Restaurant equipment costs add up quickly. Learn what to budget for refrigeration, cooking equipment, prep stations, installation, and more.
You shouldn't run personal expenses through your restaurant for multiple reasons, but here are the top 5:
Category Archives: General
Accounting, General, Restaurant Accounting
inKind for Restaurants: A Game-Changer or Accounting Nightmare?
30
Jul
Jul
inKind is an unconventional source of financing that is emerging everywhere for restaurants. inKind advances interest-free capital to restaurants in exchange for credits that inKind app users can redeem for a discount at the restaurants within a specified period. Customers use the inKind application at restaurants to pay their bills and receive a 20% discount.
04
Jul
Jul
If you own the real estate for your bar, restaurant, or nightclub, you have likely been advised by your lawyer or accountant to place it into a separate LLC. There are many legal and tax advantages to separating your real estate from your operational entity. In The Best Tax Classification for Your Restaurant, we explain
General, Restaurant Accounting, Restaurant Accounting Automation
Financial Document Retention for Restaurants & Bars
10
May
May
The number of documents that restaurants and bars need to handle is overwhelming. You are constantly hammered with invoices, receipts, statements, operating agreements, leases, licenses, liquor board reports, purchase orders, tax returns, K-1s, etc. Luckily, digitization and cloud migration have alleviated some of this burden. Well, has it? We frequently talk to operators storing the
Restaurant Bonuses and Incentive Plans, General, Payroll & Labor
The Ideal Restaurant Management Incentive Plan in 3 Steps
11
May
May
The rise in operating costs and shortage of restaurant labor has forced restaurant owners to incentivize key employees with performance bonuses and equity by building the ideal restaurant management incentive plan. The ideal incentive or bonus plan should: Incentivize and reward key employees for increasing profitability and improving the hospitality experience; Provide an ROI to
15
Jul
Jul
You've got questions; we've got answers. Where do you draw the line with unlimited access?Unlimited access gives you unlimited access to your Controller for meetings, emails, calls, etc., and any service in our wheelhouse that doesn't require a monthly plan upgrade. This includes, but is not limited, to GAAP audit support, state tax registrations, S-corp
