For any Restaurant, up-to-date Books of Accounts play a vital role and the owner can have “peace of mind” if the Accounting aspect of the business is handled by an experienced accountant who possesses the right understanding of the restaurant business. Additionally, timely and accurate financial reports are the crux for a successful business to take timely and strategic decisions beforehand. Be it a start-up restaurant, or a flourishing international chain, all restaurants need efficient Accounting & reporting for the management of funds to turn a viable profit.
Managing employees, vendors, and customers, and trying to smooth out everyday glitches, leaves you with very little time to dedicate to accounting every week. And as a restaurant owner, you don’t want to be bogged down by accounting when you are trying to make your dreams and passions a reality.
You can count on Virtual Bookkeeping Team to swoop in and save the day. We offer specialized restaurant accounting that will not only keep your books in order but also help give you financial strategies so that you can maximize profits without compromising on quality. Our team here at Virtual Bookkeeping Team is specially trained and has tons of experience with accounting for restaurants. We are experts at efficiently reporting the key performance indicators for restaurants with precision and accuracy.
With the Virtual Bookkeeping Team Restaurant Accounting Team you can be sure to expect:
- Daily Sales Reporting & Accounts Receivables Management
- Cash & Credit card deposits reconciliation
- Accounts Payable Management
- Credit card charges and reconciliation
- Bank & Credit Card Reconciliation
- Royalty reconciliation
- Gift Card balance reconciliation
- Inventory balance reconciliation
- Inter companies/stores reconciliation
- Month-end and Year-end adjustments of entries like, Depreciation, Accruals, Prepayments, Deferred Revenue etc.
- Sales tax working and e-filing
- General Ledger review
- Monthly, Quarterly and Year-end closing reports
- Consolidation of financials
- COGS and Payroll expense analysis
- Category wise Revenue,
- COGS and Gross profitability analysis
- Key Performance Reporting with analysis
- Fixed Assets Management
- Cash Flow Management
- Accounting books set-up
You can also look forward to financial planning and timely investment strategies from us that will help reduce your tax burden while at the same time allowing you to make sound investments.
We use top quality, easy to understand accounting software like, QuickBooks, Xero, Intacct, etc. that is adaptable to a range of formats and can be standardised for restaurant chains for easier accounting, reporting & analysis.
All our clients can be assured that the quality of our accounting and interactions is nothing short of professional. We maintain 100% clarity and accounting transparency with our clients. You will have access to all your accounts and accounting reports 24 hours a day, 7 days a week so you can pull them up and review them whenever you need to.