Louisiana Restaurant Association – Summer 2022 Issue of “A La Carte”
Restaurant accounting is an ongoing challenge. To operate your restaurant at its maximum to measure revenues, expenses and profitability, all restaurant owners and operators should have solid accounting practices in place.
The key reasons being to measure the key financial indicators of a restaurant’s operations, including, but not limited to, segments of revenue (food, beer, liquor, and wine), cost of goods sold, total labor costs, and various indirect costs (credit card fees, rent, insurance, supplies, etc.). Next to the food and beverages quality, service, and atmosphere, accounting practices are critical. It provides the measurement of the success of operations, as well as provides indicators to the operators of what needs to be addressed and corrected to be profitable at the operations in place. Read More >