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Restaurant Accounting
Full Service, Cloud Based Accounting...Catered to you
Whether you serve wings, burgers, cupcakes, or coffee...
In a Restaurant...from a Food Truck... in a Corporate Kitchen...or even from Home….
Your business is unique, and your accounting needs are too. Whether you have 20 transactions a month or 200, our restaurant accounting solutions are tailored to the immediate needs of your business. Our accounting services are customized to meet your needs, no matter what stage you are in.
Our Restaurant Accounting Solutions are offered at 3 different levels:
BUSINESS
MANAGER
MONTHLY
ACCOUNTING
VIRTUAL CONTROLLER
WEEKLY ACCOUNTING
VIRTUAL
CFO
FULL SERVICE ACCOUNTING
Which is best for you??
What's Included | Business Manager | Virtual Controller | Virtual Accounting Office |
|---|---|---|---|
Service Type | Reactive | Proactive | Strategic |
Bookkeeping | Monthly | Weekly | Weekly/Daily |
Monthly Financial Statements | |||
Monthly Financial Review Video | |||
Business Review Meeting | |||
Weekly Flash Report | |||
Annual Budget | |||
GAAP Accounting | |||
Cash Flow Management | |||
Daily Sales and Cash Reconciliation | |||
Weekly Cash Forecast | |||
Profit Planning | |||
Accountability Sessions with CPA |
Business Manager
This solution provides a hybrid approach to your accounting where you handle the day to day responsibilities and we handle the month-end closing procedures. Monthly reports provide detailed analysis on your performance, including revenue and profitability, food and labor costs, and cash flow.
Services include:
Account Reconciliations
We will match your bank, credit card, and merchant account statements to your accounting system to ensure all transactions are properly included and classified
Financial Statement Preparation
We will prepare a balance sheet and income statement to show the results of your operations for the month and compared to the prior month and/or prior year.
Customized Reports
Based on what is important to you, we will create at least 2 custom reports that will provide additional details on your business’ performance in specific areas. Reports can include analysis of such areas as product profitability, food and/or labor costs, inventory, and cash flow.
Quarterly Business Reviews with CPA
We will meet to review the performance of your business, placing an emphasis on your prime costs. We will discuss what the numbers mean so you have a clear understanding of your business’ performance.
Controller
This solution provides full service accounting for your growing business. We handle the majority of your back office accounting procedures, which allows you to focus solely on operating your business. We provide weekly support to your business and can handle as much of the back office duties as you need…from bill payments, inventory tracking, house account billing, cash flow monitoring, payroll, and more.
In addition to the services included in the Business Manager solution, the Controller Solution includes monthly business reviews with a CPA and adds the following services:
Weekly Transaction Processing
All bank transactions are properly classified each week. Credit card settlements and bank deposits are reconciled to ensure all cash received is reflected. Vendor invoices and other expenses are classified and posted.
Weekly Flash Report
Weekly analysis of your prime costs (food, beverage, and labor) so you have a timely feedback about your operations, allowing you to make adjustments the following week vs waiting until the next month.
Weekly Sales Integration from your POS system
From your integrated POS system and merchant accounts, we will reconcile sales captured to the sales recorded in your accounting system to cash received to ensure you have an accurate picture of your revenue each week.
The Controller level can also be expanded to include vendor bill payments, tip reporting, sales tax, payroll, and inventory management.
Fractional CFO
Our Fractional CFO solution partners you with a seasoned CPA as we truly become a member of your leadership team and invested in your continued success. On an ongoing basis, we provide high level accounting support and assistance with complex financial transactions. For businesses with an accounting department, we can fill the role of CFO to oversee the day to day operations, allowing you, the business owner, to focus on running and growing your business.
Each package for our Fractional CFO solution is different as it is customized to the needs of your business. However, in addition to the services provided in the Controller solution, the CFO solution often includes (but is not limited to):
- Annual budget preparation and monthly monitoring
- Weekly cash flow management
- Weekly business reviews with management
- Product pricing
- Strategic business reviews, including forecasts, financials goals, and strategic planning
- Board/Advisory board representative,
- Benefits Management
- and more....