How to Make Restaurant Accounting Easier
Restaurant accounting… do I really need to say more? It's a challenge. No matter if you're doing it yourself, or you're farming it out, most of the numbers and reports you have are worthless when it comes to running your business. Don't get me wrong. You’re getting your taxes paid, but I want more for you. You deserve more. Stay with me and I’ll cover how to make restaurant accounting easier.
How can you make restaurant accounting easier? Well, I've got some resources for you.
One, start with the right chart of accounts. That's the line by line by line to make your profit and loss statement mean something to you. To learn about it, make sure you watch my video on chart of accounts.
Two, learn the jargon restaurant accountants use so you understand and aren’t embarrassed to ask questions. Those are your numbers, and you can use those numbers to make change in your business. To learn these key terms, be sure to watch my YouTube video with the top 10 restaurant accounting terms you need to know.
Three, understand the difference between a general ledger, a balance sheet and a profit loss statement, and what each one of them do. I know you're going to find this crazy but be sure to watch my YouTube video about how to understand restaurant accounting without being an accountant.
Four, be sure to hire an accountant who truly understands restaurants and the restaurant industry. They're not all created equal.
Currently, I shortcut this for my members, and I send them to and recommend The Largo Group and its principal Anne Gannon.
Follow these tips and make your restaurant accounting easier.
Be sure to visit my YouTube channel for more helpful restaurant management video tips.