Managing restaurant data is tough. Tabulate can help.
Managing restaurant data is tough. Tabulate can help.
As you might imagine, doing taxes for your restaurant or bar and doing them for yourself are completely different operations. On your personal tax return, you provide your various income streams, factor in the taxes you’ve already paid, calculate any deductions, and then see whether you’re getting money back from the IRS or you have to pay more. And that process is difficult enough for many people that they hire a professional to prepare their income tax.
The tax return for your business is more complex by several degrees, as you have to account for labor, taxes, investments, inventory, tips, capital, and more. So why do so many restaurant owners feel they can do their taxes on their own as if they’re filing their personal W-2 online via TurboTax?
Think of it this way: people come to your establishment to dine on food on beverages created by expert chefs, so it’s time you hired expert bookkeepers and accountants to help prepare your income tax return.
If you’re still unsure about the need to invest in professional help for your income taxes, we hope these three proof points will change your mind.
Yes, we mean absolutely everything. You must account for forms like:
And that’s just for starters! To complete a thorough tax return that won’t alert the IRS to conduct an audit, you have to present all the financial dealings of your restaurant or bar from the entire year. Not tracking your documents is the biggest mistake a restaurateur can make, even if they’ve contracted with a professional accountant.
Set yourself up for success by creating clear processes for how, when, and where you’ll keep everything for tax season. Better yet, invest in a software and service that helps your restaurant streamline your documentation processes well in advance of tax season.
Let’s be clear – step #2 can’t be truly effective unless you’ve followed step #1 to the letter. The list of what you can deduct on your taxes is long, detailed, and complicated, and you need all the information about your expenses and income. Why? Because keeping track of them absolutely crucial to the success of your tax return and business. It includes big-ticket items like:
And that’s just a fraction of the expenses you can count! Sure, you could keep a list of deduction handy for when tax time comes, but it would make more sense to partner with a bookkeeping expert in the food service industry who knows this stuff inside and out.
Besides, wouldn’t you rather spend your time perfecting your menu and increasing the quality of customer service from your staff than attempting to be your own CPA?
Even if you execute steps #1 and 2 effectively, you will still be in trouble if your sales tax income and payments are out of whack. Because once you fall out of compliance with your sales taxes, the path back to compliance can be long and costly.
You need your Point-of-Sale system to be aligned and audited to ensure your restaurant or bar collects and reports sales taxes correctly. The best way to ensure sales tax compliance all year long is to work with experts in the food service industry who can prepare your systems for maximum accuracy.
Ready to get your taxes prepared bookkeeping professionals who work exclusively with restaurants and bars? Tabulate will make sure your balance sheet is accurate, your taxes are correct, and your documentation is on-point. We’ll deliver clean books to your CPA so your tax return will be precise and on time.
And if you sign up with Tabulate before 03/01/2019, we’ll even prepare your 2018 income tax return for free. Contact us today!
Research states that almost half of us set New Year’s Resolutions each year, but only 8% of those resolutions are kept. While that low success rate might be acceptable for your personal goals to lose weight or get better with your own finances (the two most common resolutions), you can and should do better for your restaurant or bar.
Tabulate has decades of experience working with all manner, shape, and size of food-related businesses. As a result, we’ve created a clear set of actionable steps that ensures your restaurant starts January on a path to success and follow it through December. And the best part? You can re-use these 4 resolutions every single year – as long as you have access to your financial data and insights into your performance metrics.
It really can’t get more basic than this one. To truly improve the overall efficiency and efficacy of your staff – both in the kitchen and on the floor – you should locate every opportunity to revisit, review, and refresh how you work. This includes:
And just because something worked last year doesn’t mean it can’t be improved. You can’t afford to sit still on past performance if you want to achieve growth in the future.
It doesn’t mean you have to re-invent the wheel. Simply find ways to improve the day-to-day operations of your establishment, which helps your employees, your books, and your customers.
Unless you’ve been around for literally decades serving only regular customers without ever seeing anyone new walk through your doors, your restaurant or bar needs to be on the Internet. Not only do people increasingly place orders online through restaurant websites, but they use the Internet to learn about your business – whether you’re there or not.
A few introductory suggestions include:
Getting your place online doesn’t have to be difficult, but you must be strategic and pay attention to what’s happening online.
