Taxes should be submitted by now and restaurant accountants nationwide need to go to Hawaii and get a breather. Once you are fully rested and ready to get back in the saddle, the next task for most accounting teams is to find ways to be more efficient, more accurate, and more responsive to those making decisions on the data you provide. All departments should always be striving to become better. One of the best ways to do this in the accounting department is to leverage technology – and for restaurant accountants that means restaurant specific accounting software.
The right accounting software can automate (or all together eliminate) many of the tasks that are done manually today. Here is a quick hit list of questions you might ask yourself to help quantify the value of having restaurant accounting software as opposed to generic accounting software:
- How many hours does it take to create a statement of cash flow?
- How many days after the last day of the week do I send out the weekly prime cost reports to managers?
- How many days/weeks after the end of the period do I close my books?
- How long does it take me to reconcile each of my bank accounts each period?
- How long does it take me to enter all stock count journal entry adjustments?
This list can go on and on. All things that are automated these days with solutions like Restaurant365 (www.restaurant365.net).
Time to get home from Hawaii and get cracking on ways to free up your time today.
Morgan Harris | Co founder | Restaurant365