Planning for the Future: Outsourcing Bookkeeping

With the advent of Q4, many restaurant operators are in planning mode.  Topics for discussion may include capital expenditures, a 2019 budget and annual menu costing.

If you’re reading this and you are not currently a Macro client, outsourcing may be on your mind for the new year.  In 2017, Restaurant Owner conducted a survey of operators to ask how they handle accounting-oriented tasks.  From the survey, it developed a list of best practices common to profitable operators:

 

Weekly food and labor cost reporting

75% of operators that received weekly food and labor costs were profitable

Only 60% of respondents that didn’t get weekly reports were profitable

 

Having a financial Profit & Loss statement at least monthly

73% of operators that received monthly financial statements reported being profitable

Only 49% of respondents that received just quarterly or annual statements were profitable

 

Counting and computing inventory on a weekly or monthly basis

72% of operators that do an inventory at least monthly were profitable

Only 58% of operators that don’t compute inventory values are profitable

 

If you are interested in applying these best practices in 2019, now is a great time to start a conversation.  Email us, info@macromgt.com, or call our office, (210) 226-1047.  We suggest all of the above – and much more!  To read the entire story about the survey, click: https://www.restaurantowner.com/public/How-Independent-Restaurants-Handle-Accounting-and-Reporting.cfm

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