Yes, this suggestion isn’t new. In fact, you should always seek ways to increase traffic from your favorite customers. But in a digital world where even one bad review can spell doom for a business, you should seek out new and interesting ways to turn your regulars into your best salespeople.
In an age where influencers are the new marketing currency, restaurateurs will find greater success by deepening their relationships with your most loyal customers. 92% of people say a friend’s recommendation is their most trusted source of information. Hence, your restaurant or bar being at the top of mind for your regulars will go farther to increase sales than the most glowing of professional reviews.
Your goals must be specific. They can’t be something vague like “Increase revenue,” “Increase sales,” “Turnover tables faster,” or “Decrease overhead.” You need to dig into your numbers from the past year to determine what worked and what didn’t work to determine how you can be more profitable in the coming year.
We recommend options like:
As one of our favorite marketing gurus frequently states, “If you can’t measure it, you can’t improve it.” You must know what’s happening in your books if you have any hope of creating and meeting your revenue goals.
This is where Tabulate can help you shine in 2019. As a comprehensive back-office solution, we provide expert bookkeeping, payroll, and financial services designed specifically for the food service industry. Our staff has over 75 years of experience working exclusively with restaurants, bars, and related businesses. We can balance your books, process your payroll, pay your vendors, deal with the TABC, and help you understand your financial and performance data better than ever before.
If you think your establishment needs help setting and achieving its goals for 2019 and beyond, contact Tabulate today!
At Tabulate, we work with all major point-of-sale systems. In fact, the entire point of our software and services removes the need for you as the customer to do any data entry when it comes to getting sales data into our platform. Our experience working with such systems on a daily basis has led us to create our 4-point POS configuration checklist designed to ensure you’re tracking everything correctly in your restaurant or bar.
While we recommend Toast, Tabulate works with the following POS systems:
Ready to learn more about how Tabulate can help your establishment find long-term financial success? Let’s talk!
No matter the size of your establishment or the demographics of your regular customers, you must pay your mixed beverage taxes correctly, or you’ll be in world of trouble with the Texas Alcohol and Beverage Commission (TABC).
If the TABC finds you in violation of those fees, you will face stiff penalties, including:
Tabulate recognizes how difficult tracking your drink taxes can seem, especially to inexperienced owners opening their first Texas restaurant or bar. With over 75 years of experience exclusively with the food service industry, our expert bookkeepers have three tried-and-true tips to help you find success with the TABC.
First things first: you need to track liquor, beer, and wine revenue separately. Yes, they are all forms of liquor, but you have to properly remit taxes on the sales of each item. That means accounting for the amount of booze you use for each and every mixed drink by ensuring that your POS system know exactly what goes into every drink on your menu.
That’s the obvious stuff, so what about comps? It’s a little-known fact in our industry that Texas also collects tax on the drinks you give out to your customers as compensation – no matter the reason.
To make sure you quantify and pay these taxes properly, Tabulate always recommends that you code comps in your POS according the item being comped, not according to comp reason.
This POS configuration is the only way you can ensure your totals add up correctly.
You must pay your bills to your alcohol distributors by the 10th and the 25th of each calendar month. If your bills are paid even a day late, the distributor can choose to report you to the TABC for non-compliance. And if you get on “The List,” the TABC can make sure that distributors won’t sell to you.
Since the liquor vendors are supposed to turn in customers for non-payment, there is an unwritten grace period that many of them follow. They will often call people directly to request full payment or set up a payment schedule before reporting to the TABC.
All of this means you have to manage your cash flow very carefully. A good bookkeeper will keep you apprised of your cash flow situation to help you prioritize and pay your bills so you stay out of hot water.
On average, the TABC will audit each licensed establishment once every 5 years. The state knows exactly how much inventory you have purchased because they get regular reports from all licensed distributors.
So, if you think you can hide, you’re wrong!
Unlike other types of audits, this TABC 5-year audit is a depletion audit. This unique audit gives the TABC permission to guesstimate the revenue you should have made and then assess a tax bill based on that estimate. If you don’t like that tax bill or estimate, you have to prove to the TABC they are wrong, or they are legally allowed to fine you!
If you want to find success with your mixed beverage taxes and the TABC, your Texas restaurant or bar must have clean books and a properly configured POS system. Standing up to TABC levels of scrutiny requires the careful attention to detail that you can only obtain from the professionals at Tabulate. With 75+ years of experience delivering bookkeeping services exclusively for the food service industry, we provide bookkeeping, bill pay, detailed analytics, and financial statements for independent restaurant and bar owners starting at $299/mo.
