Overview
This is a detailed, step-by-step, restaurant-specific guide to Intuit QuickBooks, the most popular small business accounting software in the world. It includes customized, ready-to-use QuickBooks company files to get you up and running right away!
- Includes a "ready to use" QuickBooks company file for restaurant operations. The files utilize the Uniform System of Accounts for Restaurants format along with numerous customized features, entry screens and memorized transactions and reports, all designed to get you "up and running" quickly and accurately!
- The guide also includes operating ratios from the Restaurant Industry Operations Report to help you compare your operation against industry standards.
This product is downloadable for immediate free delivery.
This e-book is written exclusively for restaurant operators in a jargon-free and easy-to-understand style. The author, John Nessel, a twenty-five year veteran of the restaurant business and currently a restaurant consultant, is a Certified QuickBooks Advisor and has been using QuickBooks since 1994.
Ready-to-use QuickBooks company files are included for both full- service and quick-service restaurant operations. Each file utilizes the Uniform System of Accounts for Restaurants format along with numerous customized features, entry screens, memorized transactions and reports, all designed to get you up and running quickly and accurately!
"John's approach to QuickBooks is streamlined and to the point, and his ability to write a software/accounting guide that is down-to-earth and informative is cleverly entertaining. Yes, I said entertaining...It's obvious he has done his homework! Grazia!" - David Militello, Tello's Trattoria, South Haven, MI
Download Delivery
Download Delivery: You will receive download instructions by email immediately (with your approved credit card purchase) for an Adobe Acrobat PDF file of this product.
Table of Contents
INTRODUCTION
Welcome
Why QuickBooks?
A Note About Different
Versions of QuickBooks
Are You a New or Current User?
The Enclosed Ready to Use QuickBooks File
How the Book is Organized
GETTING STARTED
Chapter 1 - A Restaurant
Accounting Primer
The Purpose of Accounting
The Chart of
Accounts
The General Ledger
Financial Reports
The Balance
Sheet
The Profit & Loss Statement
Accounts Payable
(A/P)
Accounts Receivable (A/R)
Cash versus Accrual
Accounting
Double Entry Accounting
Debits and Credits
Sample Restaurant Transactions
Chapter 2 - Restaurant Accounting Periods
What are Your Options?
Why You Might Consider Using Four-Week Accounting Periods
Why Don't All Restaurants Use Four-Week Periods?
What Changes are Required to Convert to Four-Week Periods?
Final Thoughts on Accounting Periods
Chapter 3 - Create Your Restaurant Company File
QuickBooks Company File Formats
Restore the Backup File Included with this Book
Chapter 4 - A Tour of
Important QuickBooks Features
The QuickBooks Desktop
QuickBooks Task
Windows
QuickBooks Lists
QuickBooks Reports
Chapter 5 - Setting Up Your
New Company File
Choosing Your Preferences
Input Your Basic
Company Information
Your Chart of Accounts
Your Item List
Setup Your Vendor List
Your Customer List
Other Names List
A Note About the Employee
List
Chapter 6 - Choose a Start
Date
New Restaurants
Existing Restaurants
Information You Need for Jan 1
Start Dates
Additional Info Needed for Mid Year Start Dates
Chapter 7 - Entering Your
Beginning Balances
Entering the Balance Sheet Account Balances
Enter Unpaid Bills (A/P) as of the Start Date
Enter Uncollected Invoices
(A/R) as of
the Start Date
Enter Every Transactions Since the Start Date
Enter
Year-to-Date Income and Expense Summary
BASIC BOOKKEEPING TASKS
Chapter 8 - Paying Your
Bills
Brief Overview
The Enter Bills/Pay Bills Method (A/P)
The Write Checks
Method
Organize Your Bill Filing System
Chapter 9 - Record Your
Daily Sales & Deposits
Restaurants are Different!
The Restaurant Sales Equation
Why is
the Restaurant Sales Equation So Important?
The General
Ledger Accounts You Need
How to Record Your Daily Sales &
Deposits in QuickBooks
Chapter 10 - Using Invoices &
Sales Receipts for Individual Customer Transactions
Create an Invoice...An
Overview
Controlling
the Sales Tax on Your Invoices
Receive a Customer Deposit
Receive the Customer Payment
The Undeposited Funds Account
Chapter 11 - All About
Payroll
Payroll Recommendations
Why to Avoid QuickBooks Payroll Service Options
Outside Payroll Services
How Payroll Services Handle
Payroll Tax
Use Your Checks or Theirs?
Professional Employer Organizations (PEO's)
Create
Detailed Wage Accounts to Better Manage Your Labor Expenses
The Payroll Equation
Use the QuickBooks General Journal to Record Payroll Entries
Actual Payroll Entries, A Few Samples
Using the Write Checks Window to Record Payroll
Options for Dealing with Charged Tips
Should You Use a
Separate Payroll Account?
Payroll Frequency
SPECIALIZED BOOKKEEPING TASKS
Chapter 12 - End of Month
Inventory Adjustments
The Importance of Taking Inventory
Defining Food & Beverage Costs
Segregating Food & Beverage Costs
by Category
How to Make the Inventory Adjustment in QuickBooks
What if You Have Not Tracked Inventory in the Past?
Chapter 13 - Other Cash
Accounts You Need
The Petty Cash Account
The Cash Drawer
Account
The Cash in Safe Account
The Tip Float Account
Chapter 14 - Using Prepaid
Accounts
What is a Prepaid Account?
A Detailed
Example
Use Prepaid Accounts with Four Week Accounting Periods
Chapter 15 - Pay the Sales
Tax You Collect
How to Find Out How Much Sales Tax You
Owe
The QuickBooks Pay Sales Tax Feature
Use a General Ledger Report to Find Out How Much Sales Tax You Owe
Chapter 16 - Reconcile Your
Checking Account
Clear Your Checks First
Clear Your Other
Payments Next
Clear Your Bank Deposits & Credit Card Receipts
Un-Matched Amounts
Use the Find Feature
Finish the Process
If Your Beginning Balance Does Not Match the Statement
What if You Can't
Reconcile the Statement
Your Last Resort
Chapter 17 - Misc. Tasks and
Adjustments
Deleting versus Voiding a Transaction
Finding a
Transaction
Recording Depreciations of Fixed Assets
Issuing 1099’s
to Vendors
How to Deal with Bounced Checks
Tracking Your ATM and
Debit Card Expenses
Trading Meals for Outside Services
Credit Card
Purchases
Customer Credit Card Charge Backs
Recording Loans and
Making Loan
Payments
The QuickBooks Loan Manager
How to Deal with Direct Loans from Marketing or Promotional
Programs
Account for Employee Meals
Use Memorized
Transactions for Recurring Bills, Checks and Journal Entries
Using QuickBooks
to Create a Budget
CREATING QUICKBOOKS
REPORTS
Chapter 18 - Vendor and
Accounts Payable Reports
The Vendor Reports
The Account
Payable Reports
Chapter 19 - Basic Financial
Reports
The Balance Sheet Report
The Profit and Loss (P &
L) Statement
Statement of Cash Flows
MANAGING YOUR QUICKBOOKS
FILE
File Back Up
Procedures
How to Perform the Back Up
Restore Your Back Up
File
Clean Up Your Data File
APPENDICES
A. Sample Restaurant
Chart of Accounts
B. Sample Restaurant Financial Reports
C.
Information from the Restaurant Industry Operations Report
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