Accounting and QuickBooks Services for Restaurants
Trusted Minneapolis Restaurant Accounting Services
Corneliuson & Associates believes restaurant finances are a unique responsibility and that no two restaurants are alike. Some numbers, however, often translate regardless of concept. Depending on your restaurant, overall food costs should generally be between 25-30% of sales. Your labor costs should also be around the same amount. But when customers are hungry, the last thing on your mind is bill paying, taxes, payroll, bookkeeping and accounting. Get convenient and accurate accounting services for your Minnesota or western Wisconsin-based restaurant from Corneliuson.
Accounting and QuickBooks Services for Restaurants
You may not have a department dedicated to restaurant accounting services, but as tedious as they may seem, these responsibilities are a vital part of any business. From restaurant payroll services to accounting with QuickBooks, our expert accountants based in the Minneapolis area are ready to step in and help.
Accounting and QuickBooks services offered for restaurants:
- Outsourced Bookkeeping
- Accounting Services
- Tax Preparation & Planning
- Payroll & HR Services
- QuickBooks Services
Some key factors to consider in your restaurant operations:
- Rent should not exceed 5-6% of revenue (with cameras 8-10%)
- Labor costs should be around 25% of sales
- Cost of food and payroll combined shouldn’t exceed 60% of sales (restaurant will not be profitable if over 70%)
- Food costs should be about 33% and liquor costs should be about 25% per IRS audit guidelines
Trust Our Experts in Minneapolis to Provide Your Accounting Services
Through a personalized approach, we’ll find an accounting solution that works for your food and beverage establishment. Corneliuson provides detailed financial reports that you can access from anywhere at any time — as you grow your business, we will help keep things running smoothly.
Our experts have helped food and beverage establishments like yours since 1998. We can meet your needs, providing expert accounting and QuickBooks services for restaurants and other food and beverage businesses. Book your free consultation today.