Contact us today to learn more about how we can help your business!
No matter the size, shape, or format of your establishment, you must maintain a regular insight into your budget. While this seems fairly obvious, it’s absolutely that you maintain a firm grasp on where, when, and how your money flows.
You must develop a nuanced understanding of your expenses if you want to first break even on your initial investments and then start generating regular profits. Let’s start this discussion by identifying the places your money goes on a regular basis:
And this doesn’t even count paying off loans and other expenses related to opening a brand-new establishment. This is just the day-to-day stuff that you’ll see in any average balance sheet or Profit-and-Loss Statement. Luckily, those above items can be lumped into three basic categories:
What matters most is maintaining a healthy ratio between these three and the profits you should earn if you hope to build and sustain success. Most food service industry experts recommend keeping your Prime Costs (Food + Labor) between 60-65%. You should keep your operating expenses well under 30% if you have any hope of breaking even, much less earning a profit.
Ready to get into the numbers behind your money a bit?
This one is straightforward. You have to pay for the materials that you’ll then shape, cook, and prepare into the items you sell. The tricky part is determining how much to sell a dish or drink for compared to what you spent to purchase the components.
In restaurant accounting parlance, this concept is called “Food Cost Percentage.” It’s calculated by dividing the Cost of Food by Total Sales. For example:
What your establishment sells can directly impact those percentages. Some expensive items will be loss leaders, as it costs you as much to purchase that tasty steak or rare fish as it does to sell it. This can be made up in the sale of beverages and desserts, which historically have much higher margins.
Having a firm grasp on these specifics will help you learn exactly what items you need to push at which times of day. It will be especially helpful if you need to strike a firmer balance on your Food Cost Percentage.
Unless you’re running a food cart where you’re the only employee, you will have to pay the people who work for you. And even in that instance, paying yourself a salary needs to be tracked separately from your profits.
Labor costs include items like payroll, tips, benefits, and anything else directly related to your employees (including training, but excluding supplies). To determine the Labor Cost Percentage, you divide Labor Costs / Total Sales. Extending our earlier example:
Labor might be a more pronounced variable cost than food and beverages, because your employees have a voice. While food costs have risen slowly but consistently over the past few years, labor costs have increased at a higher rate. This is especially true when you factor in benefits like health care and the push for higher minimum wages.
As you’d imagine, this category comprises everything else in your establishment: rent, overhead, toilet paper, napkins, cutlery, utilities, marketing, your Point-of-Sale system, your bookkeeper, your accountant, and more. However, this is not a place to nickel-and-dime the money you spend in hopes of dramatically cutting costs. For example:
These categories represent a prime opportunity for you to lose track of what’s happening – and quickly. While an individual cost might be small compared to payroll or liquor, you need to keep them collectively under 30%, especially if you’re struggling to keep Prime Costs under 65%.
Running a restaurant or bar is not all fun and games, despite what Cheers might have taught us in the ‘80s. So, as much as you might objectively love your menu and customers, you’re still operating a business. And that means constantly paying attention to your money.
This is what sets Tabulate apart from its competitors – and your friendly neighborhood accountant. We integrate directly with your POS system to examine your sales, costs, expenses, profits, and margins in great detail. Our job is to crunch your numbers and then provide you with accessible and understandable reports laden with suggestions and recommendations you can use to make your business succeed.
To learn more about what we can do for your establishment – from franchises and high-end restaurants to dive bars, coffee shops, food trucks, and everything in between – visit Tabulate.com today!
Not every restaurateur is an experienced accountant. This is especially true if you’re a chef or bartender trying to get your first establishment off the ground on your own terms. You’ve spent years cultivating the menu and concept of your dreams. Now, you now must learn key restaurant accounting numbers so you can better run a successful business.
With any luck, you’ve found an excellent accountant to help you manage the books, but you also realize the importance of understanding those figures and terms yourself. We suggest learning a few key concepts driving the financial side of the restaurant world. You should be able to decode the reports you receive from your bookkeeper and make good decisions for your business.
This one is a no-brainer. It represents everything you’ve sold to your customers. We recommend reviewing sales from a range of perspectives, including various time frames and types of items sold. Investigating your sales will help you better understand what your customers want and gives insight into the overall trends in your accounting numbers.
