RESTAURANT ACCOUNTING & BOOKKEEPING
FOR YOUR RESTAURANT, FRANCHISE, COFFEE SHOP OR BAKERY
Improve your bottom line by having an accounting system set up according to your specific industry challenges!
Why is it important and what can we do for you?
Running a restaurant takes much more than having great food and a passion for hospitality. Three major cost factors are the cost of food, beverages and salaries. All are variable expenses, which means if not monitored very closely, they can increase easily by 15-30% without an owner even noticing. That is 15-30% off your bottom line, which means if this happens, it is most likely the restaurant will not be profitable.
Another common problem is cash flow, especially when those big ticket items are due, such as rent and salaries. Having a good accounting system in place, planning ahead and cutting out expenses where possible will make the cash flow management easier. A savvy accountant can help you set up a budget and cut back on expenses.
Successful restaurant owners have systems in place and never lose a sight of overall restaurant performance. Join the club!
In order to run a successful restaurant business, some of the common accounting practices include:
Daily recording of sales, purchases & expenses
Weekly F&B cost reporting
Weekly food cost reporting
Keeping optimal inventory counts to avoid losses
Timely and accurate reports
Reviewing profit and loss statements at least monthly
"As we at Restaurant Secrets Inc. are operating out of Dubai, we have an 11 hour time difference between ourselves and Edina, already had concerns of timely feedback and constant communication.
The way that Edina puts in extra effort with Skype sessions, training sessions and constant email communication, it almost feels as if she is not that far at all.
Edina constantly provides good, quality, and timely service and she is always willing to assist, no matter what the hour. The knowledge & dedication that Edina has and the way that she carries over this knowledge enabled us as Restaurant Secrets Inc. to understand our finances and manage it effectively.
Edina is indeed someone that we can always count on and we can gladly recommend her to any SME anywhere in the world."
— Ralph, Senior Associate & Partner
Restaurant Secrets, Inc
By choosing BBR for your accounting needs, you will have more time to focus on growing your business. All of your accounting is located in the cloud for access from any computer at any time. Savings on payroll, training and other overhead costs are about 40% by choosing us versus hiring an in-house accountant. You will have improved cash flow which gives you greater control of your business by using financial data more efficiently which allows better business decision making. There are no added costs for hiring an employee -- no vacation, benefits or space requirements! We offer many other services to suit your needs. For example, as your business grows, and you have more complex issues to take, our controller services come in handy. It covers a deeper level of financial analysis and reporting so that you may make better strategic business decisions.