For all you restaurant owners, what kind of business software do you use? Looking for something nice and simple, though that may be an oxymoron. Mac is my preference but whatever works, works. thanks for any advice.
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By "business software" I assume you mean accounting software? I use Quickbooks Pro, compatible with both PC & Mac. It's a very thorough package which will handle payables, receivables, payroll, bank accounts, p&l's, balance sheets and just about any other pertinant info.
It's a bit of a learning curve but I highly recommend it as the best business software out there. I believe the software runs about $300. It integrates with MS Excell. No doubt, there's a "QB For Dummys" book to help you get started.
Hope that helps.
It's a bit of a learning curve but I highly recommend it as the best business software out there. I believe the software runs about $300. It integrates with MS Excell. No doubt, there's a "QB For Dummys" book to help you get started.
Hope that helps.
Our family has several restaurant concepts under operation. For our older restaurants, my mom uses Peachtree on a PC to do the books. I'd be surprised if they didn't offer a MAC version as well. I've also used this software personally, and found it pretty easy to master with just a basic understanding of generally accepted accounting principles. Quickbooks seems more popular these days though, and I have not used that software. I can say that the times I had problems with Peachtree, their tech support was very helpful.
A second option is to hire a bookkeeper. The firm we use charges us $500 a month per restaurant, and a reasonable fee for filing our corporate income tax return at the end of the year. $500 is very very good value to me when weighed against the amount of time I would spend each month processing payroll, paying invoices, compiling P&Ls, etc. As an added bonus, they take care of my personal return each year for free.
Another benefit of hiring an accounting firm to handle the books is that if there is ever a problem with a return, they are your first line of defense against the IRS. The IRS can make your life hell for a while, even if you are trying to play by the rules. If you file your own tax forms, any mistakes you make are completely your responsibilty, if you use an accounting firm and have a problem, at the very least you may have grounds for some sort of malpractice suit to recover your damages. This is, of course, assuming the data you provide to your accountant is true and accurate.
If you decide to pursue the accountant route, make sure you get a good one. They should be Certified (CPA), and I would talk to other local small businessmen to see who they use and recommend.
A second option is to hire a bookkeeper. The firm we use charges us $500 a month per restaurant, and a reasonable fee for filing our corporate income tax return at the end of the year. $500 is very very good value to me when weighed against the amount of time I would spend each month processing payroll, paying invoices, compiling P&Ls, etc. As an added bonus, they take care of my personal return each year for free.
Another benefit of hiring an accounting firm to handle the books is that if there is ever a problem with a return, they are your first line of defense against the IRS. The IRS can make your life hell for a while, even if you are trying to play by the rules. If you file your own tax forms, any mistakes you make are completely your responsibilty, if you use an accounting firm and have a problem, at the very least you may have grounds for some sort of malpractice suit to recover your damages. This is, of course, assuming the data you provide to your accountant is true and accurate.
If you decide to pursue the accountant route, make sure you get a good one. They should be Certified (CPA), and I would talk to other local small businessmen to see who they use and recommend.
Matt, all your points are well taken. Hiring someone to do the books can save time and resources which can be directed back to operations. I can tell you though that there are a lot of incompetant CPA's out "there". If you decide to go that route, be sure to get references and check 'em out.
One benefit from doing the books yourself, be it with Peachtree or Quickbooks...it forces you to gain a better understanding of your finances, cash-flow and fiscal well being. We do all the day-to-day stuff (cash reports, payables, payroll, receivables) in house. Our CPA does quarterly tax filings and our year-end federal & state taxes---the best of both worlds.
One benefit from doing the books yourself, be it with Peachtree or Quickbooks...it forces you to gain a better understanding of your finances, cash-flow and fiscal well being. We do all the day-to-day stuff (cash reports, payables, payroll, receivables) in house. Our CPA does quarterly tax filings and our year-end federal & state taxes---the best of both worlds.
Topchef... Good point... One benefit to having my Mom do the books at some of our operations is that she is blood hound for theft. A CPA might never catch the stuff she does. The recommendation to find a good CPA is also valid. We had a bookeeper doing our books under our CPA that got real bad. We didn't notice it right away, but she got sloppy about paying bills on time and keeping accounts up to date. Just as in the restaurant biz, apparently people in the bookkeeping biz can develop a F*ck it switch also. I define a F*ck it switch as that point where someone can work just a little harder, or say "F*ck it". Wish I had a more PG13 name for it for this forum, but I don't. If any moderators have a softer way of putting it, feel free to edit my post.
Anyway, our longtime excellent bookeeper had her F/I switch kick in, for whatever reason, and we didn't catch up with the problems for a month or so. Our new guy has gone above and beyond the call of duty, though, so that's why we're still with the firm.
Anyway, our longtime excellent bookeeper had her F/I switch kick in, for whatever reason, and we didn't catch up with the problems for a month or so. Our new guy has gone above and beyond the call of duty, though, so that's why we're still with the firm.