Restaurant Accountants & Bookkeepers

Restaurant Accountant

A Restaurant Accountant is an accountancy practitioner that performs measurement, disclosure or provision of financial information supporting restaurant owners, managers & tax authorities to make decisions about allocating resources…

Restaurant Bookkeeper

A Restaurant Bookkeeper is usually appointed by a small to mid-sized restaurant, to prepare & maintain its Books/ Accounts in form of financial transactions i.e. Sales, Purchases, Payroll, Accounts payable, Accounts Receivable etc…

Major Difference Between Accounting & Bookkeeping

Accounting Bookkeeping

The Accounting Process Involves Recording, Interpreting, Classifying, Analyzing,

Reporting & Summarizing the Financial Data…

The Bookkeeping Process Covers Recording Financial

Transactions i.e. The First Part & the Foundation of

the Accounting Process…

Role of Restaurant Accountant Maintenance of Financial Data & Security

Preparation of Asset, Liability, & Capital Account Entries

Analyze Financial Data & Give Suggestions to Improve ROI

Prepare Financial Statements – Monthly or Annual Basis

Preparing & Recommending Latest Govt. Policies & Procedures

Maintaining Profit/ Loss account, Balance Sheet & Cash Flow Statement

Monitoring & Supporting Taxation Issues & Filings

Responsibility of Fulfillment of Financial Reporting Deadlines

Coordination with Audit Process

Maintenance of Financial Data & Security

Preparation of Asset, Liability, & Capital Account Entries

Analyze Financial Data & Give Suggestions to Improve ROI

Prepare Financial Statements – Monthly or Annual Basis

Preparing & Recommending Latest Govt. Policies & Procedures

Maintaining Profit/ Loss account, Balance Sheet & Cash Flow Statement

Monitoring & Supporting Taxation Issues & Filings

Responsibility of Fulfillment of Financial Reporting Deadlines

Coordination with Audit Process

Role of Restaurant Bookkeeper Handling Company Finances

Verify Source Documents i.e. Invoices, Receipts, Computer Printouts

Track & Maintain Inventory Records

Bank Accounts Reconciliation

Prepare & Process Payroll

Communicating With Coworkers on Daily Basis

Transfer Data to General Ledger

Prepare Checks, Payments & Bank Deposits

Manage Accounts Payables and Receivables

Handling Company Finances

Verify Source Documents i.e. Invoices, Receipts, Computer Printouts

Track & Maintain Inventory Records

Bank Accounts Reconciliation

Prepare & Process Payroll

Payroll for Restaurants

Communicating With Coworkers on Daily Basis

Transfer Data to General Ledger

Prepare Checks, Payments & Bank Deposits

Manage Accounts Payables and Receivables

Receivables

Payables

The Bottom Line: -

Every Small/ Medium Sized Restaurant Needs an Accountant or Bookkeeper to Manage it’s Accounts.

Some Entrepreneurs Prefer to Hire in-house Accounting Teams & Others Prefer Outsourced Accounting Firms to Prepare their Books to Save their Time & Investments.

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