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Ready, Set, Grow: 15 Ways a Monthly Accounting Service Will Help Your Restaurant Through the Stages

Feb 2, 2016 8:16:00 AM / by Brian Paulson posted in restaurant accounting

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Whether you’re taking the first steps toward opening your own restaurant, looking for ways to improve profits at your existing establishment, or exploring new opportunities for growth, partnering with a monthly accounting service will help you set the table for success.

Here's a quick list of ways a monthly accounting service will help your restaurant throughout the different stages of your business.

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Ways to Boost Sales for Your Restaurant: Treat Expenses as Investments

Jan 12, 2016 9:13:16 AM / by Brian Paulson posted in restaurant accounting

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Many family-owned restaurants operate on the notion that cutting expenses is the best way to reach profitability. However, when a client comes to us for financial advice, we tend to find that they’re not overspending. More often than not, we discover that independent restaurants are closely watching their expenses, which can have a limiting effect on potential profits.

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Are You Ready for a Second Restaurant?

Jan 12, 2016 9:08:03 AM / by Brian Paulson posted in restaurant accounting

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If you’re contemplating opening a second location for your restaurant, chances are business is good. Just because your existing location is providing positive cash flow, however, isn’t the only mark that you’re ready for expansion.

Several factors to determine if you’re ready to open another restaurant should be considered before committing to the process.

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The Importance of Accurate Restaurant Performance Metrics

Jan 12, 2016 8:58:58 AM / by Brian Paulson posted in restaurant accounting

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With so many moving parts involved in operating a restaurant, calculating and reviewing performance metrics over time is a way to spot negative trends and identify areas of improvement.

This becomes especially important for restaurateurs who don’t play a hands-on role in the daily activities of running the business.

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What to Include in a Restaurant P&L

Jan 12, 2016 8:46:46 AM / by Brian Paulson posted in restaurant accounting

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Restaurant profit and loss statements are utilized to record and analyze revenue and expenses over a predetermined period of time. Due to the nature of the restaurant business, monthly statements are recommended to keep tabs on what is affecting your business on a consistent basis. Should you need to make any adjustments, you can implement the changes sooner than later.

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