Tag Archives: QuickBooks

Using QuickBooks for Restaurants

Using Quickbooks for Restaurants | Essex Junction VT | Sheltra Tax & Accounting, LLCWhether you’re operating a food truck or running a white tablecloth establishment looking for its first Michelin star, chances are that business accounting is not among your favorite tasks. 

To emphasize the importance of good accounting practices, a survey by restaurantowner.com found

  • 70 percent of owners who received monthly financial statements were profitable.
  • 75 percent who tracked weekly food and labor costs were profitable.
  • 72 percent who tracked inventory at least monthly were profitable.

Fortunately, there’s software for that. In fact, there’s quite a bit of accounting software available, but sooner or later, most businesspeople try QuickBooks.

One of the primary advantages of QuickBooks is its ubiquitous nature. Because so many businesses use it, there’s a lot of information available, including Sheltra’s own training package and a thriving online community

Of course, the caveat is that the attempt to appeal to all businesses means that it’s not perfectly suited to some of the specific accounting and information needs of the food service industry.

The four areas you will want to focus on are:

  • Recording sales. Not as simple as you might think. You need to set up your software so that a single sales receipt presents data to the right accounts for food, liquor, deposits and sales taxes.
  • Paying vendors. When set up properly, QuickBooks gives you reports on unpaid bills, the amount owed, and their due dates. You can also sort by each vendor to give you a record of your transactions with a specific supplier.
  • Payroll. QuickBooks is well positioned to help your unique payroll issues when it comes to recording wages and tips and the tax liability that will occur.
  • Reconciliation. After the daily sales are recorded, the credit card and cash accounts need to be moved to a deposit account so that you can reconcile those amounts with your bank account.

As with most software, time spent learning and implementing the program will be rewarded with accuracy and ease of use afterward. Sheltra Tax & Accounting, LLC specializes in Restaurant accounting as well as other specialized industries.  Sheltra can train your office manager or bookkeeper or handle all of the accounting functions for you.

Last, but not least, your year-end tax sessions with your preparer will be much less stressful when all you have to do is present a file.

For more information on business accounting or tax preparation for your restaurant, contact Sheltra Tax & Accounting, LLC at (802) 878-0990.

QuickBooks Software and Training at No Cost to You!

Holistic School of BusinessI am so excited to announce that I am now working as a QuickBooks and Accounting trainer at the Holistic School of Business! I accepted this position because it presents a truly outstanding opportunity for my clients to work with me at NO-COST!
Please allow me to explain…
You can apply for a $2,500 grant to get the training needed to set up a QuickBooks financial system for your business! Grants are available to eligible Vermont residents only and they’re based on financial need. Your grant would pay for your tuition in a “Business Accounting Mentorship” at the Holistic School of Business. There would be no application fee, and you would NEVER have to pay this money back!
FREE QuickBooks Software as a Bonus – Expires 12/31/16! Once your grant is approved, you’ll get a licensed copy of QuickBooks as a bonus!
When you become a one-on-one student of mine in the School’s Business Accounting Mentorship, you will work directly with me and receive the following benefits:
  • QuickBooks Setup: Utilizing the instructor’s in-depth background in accounting and QuickBooks company setup, you’ll learn how to set up your accounting system using QuickBooks, then you’ll learn how to use the software to keep your bookkeeping up-to-date! You’ll experience great relief and satisfaction in knowing that your Accounting System is finally set up for your business.
  • Individual, One-On-One Sessions: Your one-on-one mentorship sessions will be customized to meet the unique needs of you and your business.
  • Greater Ease: You’ll no longer feel stressed out come tax season because you’ll be prepared well in advance.
  • Financial Clarity: You’ll enjoy a much better understanding of your financial situation, and you have the knowledge you need to make more educated decisions regarding your money and spending.
  • Training in Small Business Accounting: You’ll learn all the fundamentals of accounting and budgeting. You’ll also develop skills to complete all basic level accounting tasks not only for your business, but for any business using QuickBooks software.
  • Budgeting: You’ll learn how to develop a budget for your business so that your spending and other financial decisions are always optimized for maximum effectiveness.
Sound too good to be true?  Well, it is true!

But, it’s urgent that you act NOW, and here’s why…

➔   The grant fund is limited and is almost out of money!  Once the money is gone, it will be gone until July 2017.  And…
➔   The FREE QuickBooks Software Bonus ends on 12/31!

The best way to get started is to schedule a free QuickBooks Consultation with me so we can make sure you will be a good match for this program. Your consultation can be by phone, Skype, or in-person in my Essex office.
Please email or call me at (802) 878-0990 to schedule your consultation NOW so we can get the process started.
I look forward to hearing back soon to get you on track to greater peace and ease with your business finances!