Most people who ever see the back of their favorite restaurants find themselves amazed by how small the non-public space is. Most restaurants rightly dedicate the largest part of their building to the area that makes money – the dining area. When you then allow appropriate room for cooking, cold and room temperature storage, luxurious business suites typically don’t make the cut.
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You probably didn’t get in the restaurant industry because you wanted a chance to show off your accounting skills, right? Whether you have a taco truck or serve fine dining, you entered the restaurant industry because you thought there would be a decent demand for the food you make. But surprise, that pesky bookkeeping goes right along with your burritos or béarnaise.
From Michelin rated, to long-time corner delis to the king of the food trucks, all restaurants need basic accounting and bookkeeping skills to keep the business profitable and the stove hot. There is a long, distinguished list of tasty but failed restaurants and many of these failures have less to do with food and more to do with finances. Here are the areas your restaurant must address to keep your business running.
Cloud-based services continue revolutionizing the restaurant industry at an incredible pace. From inventory management systems to online payroll management and fulfillment, cloud technology helps busy restaurant managers keep more information in an organized, secure environment with them everywhere they go. Never again, will the information you need be locked away in the office on a Monday night.
Restaurant management requires a variety of skills, from culinary knowledge, brand marketing, customer service and even human resource management. Managers must hold knowledge of inventory, menus, trends and schedules. And just when you think that’s more than one position can bear, add in some basic bookkeeping knowledge.