The restaurant’s owner examines the sales before focusing on the bottom line before closing the report.

Are you familiar with the situation?

It could be an amazingly precise report, but in focusing on just two numbers, it leaves most of its value in the dust.

Bookkeeping for restaurants that is efficient shouldn’t leave proprietors more dependent on an accountant. It should make them more comfortable with their own numbers. It doesn’t require an accountant or stay up all at night filling out invoices. It is important to know the way profit has fluctuated in relation to food and labor costs and what questions should be addressed next week.

That’s the philosophy Bookkeeping Chef’s mission: to Automate the bookkeeping task which doesn’t require the owner’s time, while providing restaurant owners with more precise financial data they can utilize.

Start With the Weekly Numbers Don’t Just Focus on Month-End

Restaurants don’t run on per month. Managers plan their labor for this week. Chef orders food today. Vendors change prices now.

That’s why Bookkeeping Chef provides weekly prime-cost flash reports along with monthly financial statements.

The prime cost comprises two crucial areas that are easily transferred in a food service establishment: the cost of goods sold, and labor. The Bookkeeping Chef’s information notes that prime costs usually comprise approximately 60% of sales in restaurants.

Imagine that sales barely grew, yet the prime cost rose. This alone won’t be the answer. It provides the person with a reason to investigate.

Did the hourly wage increase? Did there occur overtime? Was the cost of food fluctuating? The invoice of a vendor was unusually high. Did sales mix changes?

It is much better to know about the problem now instead of waiting until later.

Automate repetitive work

DIY bookkeeping isn’t limited to manually transposing POS numbers into spreadsheets.

Automating restaurant bookkeeping can help in the repetitive movement of financial data. The service is able to connect systems like POS Payroll, QuickBooks, POS vendor platforms, inventory and recipe management as well payment and AP tools.

Automation is not the goal.

The aim is to reduce the need for manual data entry and to ensure that financial records are kept up-to date so that owners are able to spend more time looking over the data instead of trying to assemble it.

It’s a totally new accounting model for restaurant establishments. Technology takes care of the mechanical aspects and the proprietor remains involved with the financial aspects.

If you have more questions, you can ask them about P&L

If you stop thinking of the P&L as a type of test, it will become less daunting.

Begin by looking at sales. Begin with sales. Compare the effectiveness of beverages and food. Look at labor. Look at labor.

Comparing the time spans is crucial.

Somewhere between these two lines has changed if sales have been increasing, but profits have not. If food cost was up, you should ask about the changes operationally. If the labor percentage changed, compare staffing and sales activity. If a figure appears to be odd look into it rather than thinking the restaurant simply had poor month.

Bookkeeping Chef sends monthly P&Ls in five working days. This allows owners to review recent results without having to wait for financial statements, which usually arrive months after the conclusion of an operating period.

Speed is important, however the goal is to understand.

It’s not necessary to do everything.

There’s a compromise between delegating all financial responsibility to another and having your own bookkeeper full-time.

An owner can stay in the loop without manually completing each accounting job.

This could mean connecting to automated systems to maintain information flow by reviewing a weekly prime-cost report, analyzing the monthly P&L and asking questions when something moves unexpectedly.

Specialized restaurant bookkeeping services can support that approach by keeping the underlying books organized while helping the owner understand what the reports mean.

The result is not a bookkeeping owner who is skilled enough to accomplish every bookkeeping job.

A business owner can talk to the P&L regarding the company.

The goal is Financial Independence and not More Reports

Restaurants already produce huge quantities of data. A dashboard doesn’t always make sense.

The real value comes when an employee can open a P&L report, and see that there has been a change, and then go through the reports on the cost of prime.

Bookkeeping Chef’s plan includes financial support for restaurants, regular reporting and automated restaurant bookkeeping to achieve this.

Automate repetitive tasks. Review the prime cost each week. Learn the language used in your P&L.

You don’t have to be an accountant to be an.

It is crucial to comprehend the financials of your restaurant before you become an owner.