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1. TIPS FREELANCE BOOKKEEPING FOR RESTAURANTS UPGRADE
2. TIPS FREELANCE BOOKKEEPING FOR RESTAURANTS SOFTWARE
3. TIPS FREELANCE BOOKKEEPING FOR RESTAURANTS PROFESSIONAL

While you should be able to handle many of the day-to-day accounting activities of your restaurant yourself, you may also want to consider hiring a professional accountant to help with some of the big-picture accounting tasks. This allows you to be efficient with your mental energy, and you can come back to your restaurant bookkeeping with a clear head. Getting your other work tasks done in between will bring variety to your schedule. Instead, try grouping bookkeeping tasks together and schedule each group for a different day. Besides your productivity slowing down if you start to become mentally exhausted, you could also start making mistakes. While this might sound like a good way to get all the bookkeeping done quickly, this can actually be less efficient.Ĭrunching numbers, evaluating spreadsheets, and comparing order forms can become draining if you’re spending several hours on it at a time. Many business owners make the mistake of scheduling time for all their restaurant bookkeeping responsibilities on the same work day. However, if you make it a point to regularly evaluate your inventory costs, you can more confidently decide if you need to make changes to your inventory ordering, your menu prices, or your overall menu. It could also just come down to the fact that you’re ordering asparagus when it’s out of season. Or maybe disease has affected how much cod your fish supplier has in stock. Maybe a drought has affected broccoli farmers. Unlike many retail industries, inventory costs for restaurants can fluctuate wildly, even from week to week. Just like your cleaning process and ongoing training programs, it’s all about repetition and making recording the financials a part of your regular routine as a business owner. Getting into the habit of these best practices is often the hardest part. Reporting on labor and food costs should be done once a week.Counting inventory should be done at least monthly, but weekly is even better.A profit and loss statement should be done once a month.Not only will it give you a clearer picture of where your business is heading, but it may be able to help you identify some potential red flags, such as employee theft or major food waste. Updating and reconciling your financial records is a huge part of the restaurant bookkeeping process.

TIPS FREELANCE BOOKKEEPING FOR RESTAURANTS UPGRADE

In fact, depending on how old your current system is, this might be a good time to upgrade your POS system too.

TIPS FREELANCE BOOKKEEPING FOR RESTAURANTS SOFTWARE

Some bookkeeping software brands that specifically cater to restaurants can connect directly to your POS system. And if you don’t come from a number crunching background, don’t worry - this type of software tends to be very intuitively designed so even someone new to the world of accounting can grasp the basics quickly. Utilizing one of the many restaurant accounting software options available will allow your business to better streamline its finances. Here are some helpful tips to keep in mind when setting up your restaurant’s bookkeeping process. But as a restaurant owner, it’s imperative that you stay on top of your finances to make sure you understand exactly what’s happening at your business. If you come from a predominantly culinary background, the thought of balancing your restaurant’s finances might seem overwhelming.