Restaurant Accounting & Advisory Services
Today’s restaurant industry continues to be fiercely competitive. Rising labor costs, supply issues, and third-party delivery services are just a few of the new realities that have a big impact on your bottom line, whether you operate a single-location startup or an established local chain. Add to that challenges like complex tax requirements, and it can be daunting to manage your day-to-day business — let alone plan for the future.
At CJBS, our team is here to help, offering more than 30 years of experience in restaurant accounting, taxes, payroll, and advisory services. We collaborate with our restaurant clients year-round to help you gain a better understanding of your finances and provide the advice and analysis that helps you plan everything from next month’s menu to next year’s budget.
Restaurant Accounting & Advisory Services
Accounting & POS Software
Our team deals with all communication with the IRS on your behalf, including any tax issuesFrom processing payroll to tracking vendor invoices, restaurant accounting can get tricky fast — especially when you’d prefer to focus on tonight’s special. CJBS finds the right restaurant accounting and bookkeeping software solution for you, so your business can become more automated and efficient financially. We’ll also help you find the best rates for credit card machines (because cash is no longer king when it comes to dining out).overseas. This includes handling IRS audits and inquiries, as well as any issues regarding taxes from previous years.
Business Plans & Projections
If you’re a startup and need to develop a business plan for a loan, the CJBS restaurant accounting and advisory team is here to help. We also help established restaurants with business plans and projections when they decide it’s time to expand or sell.
Financial Statement Analysis
Is that new entrée selling out every night but not translating into higher revenue? Is it the right time to open your latest franchise? From digging into profit margins on individual menu items to tracking your cash flow over time, our restaurant accounting and advisory team closely analyzes your financial data, then customizes recommendations to grow your business based on our insights and your goals.
Lease Structure & Negotiations
Looking to open your first restaurant or expand to a new location? In either case, it’s essential to understand the implications of your lease. Our experienced team will help you structure and negotiate your lease from a financial perspective and advise you on whether a shorter or longer lease makes the most sense for your business.
State & Local Sales Tax Services
State and local sales tax requirements vary widely from area to area, causing plenty of confusion for busy restaurant owners. The CJBS team has a thorough understanding of all tax compliance issues and will ensure that you’re paying all the taxes you owe — and help you avoid common pitfalls and potential penalties.
Why CJBS?
Having timely financial information — and knowing how to use it — is essential for any restaurant operator. At CJBS, our restaurant accounting and advisory team not only provides you with all the tools you need to streamline your day-to-day business, including payroll and bookkeeping software and guidance on specialized tax requirements. We also work as your business partner on big-picture challenges, reviewing your finances with you on a quarterly basis to share the insights and recommendations that make you as profitable as possible, today and in the future.
Your Restaurant Accounting Expert
Lori Johnson-Engelman is a senior partner at CJBS with more than 20 years of experience in the restaurant industry. Taking a hands-on approach with her clients — including franchisers, franchisees, and single- and multiple-location businesses — she helps them thrive in an increasingly competitive space.
General Restaurant FAQs
What kind of restaurant POS system should I use?
We have clients who use multiple types of POS systems, and we regularly get feedback on what’s working for them and what’s not. Based on your restaurant’s specific needs, we’ll help you decide which POS is right for you, so you can efficiently handle everything from taking customers’ orders to managing your food inventory.
How do you track cash tips for reporting purposes?
In restaurant accounting, it’s important to accurately track cash tips to ensure your employees’ base pay plus tips add up to minimum wage and to avoid IRS penalties, among other risks. CJBS can help you explore time clock options that capture tips and other items in the most efficient way.
As a small business owner, can I accept cash only at my restaurant?
Yes, a small business owner can choose to only accept cash. The main benefit to cash only is the savings a business will have from eliminating credit card transaction fees that can be significant. However, with so many consumers using credit cards and carrying less cash it may be the reason a restaurant loses a sale. In addition having a significant amount of cash on hand could also increase the possibility of employee theft.
Restaurant News & Updates
Stay current on the latest Restaurant industry developments and find out what it means for you and your business.
