5 Steps for Restaurant Owners To Take This Year To Make The Upcoming Tax Season Easier

Tax time will be here real soon! We know how that goes for a lot of folks – running around trying to get reports together, figuring out what goes where, and getting everything in order to file or send to your accountant. Today, we are talking about…

5 Steps for Restaurant Owners To Take This Year To Make The Upcoming Tax Season Easier

Be sure to continue reading until the end if you want to be worry-free when tax season comes around. Let’s dive right into today's topic.

Start by Syncing Your Accounting Software With Your POS

Automatically pulling POS data into your restaurant management system reduces errors while saving time for your employees, managers, and bookkeeping team. In addition to the short-term efficiencies, POS integration can inform your business strategy over time through customized reporting and accessibility.

Digitize and Organize Your Receipts

In addition to improving the process, digital receipts also save time by simplifying the record-keeping process for restaurant owners. With electronic receipts, sales data can be easily organized and stored in the cloud or on a local server, granting easy access to the information when needed.

Learn About Our Bookkeeping Services

Here at The Food Bookkeeper, we make bookkeeping easy for you! When you hire a bookkeeper, you can focus on growing your company while knowing your books are accurate and up to date. We offer the following services:

Monthly Bookkeeping: For the restaurant owner who is ready to completely hand over their bookkeeping.

Catch-up Bookkeeping: For the restaurant owner who is behind on their books or needs a really good cleanup.

DIY Bookkeeping Course: For the restaurant owner who is not quite ready to hire a bookkeeper and would like to do it on their own.

I invite you to book a free 15 minute call today! We will make sure you're on the right path for a stress-free tax season.

Set up Your 3rd Party Apps Like Grubhub and Uber Eats To Run Through Your POS

If you're not using them yet, Once you consider the new customers you'll attract and the savings you'll benefit from it, it's easy to understand how a third-party service can help boost your profits. In fact, reports suggest that joining with a third-party service can increase your restaurant's sales by an average of 30%. Be mindful that most third party apps such as Uber Eats and Grubhub charge a fee. Keep that in mind and do your research to make sure it will work for your business.

At the end of the day, this is a great way to Streamline the operation and Increase your profits. Another thing to keep in mind is this: a lot of people use these software to order breakfast, lunch, dinner, and midnight snacks. I've noticed some restaurants even have a completely separate area of the restaurant dedicated to for the delivery drivers to pick up the orders, It makes for a smooth process for both the restaurant and the delivery drivers. Plus, you don’t have random people walking in and out of the restaurant.

Automate your sales tax!

As a restaurant owner, when you automate your Sales tax, it provides you with more time to focus on growing your business, eliminates the stress and worry of managing taxes, and ensures that funds are always available when the sales tax is due.

We are here to support you! Remember to book a free 15 min. Call with us. We will help you get your bookkeeping in order so that you can enjoy a stress-free tax season year after year!

BONUS:

The following tax tips will help you plan your taxes so you can save as much as is possible.

• Understand Your Deductibles and Maximize Them
• Work with your Account to Review Tax Credits
• Utilize Depreciation to Reduce Taxes
• Review Your Accounts and Books Before Filing
• Always Plan Ahead for the Upcoming Tax-Year

Do you feel ready for the upcoming tax season?

Ready to transform your restaurant's finances? Whether you need Monthly Bookkeeping, a Catch-up Bookkeeping service, or want to embark on our DIY Bookkeeping Course, we've got you covered. Have questions or need more information? Don't hesitate to reach out. Let's talk about how we can support your business. Schedule your FREE 15-Minute Call today and let's get started on your path to stress-free bookkeeping!