Restaurants

Restaurants might seem as though they have no need for accounting, but consider the size of their cash flow for both in and out for food purchases used for meal preparation and serving. It’s a lot of room for errors and misappropriations. In fact, most restaurants fail because of inaccurate bookkeeping. Having an experienced accountant or bookkeeper is key to understanding the financial health of a restaurant and its overall success.

In addition, a restaurant is a more volatile financial environment. Due to the mere nature of a restaurant, the finances are based on the amount of satisfied customers and the volume of business at a much higher frequency than other business models. Thus, the pace of the cash flow of a highly popular restaurant is much faster, and this requires more attention and experience from accountants and bookkeepers.

Our accountants and bookkeepers here at Ottawa Bookkeeping have the expertise and knowledge that will benefit your restaurant. With our help and guidance, we can help you analyze and structure the specific operational aspects of your restaurant to correctly and accurately account for all cash flow in and out of the accounts.

We offer the following services which can be performed either monthly or quarterly as per the structure of the restaurant:

• Reconciliation of banks accounts
• Income statement preparation
• Balancing sheet preparation
• Preparation of billing statements and expense reports
• Preparation of the general ledger
• Analysis of customized reports that target expense handling

We also offer the following services, and these services can be performed weekly, bi-weekly or monthly as per the structure of the practice:

• Payroll preparation
• Posting cheques, deposits, and credit cards
• Writing cheques
• Assisting in collecting outstanding receivables
• Cash management

You can trust Ottawa Bookkeeping to help keep all your records and accounts in order. Our accountants and bookkeepers are reliable, professional, and easy to work with!