September 12, 2020

Restaurant Accounting Case Study – Why we should enter DSR(Daily Sales Report) in a 2-part journal format?

Background – Our client is a franchise of Papa John’s Restaurant in USA and operates nearly 40 stores throughout the entire country. Before they started working […]
September 12, 2020

Restaurant Accounting Case study – Gift Card Sales and Redemption

Once upon a time, giving gift cards wasn’t as respectable as buying an actual tangible gift, but today, they’re more popular than ever. They’re an easy […]
September 12, 2020

Restaurant Accounting – Payroll Journal

A payroll journal entry is a method of recording expenses in the books of accounts of your restaurant pertaining to employee compensation. A payroll journal entry […]
September 12, 2020

Restaurant Accounting – Caution! Don’t let Voids and Over-Rings Go Unaccounted!

Depending on your POS system Void may be called; Cancel, Over-ring, Delete, Clear, etc. For example, an employee takes an order and the customer changes their […]
September 12, 2020

Restaurant Operations – Cost Control Tips

A restaurant is not a thing. It is not a structure. It is not a group of people. It is not a recipe, concept, or a […]
September 12, 2020

Restaurant accounting for QSR and Fast Casual Multi-Unit Franchisees – Time is Money

How quickly a restaurant’s financial statements are prepared after the end of the reporting period matters a lot. The faster the financial statements get in the […]
September 12, 2020

QSR Accounting – Why is Accrual Method of accounting better?

Accrual basis accounting means that revenue is “recorded” or “recognized” when it is earned and expenses are “recorded” or “recognized” when they are incurred, regardless of […]
September 12, 2020

Restaurant Accounting – How to significantly reduce Bookkeeping Costs

According to the Uniform System of accounts for restaurants issued by the National Restaurant Association, the budget for ongoing bookkeeping and accounting is about 1 percent […]
September 11, 2020

Restaurant Accounting – 4 Week Reporting Cycle

The challenge: The problem is that there are different numbers of days in every month. Some months have 30 days, some have 31 days, and February […]
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