Blog
April 21, 2021
Accounts receivable are created when food and beverages are sold to the customer. According to the nature of sales and payment method, we have divided accounts […]
September 12, 2020
A payroll journal entry is a method of recording expenses in the accounts book of your restaurant pertaining to employee compensation. A payroll journal record incorporates […]
September 12, 2020
For example, an employee takes an order and the client changes their mind. If the servers are voiding items that are delivered to the client instead […]
September 12, 2020
A restaurant is neither a thing nor a structure nor a group of people and certainly not a recipe, concept, or a brand. It is a […]
September 12, 2020
The time taken to prepare a restaurant’s financial statements after the end of the reporting period matters a lot. The quicker the financial statements get in […]
September 12, 2020
Accrual basis accounting means that revenue is “documented” or “recognized” when it is received and expenses are “documented” or “recognized” when they are incurred, regardless of […]
September 12, 2020
According to the Uniform System of accounts for restaurants issued by the National Restaurant Association, the budget for ongoing bookkeeping and accounting is about 1 percent […]
August 3, 2019
ARTICLE HIGHLIGHTS – This article covers exclusions for – Meals & Lodging received by employees Scholarships received Compensation for injuries & sickness Payments received from Damages […]
July 8, 2019
Let us suppose you sometimes make paintings at a nearby rented studio as a hobby, and you occasionally sell those paintings at a local marketplace. You […]