The Rise Of Minimum Wage

Things to think about Minimum wage is on the increase. It affects not only the minimum wage earners but to the entire organization. Proponents of the raise say that worker's loyalty will increase and the quality of work should rise with the raise. Opponents bring up...

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Reporting Tips

Tip reporting obligations Tip adds to the employers responsibility. Tips belongs to employees. But still employers need to monitor the amount and report them with payroll. Often cases because taxes are deducted from the tips but tips are already distributed as cash,...

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Health Care Reform

Obamacare has brought a lot of confusion to small businesses. Many business owners care for their employees and are willing to take care of them but the care we want to provide to employees have been restricted and put in a standard box. If we go out of the box, we...

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Tracking Regular Sales

There are certain sales categories in food service operations that needs to be accounted for with care in order to understand your financials and help you make decisions. Keeping track of sales There are certain options for keeping track of sales. Here are some; Keep...

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Tracking Regular Expenses And Purchases

There are certain expenses that needs to be accounted for with care in order to understand your financials and help you make decisions. Purchases at general stores When purchasing items at general stores, it is especially important for you to separate personal and...

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Which Category Should I Use?

The next element is the category. Do you want to account separately for food cost and beverage cost? Do you want to take account for supplies such as napkins and to-go boxes differently from detergents? All these should be clarified to get a better understanding when...

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When To Account For Inventory

The next element is accounting for inventory. Especially if you stock up a lot of items (such as beverages) to take advantage of discount, there may be a lot of inventory left at the end of the month. If you include everything you purchased as cost at the month of...

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When To Account For Purchases

The first element is the question of when you account for costs. Accounting for costs at the time the stuff is delivered or when you pay it. Since a lot of restaurant food purchases typically are paid at the beginning of the next month, accounting for purchases at the...

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What Do I Track With Food Costs?

For a restaurant, accounting for costs can be pretty complicated. There are three important elements to account for costs; When was it purchased? What is the remaining inventory? Which cost category should it be in? The above elements are important points in...

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Accounting Methods

There are two methods in accounting. Cash and Accrual. Cash basis is accounting for all things when you receive payment or when you pay for expenses. Accrual method takes into account of sale or expenses when it is incurred. For example, when you make a purchase and...

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