Known by the acronym COGS, this number represents how much it cost you to create the items you sold. As in, a customer purchased a dish for $10, but you spent $3 on it in terms of food, labor, and related costs. To calculate COGS, add up your Beginning Costs and Purchased Inventory and then subtract your Final Inventory.
Also known as “Food Cost Percentage,” this gives you a clear metric you can point to regarding your expenses. Recent research states that a healthy restaurant keeps this number around 28 to 35%. You can derive it by dividing your Food Costs by your Total Sales.
Thanks to a commonly used worksheet called a “Profit and Loss Statement,” it’s easy to see this number in action. It’s simply the result of subtracting Costs from Revenue. It’s also one of the best top-line restaurant accounting numbers to keep in mind at all times.
Now, we’re getting into the weeds a bit, but this number is a crucial indicator of your financial condition. Prime Costs represent the big items that you regularly spend money on, the stuff you need in any sort of restaurant.
How you manage these expenses compared to your revenue goes a long way toward building a successful establishment. To get this number, simply add together Labor and COGS. And if you want a healthy restaurant, keep prime costs under 60% of your revenue.
This broad number considers everything not directly related to what you actually sell in your establishment. It can be grouped into three categories.
As important as your menu is (Why else are people coming to your restaurant, bar, or food truck?), you must keep these costs in mind when creating and maintaining your budget.
Finally, we’re at the big one – the number that tells you how much you need to make to cover all your various expenses before you actually make money. That calculation looks like this:
Total Fixed Costs / [(Total Sales – Total Variable Costs) / Total Sales)] = Break-Even
You can use this number in a variety of ways – a benchmark of overall health, a metric toward paying off an investor, a goal you want to reach before making a new investment or purchase, and so much more.
At Tabulate, we understand that not everyone understands these leading restaurant accounting numbers, much less has the experience at navigating them successfully. With our all-in-one back-office solution, you’ll gain access to software where you can view all your reports and financial data on your terms. We also deliver bookkeeping and payroll services from experts with decades of experience working exclusively in the food service industry.
We have plans to meet every budget and business size, from franchises and regional chains to dive bars, food trucks, coffee shops, and everything in between.
Running a successful restaurant is no simple endeavor. Obviously, you need to have a strong concept, a superb executive chef, and the right staff to execute your culinary vision so people return to your establishment. It also helps to have someone around with restaurant accounting acumen, because, if your finances get out of whack, that’s the first sign you might not succeed.
The bookkeeping experts at Tabulate have spent decades helping restaurants, bars, and other food-related businesses grow, thrive, and prosper, and it’s all because they’ve encouraged their clients to follow these 9 best practices for accounting and bookkeeping in the food service industry.
Unless you are an actual licensed CPA who just happens to run a thriving food truck train on the side, you need to hire someone to take care of your annual financials. Not only will this person help with annual and quarterly taxes, but a good accountant will walk you through the day-to-day and big-picture bookkeeping reports so you know exactly what’s happening with your business.
It comes down to time, effort, and know-how. Sure, you could track the hours and cut the checks manually for your employees, but you also need to keep track of the various laws, regulations, and taxes pertaining to your workers – and do so at the local, state, and federal levels. So, just like you’re the expert of the food you create or the drink you mix, that payroll company is the expert you need to take care of your people and your business.
This might seem obvious to you, but we’ve seen our fair share of small businesses fail to complete this basic step. It happens for a variety of reasons – cash flow concerns, poor internal bookkeeping practices, you forgot, etc. – but it’s crucial to the health of your bottom line that you pay your taxes and pay them on time.
Not only does this apply to everything you sell (since food service sales are retail sales requiring that you pay sales tax), but you have to account for payroll taxes and any other applicable taxes assessed in your area. Simply put, you should follow Tips #1 & 2.
Not all point-of-sale systems are created equal, and not all of them are designed for use in the food service industry. Even more, there are some basic POS systems that don’t provide integration with any of your back-office functions, from inventory and timesheets to restaurant accounting and reporting. You need something that connects the numbers for your whole business into a unified whole.
We cannot recommend this highly enough. Depending upon the size of your establishment, you probably could get away with a monthly inventory, but if you have more than a couple days of the week with high-volume sales, you need to check your stores every week. This gives you an idea of what you have, what you need, what you’ve sold, and how those data points speak to the demands of your customers and the health of your business.
