Benefits of Outsourcing Accounting for Restaurants

In terms of accounting tasks, restaurants have a full plate. In addition to managing sales, tracking inventory, and monitoring cash flow, owners must also navigate complex tax regulations—all while overcoming razor-thin margins and irregular revenue patterns.

Taking on these challenges alone is not only unnecessary, but it may actually cost more in the long run. Here’s why.

Risks of Keeping Restaurant Accounting In-House

Missed Opportunities

Many restaurant owners are better at running their businesses than they are at accounting. That knowledge gap can lead to all sorts of issues, from misclassified expenses and poor cash flow to non-compliance. Without specialized knowledge, you’re not only putting your business at risk—you're likely missing growth opportunities.

Delayed Decision-Making

When business owners get overwhelmed, bookkeeping tasks often fall by the wayside. This not only forces you to play catch-up, but it also means you’re operating with outdated data. This can lead to poor inventory management, overspending, and delayed decision-making.

Scalability Issues

Restaurants have irregular revenue patterns and, often, seasonal fluctuations. These irregularities make scaling your business challenging—especially if you’re handling restaurant accounting tasks. Busy seasons may overwhelm you, causing you to fall behind on financial tasks. Slower seasons will leave you playing catch-up instead of using this time to plan for future growth.

Endless Distractions

Accounting tasks are time-consuming. Worse, they distract you from what matters most: your team and customers. Every hour spent crunching numbers and compiling reports is an hour taken away from tasks that directly grow your business.

Benefits of Outsourcing Restaurant Accounting

Deep Industry Experience

While we are equipped to serve virtually any small business, we specialize in restaurant accounting—which means we understand your industry-specific accounting challenges. That deep industry knowledge allows us to anticipate common financial roadblocks before they disrupt your business.

Less Overhead

Handing your own restaurant accounting tasks is time-consuming. Hiring an in-house team is cost-prohibitive. By outsourcing your accounting to us, you'll free up time for core responsibilities and eliminate the overhead costs of training, managing, and maintaining a full-time staff accountant.

Scalable Services

In addition to bookkeeping and accounting, our restaurant accountants also offer fractional CFO services for business owners who need more robust financial oversight. Whether you need help creating budgets, forecasting cash flow, or developing long-term financial strategies, our fractional CFOs can help.

Automated Expense Tracking

High transaction volume and multiple payment methods make restaurant accounting tricky, especially when you are manually tracking expenses. Our restaurant accountants will put your expense tracking on autopilot by setting up smart systems that automatically capture and categorize transactions. The end result? No more manual entry, less risk of errors, and more visibility into your restaurant’s expenses.

Less Distraction

The average small business owner spends 10-15 hours every month on bookkeeping tasks. That translates to 120-180 hours lost every year. By outsourcing your restaurant accounting to us, you'll reclaim this lost time, eliminate distractions, and focus your energy on running your business.

Let’s Cook Up a Better Financial Strategy

Struggling to stay on top of daily transactions? Tired of financial statements that leave you with more questions than answers? Our restaurant accounting services give you the financial clarity you need to make informed business decisions. Contact us today!