What separates a successful business from a failing one? I get this question all the time from aspiring entrepreneurs and business owners that are working diligently to get to the next level. The answer is extremely simple – systems. A successful business needs systems for on-boarding staff, allocating marketing spend, launching new products and most […]
How to Record Cost of Goods Sold with Shopify (In Quickbooks or Other Accounting Software)
We have previously discussed the numerous ways to record Shopify sales, showcased here. What these blogs have not gone into much detail about was the recording of your Cost of Goods. This can be complicated or easy depending on your products and your accounting for inventory. The following post will show you a quick way […]
An Example of a Restaurant’s Daily Report
A daily report is one of the key aspects to a successful restaurant business. For one simple reason – successful days turn into successful weeks, which turn into successful months and quarters. By focusing on single days, labor management and driving sales – small mom and pop restaurants as well as corporate restaurant chains can […]
What you are Doing Wrong in QuickBooks Online
Accounting softwares are great, particularly QuickBooks Online. The ease of use and ability to access from multiple devices anywhere in the world is fantastic. Though often times I see clients and small business owners not using QuickBooks Online to its full potential, resulting in poor books and records alongside plenty of unnecessary headaches to get […]
A Sample Restaurant Chart of Accounts that any Business Owner, Bookkeeper or Accountant Can Use
For those of you who know anything about the restaurant industry, you understand “Mise En Place” – a French culinary phrase which means “putting in place” or “everything in its place.” A proper Chart of Accounts functions the same way as an organized restaurant station. Everything has its proper place, everything is conveniently located and […]