And that’s just for your nonperishable goods. You definitely need to review your inventory on a regular basis to ensure the food you’re serving is fresh and then match that against what your POS system says you’ve sold.
This is not a call to simply look at what you sold on a given shift or at the end of the day. We’re suggesting that you dig into the details of what comprised those sales. Think of it as the inverse of Tip #5, as correctly tracked sales should be reflected in your inventory. And if it’s not, you have a theft problem on your hands, which also means you’re losing money – both of which are bad.
Specifically, you should keep tabs on your “prime costs” – total labor (payroll, benefits, insurance, etc.) + total costs of goods sold (food, booze, etc.). Industry experts hold us 60% as a good benchmark of financial health, as in you want to keep your prime costs around 60% of your total costs. And if those prime costs start to exceed 65%, you’re in trouble.
Remember that POS system from Tip #4 and that outsourced accountant from Tip #1? In a perfect world, they will be working in concert to deliver the reports, insights, and analysis you need to gain a truly holistic picture of your establishment.
Even more importantly, you need to check those numbers yourself, because if you don’t understand what’s happened, you certainly can’t set a fresh course forward. By connecting with your bookkeeper over your numbers on a regular basis, you can set monthly, quarterly, and annual goals to track against and for your staff to achieve.
We’re not suggesting that you blindly follow current trends or that you copycat what your friends and competitors are doing across town. We are recommending that you occasionally chat with other restaurateurs, bar owners, food truck operators, and whoever sits in a similar niche as yours and compare notes.
Not only is networking an important skill to learn, but you can use the information you receive to set benchmarks for your own place. Besides – that friend of yours might have industry access you don’t have, and you can’t put a price on good intelligence from a trusted source.
Interested in putting these nine restaurant accounting best practices into action with one fell swoop? Talk to Tabulate today! With our all-in-one back-office solution and software, we’ll take care of all your bookkeeping and payroll needs, and you’ll have access to top-notch reporting and insights from industry experts who want to see you succeed.
Starting a new restaurant or bar from scratch can be fraught with complications. The issues you face range from securing the necessary capital and employees to completing the build-out of your space in anything close to your original time frame and budget. This is especially true if you’re a newly minted restauranteur without any prior experience in the food service industry. It’s crucial that you learn the appropriate accounting terms so you can set yourself and your establishment up for success – and so you better understand the reports you receive from your bookkeeper and accountant.
Amortize – Similar to paying off a substantial loan over an extended period of time, this term comes into play specifically in reference to large pieces of equipment that can decrease in value over time.
Breakeven – This is the point where your total costs and total revenue are equal. As in, while you might not yet have profits, your restaurant is also not operating at a loss anymore. This is a good goal to aim for during the first or second year of your new business.
Capital Expenditures (Capex) – Fairly self-explanatory, “capex” refers to the money you spend on physical assets for your restaurant: equipment, buildings, etc.
Customer Acquisition Cost (CAC) – This number tells you how much you’ll spend to gain one new customer from scratch. It includes several variables – location, current market, competition, and more. You determine it by calculating how much you spent in research, development, sales, and marketing.
First-In, First-Out – A key concept for inventory management, the principle dictates that you serve first what you bought first. Not only does this help keep your stock and servings fresh, but it gives you a cleaner understanding of your expenditures on that stock.
Fixed Costs – Also known as “Fixed Expenses,” these set-in-stone costs encompass rent, insurance, base salaries, and similar expenditures. Because they rarely change, you can anchor the rest of the budget you have for your establishment around them.
Lifetime Customer Value (LCV) – Typically calculated as (Average spend per month × % of Gross Margin) / Churn Rate. This number determines how much an average customer is worth to your establishment by factoring out the differences between unique customers.
LCV to CAC Ratio – The difference between how much a customer is worth and how much you spent to acquire that customer. In even simpler terms, if your CAC is higher than your LCV, your restaurant might be in trouble.
Margin – Often referred to as “Gross Margin,” this is number is simply Sales – COGS. As in, if you brought in $100 in sales and it cost you $90 in products to make those sales, your gross margin was $10 (or 10%). Recent studies have shown that average restaurant margins are currently range from 3 to 6%.
Markup – Related to, but definitely note equivalent to margin. This concept measures how much you increase the price of what you sold over what you spent to make the product. Think of is as Cost – COGS. As in, you sold a dish for $10 on your menu, but since you spent only $5.00 assembling the component parts of that dish, your markup was $5 (or 50%).
