviewed a server, Kenzie, at a popular downtown restaurant to find out! Question: What made you choose to work at the restaurant you are currently employed at? Answer: “The company and the bosses are super nice and willing to talk to […]Read More

How Companies are Using IGTV

Instagram recently released a new feature on their app called IGTV that shows vertical full screen videos, up to an hour long, for the accounts you follow. Instagram’s CEO and Founder Kevin Systrom describes the feature as “Just like turning on the TV, IGTV starts playing as soon as you open the app. You don’t […]Read More

5 Tips for Customer Retention

In the restaurant industry especially, repeat customers make up a significant amount of your business. According to investor and entrepreneur Gary Vaynerchuk, the likelihood of a first time customer returning to a restaurant that they enjoyed, is about 40%. If they come back the second time and have another positive experience, there is about a […]Read More

Social Media Tactics for Restaurants

How do people find new restaurants to try? Most people turn to the internet! While having a presence on sites like Yelp is a must, restaurants should also have a presence on social media. Whether you choose to use Facebook, Instagram, Twitter, or a combination of multiple popular social media sites, here are a few […]Read More

Common Mistakes of Restaurant Accounting

Own a restaurant? Need bookkeeping? Send us a message to chat about how we can help. Let’s say you have a great homemade pizza recipe and you want to open a restaurant. You’re a great cook, but you have no business experience. What could possibly go wrong? Restaurants are known to be one of the most difficult […]Read More

How Slack is Changing Workplace Communication

How many emails are currently sitting in your inbox that you have not responded to? Probably more than you would like to admit. Email is an important tool in business communication, but more and more companies are finding that it is not as effective for internal communication. So stop frantically responding to emails that you […]Read More

Is Coffee the New Lunch?

Does anyone really have the time for business lunches anymore? Long business lunches can be daunting, especially if you have never met the other person before. You may also lose precious time that could be spent in the office doing work. So pack yourself some leftovers from last night’s dinner to avoid spending money or […]Read More

Coworking

What happens when a startup company has no office? Of course, working from home is an option. After all, with all the technologies companies use now it is easy to stay in touch with co workers or clients. But there are some problems associated with working from home. How do you know your employees will […]Read More

In Depth Look at iReport Source

iReport Source is the only integrated digital workspace to manage workers’ compensation and safety to lower cost and improve outcomes. They empower businesses to move from a fault-finding to fact-finding collaborative safe, happy, and healthy workplace. https://youtu.be/GinduhQz8qoRead More

Custom Website by WeGo Unlimited | Cincinnati Website Design

Call a Service that Knows what Makes Bookkeeping for Restaurant Owners Different

Restaurants are not like other businesses. Their structure calls for special accounting methods and benchmarks. Restaurant-savvy bookkeepers know what “good” industry financials look like, and which Key Performance Indicators need an owners’ focus. Bookkeepers who serve restaurants can analyze your monthly financial reports to discover operational problems, cost leaks and income/outgo trends that require action right away. Bookkeeping firms with restaurant expertise can also save you money, freeing you from energy- and time-sinking daily record-keeping. When considering an outside bookkeeping firm, ask if they have restaurant experience with companies of your size. Ask if they keep a defined, simple Chart of Accounts for these clients. They should break sales and direct costs into Food, Beer, Liquor and Wine, and categorize payroll by Front of House, Back of House, Management and Owner. They should also maintain Rent, Utilities, CAMs and Security as occupancy expenses, and offer a cloud-based POS system.