Is your restaurant bookkeeping dialed-in?
Restaurants have tight profit margins, making accurate bookkeeping extremely critical to success. If the books are not up-to-date, then a restaurant owner may not have time to react when problems occur. Once the bookkeeping falls behind, it can be extremely difficult to catch up.
Sherman Oaks Accounting & Bookkeeping powered by One Source Services has seen firsthand how poor bookkeeping can negatively impact a restaurant’s bottom line. For these restaurateurs, outsourcing bookkeeping to a professional can save their business.
A professional bookkeeper will record and organize important financial transactions, capturing daily sales for instance.
It’s critical that a restaurant records sales every day and that cash and credit card sales are reconciled against bank account deposits to ensure that payments are made correctly. Our restaurant-experienced bookkeepers have many solutions for doing this.
Plus, using an outsourced bookkeeper greatly reduces fraud risk, improve inventory management, and maintain better cash handling accountability.
The experienced, professional bookkeepers at Sherman Oaks Accounting & Bookkeeping powered by One Source Services will precisely post transactions and record money in and out for more accurate financial statements.
For a restaurant, a good bookkeeper can make a big difference to vendor relations, as well. Managing a properly implemented Accounts Payable system will see that vendors are paid on time and ensure that vendors continue doing business with a restaurant. One would be hard-pressed to find a restaurant owner who will argue against the importance of a well-established, smooth-running supply chain.
For restaurants, a good bookkeeper can make all the difference between success and failure.
As a restaurant owner, what is your biggest bookkeeping challenge? Accounts receivable? Accounts payable? Recording daily sales? Reconciling accounts? Having accurate financial reports to analyze the health of your restaurant? Most likely, you did not go into the restaurant business because you enjoy tasks like these.
Luckily, Sherman Oaks Accounting & Bookkeeping powered by One Source Services has many excellent bookkeepers available to do the jobs for you and do them well.
Anyone who has made the leap to an outsourced bookkeeper will tell you that it’s well worth the money. You wouldn’t hire a plumber to cook food for your diners, so then why does it make sense that a restaurateur would do their own books without a background in accounting?
Leave the details to a designated Sherman Oaks Accounting & Bookkeeping powered by One Source Services bookkeeper who specializes in restaurants, and focus your energy and time doing what you know and love. Isn’t that why you went into business in the first place?