Restaurant & Hospitality Accounting System and Process
With the great advances in technology, accounting no longer needs to be a multiple professional service. In the past it was necessary to hire bookkeepers, payroll services and accountants for many of the internal accounting functions. However, with today's technology this is no longer necessary which greatly reduces internal accounting costs.
We meet your needs
Determining a process that works best for you and your operation(s) is key.
Some Restaurateurs have no internal office help at all so it falls one them to do it all such as entering the invoices, cutting the checks, mailing everything out, entering everything into the books as well as the day to day tasks.
For others, the general manager (G.M.) will oversee the day-to-day operations such as receiving liquor and food deliveries & approving the invoices on the spot. They in turn are the ones who enter the invoices into the system, cut the checks and mail out payments as well as complying with their everyday functions of keeping the Restaurant running smoothly.
Other clients choose to have an "administrative assistant" -- not a bookkeeper or accountant -- to enter the invoices and perform daily sales information tracking in order to keep costs down while utilizing this individual for a variety of tasks, like printing menus, filing, etc..
However our model is different. We would like to offer you our C.F.O in a box service which is an interactive secure web accounting service especially designed to simplify your life and your business while maintaining a high level of internal controls.
We have a variety of plans to choose from and are able to assist you in the customize of the plan that would fit your needs. One plan example is shown below.
Basic Restaurant & Hospitality Accounting System & Process with Web Accounting Access:
- Monthly financial statements
- Monthly bank reconciliations
- Monthly sales tax returns
- Annual breakeven analysis
- Year-End accounting and corporate tax returns including:
- Federal Corporation, S-Corporation or Partnership Income Tax Return dependent upon your business
- State Business Corporation, S-Corporation or Partnership Income Tax Return
- City Income Tax Return
- Fixed asset records & detailed depreciation schedules
- General ledgers & journal
- Ongoing tax planning advice
- Business planning
- Forecasting and budgets
Web Accounting or Client Access points are standard with every package. The software resides on a secure Citrix server accessed via our website through your own secure client access point. This is most beneficial for our restaurant clients who want to be able to access their books regardless of where they or their managers are. In additional to receiving timely weekly flash reports from us, web accounting also allows for complete or partial outsourcing of various accounting functions, such as bill paying or bookkeeping services. There are several options that we can offer to assist with your needs while fitting into our business motto of effective and efficient accounting services available to you with a click of the mouse. Whether it be Accounts payable, Accounts Receivable, General Ledger Reporting, Payroll Process we can handle all of your needs and interests.
There is no need to spend thousands of dollars on complicated accounting systems and additional cost for a bookkeeper, an accountant and a payroll specialist to run or maintain. Furthermore, these systems require someone to set them up and to design the financial statements, which is another cost involved. Keep it simple and get timely and meaningful reports at the click of a mouse with our Secure Client Access points specifically designed and customized for your business needs.