In such a fast-moving industry, restaurants need every advantage to succeed.
At Cornwell Jackson, we understand that the day-to-day operations of running a restaurant can demand a large amount of the business owner’s time. That’s why we’ve combined traditional accounting services with the latest industry-specific technology. Our clients are provided top tier accounting and business advisory expertise that knows the restaurant industry, as well as the tools and software needed to spot and take advantage of business opportunities.
Your virtual accounting team integrates fully with our tax services, consulting and advisory services, and cloud-based platforms – providing a comprehensive solution for your restaurant’s accounting and financial needs.
Based on the unique needs of your business, we assign a dedicated team of bookkeepers, accountants and a controller to your business. Your accounting services team will be dedicated to YOUR business – you’ll work with the same team each week. As part of our bookkeeping process, our experts will evaluate your current accounting system and set up the appropriate accounting software platform on our secure servers. We will automate and integrate your other financial systems including, banking and credit cards, and develop a process and procedures manual defining every task to be performed.
Cornwell Jackson provides a comprehensive approach to Restaurant Back Office Accounting Services.
We take care of the books so you can do what’s best: Grow your business.
- Managing vendor invoices
- Accounts Payable reporting
- Cash flow reconciliation and reporting
- Prime cost (cost of goods sold) reporting
- Credit card and transaction coding
- Financial statements and custom dashboard reporting
- Reconcile revenue transactions from POS to financial statements
- Reconcile cash monthly
- Reconcile receiving documents with vendors invoices
- Enter other vendor invoices and payments according to terms
- Process vendor payments
- Record any required accruals
- Tracking and adjust cost of goods sold and inventory
- Maintain GAAP and tax depreciation
- Reconcile debt schedules
- Record payroll activities from 3rd party payroll company
- Produce location and consolidated financial statements, including the holding company
- Reconcile intercompany
- Maintain investor equity accounts
- Work with management to develop dashboard reporting
View a full list of outsourced accounting solution services available from Cornwell Jackson Business Services.
Technology for Fast-Growing Restaurants
Using the latest cloud-based technologies gives Cornwell Jackson clients an integrated and fully featured online platform with real-time reporting, providing timely financial reporting.
We’ve customized our services and software to accommodate the following types of restaurant businesses:
- Emerging and experienced single-location restaurants
- Multi-location restaurants
- Small restaurants, including cafés and food trucks
Whether your business is an established chain adding new locations, a new restaurant seeking to grow effectively and sustainably, or something in between, we provide the tools and expertise to help you meet your goals. Contact us today to see how we can help grow your business.
Improving restaurant efficiency can become an ongoing part of your point of sale and accounting systems, allowing you to make continuous improvements. This can help owners and managers exceed industry benchmarks, free up focus for customers and growth, and create an easier path to sell when it’s time.
Mitigating the risk of loss in restaurants through theft is an ongoing challenge. Automation has improved security in transactions as well as back-office functions. But with top concerns in the restaurant industry being wholesale food costs and building and maintaining sales volume, the reduction of theft can improve those concerns for restaurateurs.
It’s midnight. You’re struggling with a decision about a major expansion that could transform your small business into a powerhouse — or bankrupt it, if your plans don’t work out as you’re hoping. Or you’ve spent hours trying to pull together some financial information that your banker has requested, time that would have been much better spent running your business. Who can you turn to for feedback or technical advice in situations like these? The answer: Your CPA.
Mitigating the risk of loss in restaurants through theft is an ongoing challenge. Automation has improved security in transactions as well as back-office functions. But with top concerns in the restaurant industry being wholesale food costs and building and maintaining sales volume, the reduction of theft can improve those concerns for restauranteurs. We review the … Continue reading Protect Your Restaurant from Employee Embezzlement
In regards to restaurant theft of food or supplies, at your POS, in accounting processes, or of intellectual property, mitigating the risk of loss through theft is an ongoing challenge. Automation has improved security in transactions as well as back-office functions. But with top concerns in the restaurant industry being wholesale food costs and building … Continue reading The Most Common Types of Restaurant Theft
“They know our business. I trust them, I can sleep well at night knowing that from an accounting perspective we’re not going to have any problems. I honestly believe they are genuinely happy that we’re successful and they’re working to help make sure that happens.”
Jim Schwab, CrimStone Partners