Daily Sales & Invoicing
Sep 27, 2020
While few owners start their own restaurants because they’re fond of paperwork, recording your day-to-day sales, purchases and other transactions is a must.
Of course, we all know that sales are everything. To track sales to see how your business performs month over month, year over year, day over day.
Sales are one of the vital performance metrics for your restaurant, so getting sales right is one of the most important facets of your accounting operation.
Like all businesses, the overall success and health are driven and maintained by what happens behind the scene. I know from personal experience that a restaurant can have 5-star meals, a wonderful staff of waiters and hostesses, and the best oceanfront location but if the owner does not have good numbers, then the restaurant will not continue or succeed.
At first, it may seem so complex to track sales but once you create a system and a good understanding, then it is not as overwhelming as you may think.
I really recommend entering the sales as Journal Entries in QuickBooks Online as you can then record for all payment types and transactions in that entry. Sales are recorded under the accrual accounting method.
In the next blog post, we will discuss more about the Daily Sales Method and how to convert all the great data your POS tracks and convert it into the language of accounting!
If you would like help setting up your QuickBooks file, or would like us to manage your books, reach out to us and schedule a free 15-minute call to see if we would be a good fit
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!
