How to do Bookkeeping for a Restaurant

Even for the most experienced, accomplished restaurateurs, restaurant accounting is like a foreign language. How do you calculate prime costs? How do you choose a restaurant accounting software? What’s a profit and loss statement? What’s the difference between accountants and bookkeepers and accountants? Restaurant accounting is a complex process with many moving parts measured against industry standards. To put it lightly, it’s pretty intimidating - not to mention time-sensitive, time-consuming, and accuracy-dependent. Even though restaurant accounting is daunting, understanding the basics is not impossible. When you do, you can make wiser finance-driven business decisions. Trust us, it’s worth the initial headache!Let’s go over the steps you need to take to set up your restaurant accounting, as well as helpful software solutions that will make this job easier.