Bookkeeping for Restaurants
Certified Local Bookkeepers
Many companies will come to us at Furever Bookkeeping when they’re way behind on their books, wondering where they went wrong and what they can do to fix it. The truth is, they never took the time or care to outsource their bookkeeping to a certified professional who they know they could trust. Instead, these business owners attempt to either handle their company’s bookkeeping, or hire an inexperienced person to manage their company’s finances. Although this may result in short-term success, as a company grows, it becomes increasingly more difficult for a company to function without a professional bookkeeper. If that time comes, calling us is your only option to repair your books. Furever Bookkeeping is your Top Rated Local® Bookkeeper in Northern Virginia, Maryland, and Washington D.C., so give us a call.
Watch the video below to see how Bobby was able to take control and manage his many restaurants by trusting in Furever Bookkeeping for his book reconciliation and set him on a path to success:
Bookkeeping Service For Restaurants
It’s no surprise that it’s difficult to run a restaurant; you have to have a knack for leadership, customer service, and you need to be good at managing a lot of things at one time. The problem with this is that many restaurant owners are so caught up in the day-to-day operations of their company that they forget one crucial aspect: bookkeeping. Accurate bookkeeping is essential for running a restaurant, especially if you’re like Bobby who runs multiple restaurants with hundreds of employees in total. And if you find yourself behind on payroll, invoicing, or taxes, you’ll have a difficult time catching up.
Having up-to-date records of your sales is important for being able to keep track of inventory efficiently. You’ll need to have a daily sales journal that will keep track of both cash and credit card transactions. Many restaurant POS systems will have some basic accounting features built into them in order to help a bookkeeper better manage their sales. Once the bookkeeper has a sales summary, they will create a memorized transaction in QuickBooks and provide you with weekly, monthly, and yearly reports.
Outsourcing your payroll to a professional bookkeeper should be your first step as a restaurant owner. If your payroll taxes are filed incorrectly or late, the penalties can be great. It’s also very affordable due to the fact that your bookkeeper will take care of the rest of your company’s finances at the same time. You’ll never have to hire an in-house bookkeeper, train an employee to deal with your bookkeeping, or attempt to handle it yourself, either by hand or in an accounting program that you have no experience with.
Account reconciliation is the process of ensuring that figures are accurate by having two sets of records. It’s important for knowing whether the money you have spent is equal to the money that has left the account. This process will ensure the accuracy of your financial reports and allow you to make educated decisions about your company’s financials.
Contact Us Today
The control of cash flow is an essential part of running a business, and when you’re running multiple restaurants, figuring out an effective way to manage all of this may seem impossible. However, when you contact a certified bookkeeper at Furever Bookkeeping, you won’t have to worry about any of it and instead focus on growing your business. Contact us today get a free in-house analysis of your books!