It’s like riding a unicycle while juggling knives on fire. No doubt it’s exciting, but comes with a lot of responsibility. What’s one of the more difficult parts? Bookkeeping. If that word makes you cringe, I understand. Let’s take a look at it, share some stories and perhaps have a few laughs and visit restaurant bookkeeping worchester together.
Imagine this: It’s Monday and you are sitting at your cafe, drinking coffee while you stare sarcastically at a mountain of receipts. This is a scene straight out of a horror movie, only with more caffeine. The receipts will not organize themselves. That’s when bookkeeping comes in with its cape flapping on an imaginary breeze. The unsung hero is the one who keeps your financial ship afloat.
Tracking your expenses should be the first thing you do. Each and every one. Even the bulk pens, ingredients, staff wages and neon sign that you thought you needed are all included. Writing down every dollar is a mission-critical task. It’s a bit like herding cat, but it’s worth it. After a long, sleepless night, it’s possible to discover that you made a questionable buy, such as a year of artichoke heart supply. What were you thinking?
Next up, sales tracking. Cha-ching! Money rolling in can make you feel good, but there are plot twists. You may remember the time when you advertised a “Lobster Wednesday” special and everybody and their dog came? You need to accurately record your sales so that you can show the tax man what you have.
Let’s now talk about the payroll. Payroll has the potential to be chaotic, like a child playing with Nutella. The payroll situation can quickly become messy. It’s important to keep track of employee hours, bonuses, and other benefits. Don’t forget about taxes. It’s that last, sneaky plot twist no one could have predicted.
Taxes don’t have to be as bad as they are on Elm Street. Preparation is key. You will be able to send yourself a thank you note in the future if you regularly set aside money for your tax obligations. Imagine stashing chocolate away for a rainy-day.
Let’s move on to the subject of inventory. Like doing a count in the Wild West. Keep track of everything that comes in and goes out. You don’t want to end up with a whole freezer of frozen linguine and no tomatoes. Stock counts aren’t for fun; they keep waste and heartache to a minimum.
Then there is the technology. If you are willing to work with the software, it can help you reconcile your books. The software may be a little too technical for some people, but it’s worth the effort once you get over that hill. Cloud-based software makes life easier and gives you more time to do other things.
As we conclude this informal discussion about restaurant bookkeeping remember that it doesn’t need to feel like you are balancing a national physics budget. Take one wobbly, small step at a. It’s not glamorous to unravel this financial puzzle, but mastering the art of it could be your secret sauce for running a successful food establishment. Pour another cup of espresso, say a few sweet things to your spreadsheets and apply the same passion you bring to your cooking to your numbers. Good luck to you, brave number wrangler.