The restaurant owner looks at the sales and then at the bottom line, before closing the report.

Do you recognize yourself?

It may be an extremely complete report, however by only examining those two figures, it leaves the majority of its value to be debated.

Good restaurant bookkeeping shouldn’t make owners more dependent on an accountant. They should feel more confident of their financials. You don’t have to know each accounting rule, or have to spend hours completing invoices. You need to understand how profit has changed and what’s happened to food and labor costs and the questions that should be addressed in the coming week.

Bookkeeping Chef’s mission is to automate bookkeeping chores that don’t require the time of restaurant owners while also providing them with clearer financial data they can utilize.

Do Not Stop at the month-end Numbers. Begin with the Weekly Numbers

A monthly P&L is important, however restaurants don’t operate monthly. This week, the managers plan their schedules. Chef orders food today. Vendors change prices now.

Bookkeeping Chef’s weekly prime-cost reports are included with the monthly financial statements.

The prime cost comprises two major aspects that can be easily transferred in a food service establishment: cost of the goods sold, and labor. According to data offered by Bookkeeping chef, prime cost accounts for about 60% of the sales at restaurants.

Imagine that sales barely changed but the cost of production increased. This alone won’t be the solution. It provides the person with an opportunity to research.

Have the hourly wages increased? Did you have extra work? Did food costs change? Did vendor invoices seem uncharacteristically high? Did you notice any changes in your sales mix?

It is better to find out about the problem now instead of waiting until later.

Automate repetitive work

DIY bookkeeping doesn’t need to be a manual process of transferring POS amounts into spreadsheets after the service.

Automating the bookkeeping process in restaurants can help eliminate repetitive data movements. The service integrates systems such as POS Payroll, QuickBooks, vendor platforms and inventory management.

The purpose is not to automate to achieve its own ends.

The goal is to eliminate the need for manual data entry and ensure that financial records are up-to-date to allow owners to spend more time reviewing the data rather than assembling it.

That creates a different model of bookkeeping in restaurants: technology handles more of the mechanics, while the owner stays involved in the financial aspects.

You can ask better questions regarding P&L

Stop looking at your P&L as the accounting test.

Begin with sales. Begin with sales. Compare the results of food and beverages. Take into consideration the labor. Continue to reduce your operating costs.

Comparing periods.

If the sales rise but the profits aren’t, it is a difference between the two. Find out what happened within the organization when food costs grew. Check sales and staffing to determine if the labour percentage has changed. Investigate any numbers that seem unusual, instead of just thinking that the restaurant was not doing well during the week.

Bookkeeping Chef provides monthly P&Ls in five days. This allows owners to view recent performance without waiting for financial reports that usually arrive months after the end of an operational period.

For restaurant owners who require bookkeeping solutions, speed is a must but understanding is the more important aim.

DIY doesn’t have to mean Making Everything You Need

You can find a happy middle between having someone manage all of your financial tasks as well as being your own personal accountant.

You are able to be an owner of a business without having to perform every accounting task manually.

This may mean using automated systems to maintain information flow, reviewing a monthly P&L and weekly reports on primary expenses, or asking questions if there is an unplanned event.

Specialized bookkeeping services for restaurants can aid in this process by keeping the books in order while helping the owner know what the reports mean.

It’s not an owner who is able to accomplish every bookkeeping job.

An owner is able to have a discussion with the P&L regarding the company.

The aim is financial independence Not More Reports

Restaurants already generate massive quantities of data. Another dashboard isn’t automatically useful.

The true value is when an operator can look at the weekly report of prime cost and realize that something has occurred, then open the P&L and understand where to investigate further.

Bookkeeping Chef s approach incorporates restaurant accounting automation, daily reports, monthly P&Ls and special financial assistance for restaurants, making this feasible.

Automate repetitive tasks. Check your top costs each week. Learn to understand the same language as your P&L.

You don’t have to be a professional accountant.

It is best to become an owner who understands the financial story of your restaurant.