Restaurant bookkeeping is not easy, especially for individuals that aren’t trained. To begin, there are a few key tasks that must be done to ensure total accuracy.
The key tasks are for instance:
Matching sales to the Point of Sale system (Revel, Square, Toast, etc.)
Tying out cost of goods sold.
Reconciling all accounts.
Matching payroll to the payroll companies records.
Recording tips accurately and accounting for them on the balance sheet.
Accounting for loans and credit cards the right way.
Understanding how restaurant and hospitality bookkeeping is done and maintaining the books.
How Park East Bookkeeping can Help:
Coaching your internal bookkeeper on best practices.
Providing a resource for your internal accounting team.
Assisting with complicated tasks such as payroll entry, sales entries, inventory adjustments, etc.
Teaching your internal bookkeeping team on how to get the most out of QuickBooks.
Working with your CPA to add year end adjustments.
Assisting with complicated problems such as cash transactions, asset purchases, etc.
Working hands on to prepare key financials for management.
Helping with loan applications and PPP forgiveness.
In Conclusion:
Sometimes your in-house bookkeeping team needs a little help. That’s what we’re here for.
There are no contracts, no obligations and no hassles.
Your bookkeeper training can be done virtually, such as over Zoom or teleconference software.