Our restaurant went from just scraping by to reaching new heights, and we credit our recent success to our ability to reshape the way we keep track of our expenses. Having a good sense of bookkeeping and accounting is necessary if a business is going to survive in today’s dog-eat-dog economy. This is especially true in the restaurant business, and we picked one of the wealthier neighborhoods to run a restaurant.
There were some rocky roads in the few short years we traveled along as the new burger joint on the street, but we’ve swept over the hardships to find out what it’s like to have a well-known restaurant that is sought after by the top food critics in our city. It wasn’t easy keeping track of our money at first because I didn’t any experience in accounting. I was concerned with running the business; at the end of the day, I was covered in ingredients from my recipes, so I couldn’t play around with computers and money. My wife tried her best to keep track of our money, but it became very difficult and stressful.
Calling in the Pros
Our little burger joint started to gain popularity, but we still weren’t taking in enough profits to make ends meet. We were having trouble paying our loan back for the business, and we had some troubles paying bills because we had to pay employee wages with the money our restaurant was bringing in. My wife was doing her best to manage our books, but she was teaching herself how to do everything. We eventually talked to professionals in restaurant bookkeeping to help us straighten everything out.
My wife knew enough to discuss everything about expenditures, profit margins, and operating costs with the accountants we found. The professionals we chose to work with specialize in helping restaurants like ours make sound accounting decisions. They have years of experience, and they were happy to guide us. We were delighted to hear how they were firm on educating their staff and accountants. We knew that we could rely on the advice that they gave us. We were surprised at how smoothly their bank reconciliation specialists, tax specialists, and operating trainers handled our accounts.
Noticing Profit Increases
Our profits change throughout the year, of course. Since we have started working with an industry leader in restaurant accounting, we have noticed a consistent spike in our net profits. The professional accounting and bookkeeping team has helped us raise our gains to a new high.
For the last fiscal year, our profits stayed higher than the industry average; all four quarters, our gains consistently met our benchmarks, even exceeding them by reaching 10-13 % higher than the industry average. Talking to professionals about our business accounting needs saved our little restaurant from falling apart when we couldn’t figure everything out on our own.
Company Name: RSI
Contact Person: James Caines
Email: Send Email
Phone: (303) 458-1204
Address:1101 W. Mineral Ave. Ste. 200
Country: United States