Bookkeeping, while not as mouthwatering as a steak or crisp fries is crucial to a restaurant’s success. Stay with me, it’s not as exciting as eating a steak or fries, but is just as important to the restaurant accounting newport.
A restaurant is like juggling flame-throwing knives while on a bicycle. Flambe left, bookkeeping right. You begin by making dough. Not the type that you use to make the perfect crust for a pizza, but the money kind. It is the foundation of your business. Start tracking your income and costs from day one. No one wants a year from now to find that their money has been dripping out like a broken coffee machine spilling all over the countertop.
Remember the sleepless nights wondering whether you spent too much or not enough money on local kale, or on sauces? Tracking your cash flow daily is helpful. This is like peering under the bonnet of a Ferrari. It’s a great way to find out how the company is doing. Truth be told, this is much more exciting than watching paint dried.
Now let’s talk about your receipts. Have you ever wondered what all the crumpled up paper is doing in your pockets? They’re like the latest Pokeman collection. These bread crumbs are not just litter. They’re your economic trail. Keep a stash of old recipes in a recipe box similar to grandma’s. Better yet, go digital. Apps on your phone will make it a wiz at transferring files to the cloud. They can save you time and keep chaos at a distance.
Do not let the financial situation of your business fall behind. Timing is everything in a business. Weekly or even monthly reports will help you stay on top of your finances. These reports can show your best-sellers and the ones that could use a little more marinating. It may seem like you’re tackling a Sudoku at first. But as soon as you start looking at the numbers, a pattern emerges, similar to the fog lifting off a morning cup.
Payrolling is a completely different matter. You need to be laser focused, regardless of whether you pay your crew in cash or with checks. Have you forgotten someone’s pay? It’s a fact that chefs come equipped with knives. Enough. Let’s not forget about taxes. If you don’t pay fines, the process is similar to having your teeth removed. Keep it filed properly. Perhaps hire someone that doesn’t get cold at the mere thought of tax time.
When it comes to hiring help, do you want an accountant or can you do the work yourself? It’s a question that dates back to France’s early restaurants. Perhaps you could benefit from some professional advice if your knowledge of finance is as firm and solid as a souffle. Accountants do not add flavor to a meal but they will prevent financial heartburn.
Don’t ignore the inventory. Inventory is like counting grains. But it’s gold. It will tell you what sells well and what simply gathers dust. The escargots might not be as popular as you thought (surprise!) Inventory allows you to keep tabs on your waste and helps plan. It also ensures that money is not wasted.
Finally, do not just throw away your reports as if they were dusty old tomes. Use them as guides. Use them as a guide.
Bookkeeping, while not the focus of attention on stage, is the unsung star behind the scenes. It ensures that everything runs smoothly to let the culinary masterpieces shine. Take the time to embrace your ledger, and transform those numbers into something beautiful that even a cook can appreciate.