Have you ever looked at your profit and loss statement and wondered what goes into the line items? Have you ever asked yourself what expense goes into that line item and decided not to call your accountant because you're fearful of getting charged more? Is your profit and loss statement something you use to pay your taxes instead of as a critical tool for measuring your restaurant success? Let’s look at how restaurant accounting chart of accounts can change how you look at your profit...

As a restaurant owner, are you afraid of your numbers? Do you look at your profit and loss statement only to see if you made or lost money the past month? Do you struggle actually knowing what goes into each line item? Well, you're in the right place because I'm about to talk to you about three important restaurant financial reports independent owners often misunderstand. Click below to watch the tip or keep scrolling to read more.

Maybe you think you're not naturally a numbers person....

Restaurant accounting requires a special touch and there is no one I recommend more to independent restaurant owners than Anne Gannon, CPA.

In this latest episode of The Restaurant Prosperity Formula podcast, Anne and I talk about many important topics, including:

• Why it’s probably worth keeping your restaurant’s doors open right now, even if you’re losing money
• What financial numbers to know and pay attention to for restaurants
• Cash flow budgets and their benefits
• Why you...

Learning to run our restaurant during a pandemic has been one of the greatest challenges of our lives. The restaurant industry was flourishing and then came March 2020, when, BOOM, we had to close our doors and literally learn to pivot our businesses so we could still have cash flow, even in a pandemic. Watch the video below or keep scrolling to read about your cash flow and how to make a plan for it.

Restaurants are cash flow businesses because cash pays the bills, not profits. Most...

Let's be honest. You didn't get into the restaurant business so you could run payroll. But payroll is an unavoidable part of doing business. And if you don't do it right and don't pay attention, you could held liable.

Watch this video, or continue reading below, for three things you must know when it comes to restaurant payroll.

About Managing Restaurant Payroll
Normally I like to talk about making money, but in this case I want to talk about payroll. I want to help you stay out of hot...

As a small business, your restaurant is fueling our economy. It also means, as a small business, you have to know about tax planning. No one really likes to talk about it, but tax planning is important for restaurants. Watch the video below, or keep reading, for more information about tax planning. 

About Tax Planning for Restaurants

The last thing you want as a small business owner is getting to the end of the year and getting hit with a huge tax bill. If you don't know your...