Bookkeeping assistance for the busy restaurant owner
We set up customized accounting/bookkeeping systems on Quickbooks software for restaurants and food businesses. We provide training to the business owner or a designated employee on how to input daily sales, deposits and vendor bills, cut checks and view accounts payable and cash balances. We then follow-up regularly to reconcile bank accounts, maintain the system, answer questions, make corrections and produce Profit & Loss Statements and other reports. Of course, we can input all information and provide complete bookkeeping services so the owner can have more time for essential operational responsibilities and problem solving and maybe even have some personal time. You decide just how much work to delegate to us – This is our CBA (Cooperative Bookkeeping Arrangement).
With prior restaurant and retail food ownership experience, we understand the sensibilities and needs of an overworked restaurant owner and can provide valuable information and insight to help improve profitability.
"Restaurant Business Assistance has been my back office partner for 5 years. I had no idea what my true costs were until they set up and completely monitored my accounting system. Bottom line, I now control my numbers. I know my bank balance every day! Trust, training, knowledge and financial infrastructure is their STRENGTH!!!!"
- Tony Altomare - Tony Roni's Pizza, 7 locations in the Philadelphia Region
Why is bookkeeping so important?
The way your bookkeeping system is set up will determine:
1) How easy it is to enter the information and how long it will take – Information in.
2) How organized and meaningful your financial reports will be – Information out.
Your restaurant is a business into which you have invested an immense amount of money and personal effort. Your organized, detailed and timely financial reports can be used to identify problem areas and serve as a basis to improve profit and manage cash flow – to protect your valuable investment.
Bottom line – A successful restaurant owner understands and pays close attention to the financial side of his business.
Are we unaffordable overhead?
1) You are an expert on restaurant operations. You spent many years in the business learning your trade – we’ve spent many years learning our trade. We can provide a working expertise that will result in a way more efficient, organized and easy to use system than if attempted by “reading the manual” and a do-it-yourself mentality.
2) You are probably so busy and stressed that you may never get to setting up your bookkeeping system and keying the information. But you must have accurate, timely and organized financial information in order to create or improve profit. Doing nothing is not an option! Living with a bad system because it may be too much trouble to improve it is not good business. The process is easy for you if we do it.
3) After evaluating your operations through your Profit & Loss statement, if you achieve just a 1% improvement in food or labor costs, you will more than pay for our valuable assistance. You can’t afford not to use our services!
Why are we different?
1) We have restaurant and retail food operating experience which gives us a unique understanding of your business, your needs, your daily struggles and your time constraints.
2) We work with you or your trusted employee on an ongoing, consistent and detailed manner – not just quarterly or whenever we have time. Working hand-in-hand with you is not an additional service we offer – it’s our business. Of course, if you choose, we will do all of your bookkeeping work.
3) We have CPA experience and specialize in restaurants. We bring more than just general bookkeeping knowledge to the table.
4) We work with your CPA, not in place of him. We will present your CPA with organized and detailed Profit & Loss Statements to facilitate your tax return. This will save you many dollars in hourly accounting fees.
We are amazed at how many restaurants are dissatisfied with their bookkeeping systems or barely have one – at how many restaurants that cannot access timely, accurate and organized financial information and cash balances to help steer their business.
If you are opening a new restaurant and need to create a bookkeeping/accounting system………If you are not satisfied with your financial and cash information system or do not have detailed, accurate, timely and organized information………If you do not know your cash balance every day……..You must take firm steps to improve this back-office nightmare. Restaurant Business Assistance will set-up, train, follow-up, maintain, correct and perfect your bookkeeping/accounting system.