Restaurant Accounting Services
The restaurant and hospitality industry seek out ways to reduce their financial outlay and boost business efficiency without compromising quality or customer experience, especially in today's fiercely challenging environment. As a restaurant or perhaps a franchise owner, managing staff, handling vendors, making your customers happy, and setting aside the time required to ensure your books are in proper order, could very well be overwhelming.
Cogneesol offers first-class restaurant accounting & bookkeeping services. Our team understands what precisely you require to keep your business functioning financially. We are experts in finance and accounting, offering pre-occupied restaurant owners with solutions to not just make it through in such a competitive environment, but thrive!
Our Restaurant Accounting Services
- Setting up Chart of Accounts
- Inputting Bank Details
- Allocating the entries
- Value Added Bookkeeping
- Month-end or Year-end closing
Accounts Payable Services
- Invoice approval
- Expense allocation
- Invoice imaging
- Online payment approval
- Check processing
- Handling of vendor inquiries
- 1099 reporting
Accounts Receivable Services
- Order management
- Customer billing
- Customer aging
- Collections management
- Cash forecasting & reporting
Bank Reconciliation Services
- Bank statements reconciliation when your organization manages records
- Credit card reconciliation with your bank records
- Full reconciliation services
- Matching of invoice with your ledger as well as journal entries
- Gift card/certificate reconciliation
- Partial reconciliation services
- Sequencing of checks
Financial Reporting Services
- Balance sheet
- Income statement
- Cash flow statement
- Bank reconciliation report
- Detail general ledger report
- Fixed asset account management
- Payroll setup
- Payday calculations and direct deposits
- Payroll taxes calculation and form-filling
We Support Multiple Accounting Software
With expertise in every accounting software and platform, our team of highly skilled professionals offer fast learning curves and swift implementation of solutions.
Our Key Differentiators
We can help you get time to focus on business strategy, customer support, core operations, and increasing ROI by handling your accounting functions.
You are most likely to earn overall financial benefits of up to 65% with our customizable restaurant accounting and bookkeeping solutions.
Best Accounting Practices
We follow industry-standard accounting practices & processes to help you obtain greater control & accountability and remain in compliance with regulations.
We have skilled restaurant accountants that are experts in using the latest technology for accounting purposes and can provide you with real-time financial reporting.
Customizable Service Packs
Our accounting outsourcing service packages can easily accommodate to the transforming economic, accounting, and data entry requirements of your restaurant business.
Round the Clock Support
With round the clock availability of our skilled and experienced accountants at your service, we ensure accounting issues of your restaurant get rectified as soon as they arise.
Who We Serve
Food and Beverages
Travel and Tourism
Art and Culture
Event Management Agencies
Our Restaurant Accounting Process
Cogneesol offers first-class restaurant accounting and bookkeeping services. Our standard of combined expertise, know-how & capacity continues to be unparalleled in the market.
We Receive Your Information
- Inventory Count
- Payroll Reports
- POS Reports
- Bank Statements
We Take Care of Your
- Accounting System Setup
- General Ledger Maintenance
- Bank Reconciliations
- Profit and Loss Statements
- Balance Sheet
- Vendor Payments
- Budget and Forecasts
- Point-of-Sale (POS) Reporting
- Cash Flow Monitoring
What You Get
- Profit and Loss "If' Analysis
- Ideal Target Percentages
- Monthly Comparisons
- Labor, Food, Beverage, Paper%Report
Restaurants that have taken advantage of our outsourcing services enjoy a variety of benefits, one being that their finances are invariably in order, easily accessible, and accurate all the time.
We help our clients navigate from where they are to where they aspire to be through our always-on learning agenda in the form of client stories and blogs covering the latest industry trends.
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It is always a pleasure to learn that the work we do has positively impacted our clients and that they are happy to share their experiences.
Cogneesol has completely refined my inventory accounting and has improved my cash flow! Very streamlined now, my books offer me real-time views of stock. I am now working out ways to negotiate better deals with my suppliers. My kitchen team manage products and their expiries better. All-in-all, a huge gamechanger!
My restaurant sees heavy footfall during peak office hours. I needed a good accountant who could compute my stock turnover ratio, overheads ratio, prime costs and offer guidance on menu charges. Cogneesol gave me a dedicated accountant who gives me these numbers on a weekly basis. Costing has become so much simpler!
Our restaurant needed an expert accountant who would also manage tax filings. Cogneesol came in with expertise on both, streamlined accounts payable, payroll, inventory and cash management, sales and reconciliations. Our books are now structured and up to date at all times. The team is dedicated and dependable, keeping us compliant at all times.