John Nessel

As all restaurant veterans already know, this is a business that is very unforgiving when it comes to achieving bottom line profits. John takes a look at ten "Red Flags" or indicators that point to where current problems may lie and where future problems are likely to emerge.

QuickBooks is inexpensive, powerful enough to handle every financial task that you will face, exceptionally easy to use, well known to your accountant.  John sings the praises of Quickbooks and gives a full overview of how and why to get started.

John takes a look at controlling food costs through menu engineering -- the process of selecting, costing, pricing and evaluating your menu items. 

John explains the importance of taking accurate and timely physical counts of your food and beverage inventories and shows you how to make a series of simple accounting entries to insure accurate food and beverage cost reporting for your critical Profit and Loss Statements.

By taking the concept of accrual into account, you can produce a monthly Profit and Loss Statement that is infinitely more accurate, especially as it relates to your payroll costs.

As if the restaurant business was not hard enough, complying with IRS tip reporting rules is one of the most critical and important tasks facing restaurant owners! This is truer today than a decade ago as the IRS is accelerating its efforts to capture previously lost revenue in the form of income and FICA (Social Security & Medicare) tax. As a restaurant owner you should therefore be aware of your responsibilities regarding the reporting of your employee’s tips.  The bottom line is this...