Online Accounting and Bookkeeping Services

Wednesday, 27 January 2021

The most critical success factors for restaurant business business

As stated by the MAC, a business accounting intelligence agency, there are 5 fundamental success factors specific to restaurant industry. If you succeed in those 5 factors you are guaranteed to have a very successful restaurant. Restaurant Accounting Services helps you in manage your Resturennt financial.

Top 5 Restaurant Business success Factors

Access to niche markets

You don’t want to be a jack of all trades, or offer food that is already offered by the majority of restaurants in your area. Pick a distinct and unusual cuisine, and corner the market on that product, and cultural experience. Research is a critical success factor here for your niche choice, and it is vital to check what is currently trending. Always look outside your area for this – You live in a small city? Check what is trending in the nearest big city. You live in a big city? Check what is trending in the big cities of USA. It’s only a matter of time before people in your area will want to join those already sampling new flavours from the different cultures of the world.

Effective cost controls

Make sure each portion you serve is of the same size. Also, make sure that every item in your menu is costed and updated on a regular basis. At MAC we help our customers cost their menu and set appropriate cost controls. In addition, as part of our ongoing service, we provide weekly sales reports showing sales margins, weekly menu analysis telling you which items in your menu underperform and monthly management reports showing a detailed performance of your restaurant as a whole. Thanks to those services you can easily keep an eye on your costs and be sure you keep your margins high.

There are of course more factors that you could consider in order to have a successful restaurant. However, the critical success factors for restaurant business development described above are the most important. Make sure you are focusing on them and the future of your restaurant will be bright.

The Fundamentals of restaurant business success

Today my Blog will be less “numbery” and show a bigger picture of critical success factors for restaurant owners. Below listed 5 restaurant success factors every restaurant must excel at in order to be successful. I hope it will be of value to you especially if you are just at the beginning of your restaurant adventure.

Top 5 Restaurant Business success Factors

Access to niche markets

Effective quality control

Access to multiskilled and flexible workforce

Having a loyal customer base

Effective cost controls

Top Success Factors for Restaurant Business Success

Today my Blog will be less “number” and show a bigger picture of critical success factors for restaurant owners. Below listed 5 restaurant success factors every restaurant must excel at in order to be successful. I hope it will be of value to you especially if you are just at the beginning of your restaurant adventure.

Top 5 Restaurant Business success Factors

Access to niche markets

Effective quality control

You must always strive for the best quality of service and product. Without the right systems in place it is easy to make a mistake. Remember – it only takes one bad experience to damage your reputation. How can you ensure that your service and food is of the highest quality possible? One critical success factor for restaurant quality control is the mystery shopper. Regularly have a “secret customer” come to your restaurant and report on the quality of the food and service and its consistency. Another critical success factor for restaurant quality is effective training for new staff. Job manuals are very important in every business. Not only will it ensure that tasks are performed to the same quality and effect no matter who is performing them, but it also gives you the flexibility to leave your business to others once it is set up. As a bonus, your employees will then have a reference if they are unsure on a practice or policy in the way your business is conducted.

Access to multiskilled and flexible workforce

It is already hard to find a skilled and motivated staff, something which may become even harder after COVID-19. It is good to have access to the pool of workforce at any given time to reduce the cost of hiring and reduce any interruptions to your everyday business. There are plenty of recruitment agencies that specialise in hiring for the hospitability industry. The best solution for you would be to do your own research and pick the one which focuses on factors beyond candidates past experience and their salary requirements.

Having a loyal customer base

This guarantees good cash flow management as well as plenty of word of mouth recommendations. So how can you build such a base? First you need to reach out to your potential customers. Then provide exceptional service. Finally foster your relationship with them, try to recognize returning customers, and make them feel special. The first and the last point in the process can be accomplished with the use of online marketing. Have a newsletter, facebook page and website through which you can communicate. Write blogs and let your customers know about promotions. If you are struggling with doing it yourself simply hire someone to do it for you on a part time basis. Don’t know where to start?

Effective cost controls

Tuesday, 26 January 2021

How hire quickbooks accountant for business is the smart decision ?

Are you a craftsman, a trader, a liberal or medical profession, an association, a Société Civiles Immobilière (SCI) or a non-professional Furnished Rental (LMNP)? Wondering what are the benefits of an online accountant? You are right ! Choosing the right accountant is essential in the development of an activity. To help you determine the right provider, we've selected the top 5 benefits that you won't find in a online accounting firm:

Top 5 Advantages of Hire an online accountant

1) Cost reduction

2) Save time

3) The transfer of accounting documents

4) The availability of accounting documents

5) A clear view of the financial situation

Read More: https://www.myaccountsconsultant.com/advantages-of-an-online-quickbooks-accountant-for-business/

Top benefits of hire quickbooks accountant for business

You understand, online accounting has undeniable advantages to focus on your core business. You can thus manage and pilot your business with confidence while having a clear vision of its financial health. We also recommend that you choose an online accountant registered with the Order of Chartered Accountants to ensure its quality.

Need more information about online accounting services?

Advantages of hire QuickBooks accountant for small business

Top 5 Advantages of Hire an online accountant:

1) Cost reduction:

Undoubtedly, the most important benefit of using an online accounting firm is the savings on fees. Indeed, just like banks, telecoms or any other online service, you save the costs generated by physical firms. On average over a year, you can save at least 30% on the fees of a traditional accounting firm.

2) Save time:

You no longer need to travel several kilometers to get to your local accountant. At an online accounting specialist, a dedicated expert is assigned to you. He is the one who manages and monitors your file to support you in your development. He becomes the referent to contact by phone or email as soon as you need him.

Note that a small number of online accountants, such as Team Exter, integrate the entry and allocation of your accounting documents into their offer. You will therefore not be asked to "get your hands dirty" or a financial surplus. You can thus concentrate on your activity without having to worry about administrative accounting procedures. An important point to check before signing your quote.

3) The transfer of accounting documents:

No need to send or transmit your accounting documents on paper. A private and secure online space, such as the Team Exter Box, allows you to dematerialize your items for the accountant. Some online players allow you from a smartphone application, such as Team Exter Mobile, to send your documents directly by photographing them with your mobile. A dematerialization that has a direct impact on the reduction of annual costs but also on the ecological footprint of his company.

4) The availability of accounting documents:

Dematerialization allows you to access and consult your documents online 24 hours a day, 7 days a week. You no longer have to ask your accountant to have the accounting documents you have entrusted to him. Also, if anything happens to your paper documents (theft, damage, loss, etc.) they will always be available on your dedicated online space.

5) A clear view of the financial situation:

Online accounting firms provide their clients with dashboards to view their company's financial situation in real time. This gives you a clearer and more transparent view of your spending and investments.

Need more information about online accounting services?

Sunday, 24 January 2021

You can save at least 30% on the traditional accounting fee.

And it is not surprising considering how much of the accounting market that capture by Intuit services. Intuit is the provider of QuickBooks accounting software. As of today, there were over 5.6 million QuickBooks users globally and counting, according to their latest advertisements and QuickBooks Data release into the Dec 2020.

QuickBooks Online is a great accounting software for real estate companies. QuickBooks is easy to use, learn, cost-effective, and accountant support is plentiful.

Here is the step by step guide for QuickBooks Real Estate Bookkeeping:

Book sale and purchase HUD

Book property tax payments (possibly from escrow account)

Booking refinances

Booking construction loans and keeping track of the amounts drawn and still available.

Rehab: capital improvement vs. repairs and maintenance

Mortgage checks (applying payment to escrow, principal interest etc)

Book loans- incoming and outgoing

Partnerships- contributions and draws