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.
Sponsored By:-
Marketing Team – Cogneesol Pvt. Ltd.
About CompanyCogneesol Pvt. Ltd. Is a US based Business Outsourcing Company that offers premium back office services to it’s customers worldwide. Cogneesol is specialized for its accounting, bookkeeping and other back-office Services in Different Industries such as:
Accounting & Bookkeeping for Restaurant Industry Real Estate Accounting & Bookkeeping Data Management Services for Businesses Healthcare Industry Accounting Services for Retail and Wholesale Industry Insurance Back Office Services Legal Outsourcing Services Related Services for IT Industry Telecom Industry Back Office Services