CloudCPA’s Post

When it comes to handling tips and gratuities in restaurant accounting, it's important to keep things organized for tax purposes. Restaurants often use a tip reporting system to track and fairly distribute tips among employees. #restauranttips #restaurantfinance #restaurantaccountant #pardocpa

Share your tips and tricks for saving money on taxes as a restaurant owner.💡 What strategies have worked best for you? Let's help each other thrive in the competitive restaurant industry! #restaurantowners #restaurantbookkeeping #restaurantindustry #bookkeepinghelp #accountingforrestaurants

Share your restaurant recommendations in the comment section 🤗 #RealEstateAccounting #RealEstateFinance #TaxServices #FinancialAdvisory #AccountingForRealEstate #PropertyInvestment #TaxAdvisory #RealEstateCPA #FinancialPlanning #RealEstateTax #TaxStrategy #RealEstateInvesting #AccountingServices #CommercialRealEstate #taxplanning #RealEstateDevelopment #PropertyTax #RealEstateAdvisors

Share your restaurant recommendations in the comment section 🤗 #RealEstateAccounting #RealEstateFinance #TaxServices #FinancialAdvisory #AccountingForRealEstate #PropertyInvestment #TaxAdvisory #RealEstateCPA #FinancialPlanning #RealEstateTax #TaxStrategy #RealEstateInvesting #AccountingServices #CommercialRealEstate #taxplanning #RealEstateDevelopment #PropertyTax #RealEstateAdvisors

Controlling restaurant costs is one of the biggest challenges for restaurateurs. Not only do you have to manage many costs—but you have to do it while dealing with inevitable price increases. Whether it’s food cost increases due to inflation or a labor cost rise due to rising minimum wage, cost increases, like taxes, are guaranteed in the restaurant industry. Whether you want to learn how to calculate & understand your prime costs or get an idea of what it takes to open a restaurant, check out our ultimate guide: https://lnkd.in/d5gCRiq

Customers don’t realize how much goes into running a top-notch restaurant. Things like carpet cleaning, paint, and repairs—all paid for by the business—are essential to creating a great experience. Yet sometimes, it all gets reduced to a complaint about the price of yeast rolls. 🥐 There’s a lot that goes into making a restaurant exceptional, from unseen operational costs to ensuring every guest has a memorable experience. These hidden investments often reflect in menu prices, but they’re vital for keeping standards high. Listen to more of Brian Stubbs of Genuine Article Bookkeeping's insights here:https://lnkd.in/g8p8bvPr

In the dynamic world of gastronomy, where every detail counts from the perfect seasoning to the ambiance, there's another ingredient that's crucial for success – expert accounting. Why is specialized accounting pivotal for restaurants? 1. Cash Flow Management: Understand the ebb and flow of your cash to keep your restaurant thriving, even in the off-season. 2. Cost Control: Identify exactly where every penny is going. From food costs to overhead, knowing your numbers helps you trim the fat and boost profitability. 3. Compliance & Regulations: Stay up-to-date and compliant with industry regulations, avoiding costly penalties and ensuring smooth operations. 4. Profitability Analysis: Unlock the potential of your menu items and services to see what's really cooking up profits. The last few years I've been doing a lot of Restaurant Accounting. I'm blown away by the quality of my clients and their passion for business. #RestaurantManagement #AccountingServices #FinancialSuccess #HospitalityIndustry

What are the Fundamental Accounting Services Needed for a Restaurant? The five fundamental accounting services needed for a restaurant are: - COA (Chart of Accounts) - COGS (Cost of Goods Sold) - Occupancy, restaurant labor, and operating expense tracking - Prime cost - Cost-to-sales ratio Continue Reading - https://lnkd.in/ecFVTQMa #restaurantaccounting #restaurantfinance #restaurantowners #restaurantmanagement

It's not too late to register for tomorrow's webinar: Sage Intacct Quarterly Release for Restaurant Groups Join Tablespoon's Brian Puckett as he walks through Sage Intacct’s the latest quarterly release for restaurant groups. Save your seat: https://hubs.li/Q02wCmyl0 On the webinar, you will learn about: ✔️Significant enhancements and updates for restaurant groups. ✔️New functionality and why it is important. ✔️Product spotlight from Velixo. #restaurant #restauranttech #restaurantindustry #restaurantfinance #finance #accounting #cfos #controllers #accountingsoftware #restaurants Sage Intacct, Inc.

The piece of special information that we should really talk about is: Restaurants are struggling. Menu engineering is important, but literally thousands and thousands, probably hundreds of thousands of restaurants don't do any menu engineering. They don't have a strategy for it. They don't change their menu on a regular basis. They don't know what the profitability of each item is or how to categorize those items. And so, unless there is a tool that is going to make menu engineering easy, many restaurant owners won’t do it. Menu engineering is one of those things that’s important but not urgent. As a restaurant owner, you’re busy putting out out numerous fires, dealing with an angry customer, dealing with the fact that you got shorted by your supplier, dealing with the broken stove or the unpaid taxes. These are all urgent things. And your attention is being pulled towards those things all the time. So much so that you don’t have the capacity to review and update your menu. This can be a huge mistake, because it can literally be one of the things that makes or breaks your restaurant. #menuengineering #restaurantindustry #recipecostcalculator