Overhead – This is a catch-all expense that includes utilities, paper goods, office supplies, and the other seemingly minor costs unrelated to your actual menu items that all go into operating a successful bar or restaurant.
Revenue per Available Seat-Hour (RevPASH) – It’s usually calculated with the formula Total Net Food & Beverage Revenue / Number of available seats in a certain time period. This number reflects the health of your establishment by how much sales you bring in (minus taxes, discounts, etc) against the number of seats you have. It can fluctuate depending upon how many seats in your establishment you choose to fill at any given time period. You could determine not to use specific sections of your restaurant or bar because lower traffic time periods means you need a smaller staff to provide coverage.
Variable Costs – The inverse of “Fixed Costs” from earlier, these are the expenses that can change will every billing cycle. They include overtime, tip share, utilities, food costs, and more. It is imperative you manage these costs effectively because wide swings can directly impact your bottom line on a month-over-month basis.
Even the most experienced restaurateur can get overwhelmed by the nuances of the accounting and bookkeeping terminology necessary to become successful in the food service industry. With over 50 years of working exclusively with bars, restaurants, and other food-related businesses across Texas, Tabulate has the experience and expertise to take care of your books and set them on the path to profitability.
You got into the restaurant business because you love food, not because you wanted to spend all of your time pouring over spreadsheets and learning about restaurant accounting practices. But you also know how vital it is to have your books and numbers in tip-top shape at all times. Your strong concept and winning recipes won’t matter if you can’t afford to keep the doors open.
So, whether you enter your own numbers into a third-party software program or you want to understand the reports you receive from an outsourced service like Tabulate, there are simply some concepts you really should understand if you want to set your establishment on a path to success.
Accounts Payable – Money you owe to others. As in, you bought some produce from a regional provider, and you need to pay them for those fruits and vegetables.
Accounts Receivable – Money owed to you by others. As in, that produce company has an accounts receivable file on you for the stuff they sell your restaurant.
Assets – A physical resource with a tangible economic value. Think of it like the kitchen equipment or tables and chairs you own – it’s stuff you could resell at a later date, if needed.
Cash Flow – Directly related to liquidity as a measure of business health, this is the amount of money moving into and out of the company.
Chart of Accounts – Simply put, this is the complete list of every single item of interest in your financial records, including assets, liabilities, equity, revenues, expenses, and more.
Cost of Goods Sold (COGS) – The amount of money it took to make the products your customers purchase. In other words, COGS tells you how much it cost to create that plate of food you sold to the customer, not how much you sold it for to that customer.
Gross Profit – We like this equation: Gross Profit = Sales – COGS. In other words, it’s the profit your restaurant or bar is making after you subtract what it cost you to make that money.
Gross Profit Margin – It’s a measure of your overall business health directly related to your food costs. You calculate it thusly: (Gross Profit / Revenue) x 100. The higher your gross profit margin, the better off you are, and you really want it to exceed 60%.
Liabilities – The inverse of assets. As in, until you own your stove, chairs, tables, and freezers outright, they are considered liabilities against your bottom line.
Net Profit – The final step in analyzing the profits for your restaurant. Otherwise known as the bottom line, you derive this number using the following equation: Net Profit = Operating Profit – Taxes and Fees.
Operating Expenses – A general catch-all terms for expenses unrelated to your COGS, including rents, utilities, payroll, and more.
Operating Profit – A step beyond gross profit, this measure takes into account items like overhead and labor. You can calculate it as follows: Operating Profit = Gross Profit – Operating Expenses.
Prime Cost – The next step past COGS. Prime costs includes the price of the materials and the labor required to create any given dish or beverage.
Profit and Loss Statement – Often referred to as an “Income Statement.” This document compares your expenses against your revenues to provide a baseline assessment of your restaurant’s success.
Revenue – This is one step beyond sales, as it includes income from sponsorships, investment, vendor comps, and other non-sales factors.
Total Sales – Literally, it’s the amount of money brought in via sales before you subtract COGS, labor, or anything else.
Interested in learning more about these restaurant accounting terms without needing an advanced accounting degree? Talk to Tabulate! The experts at Tabulate have over 50 years experience doing bookkeeping exclusively for the food service industry. We pride ourselves on working closely with all our clients so they understand exactly what’s happening with their numbers.