QuickBooks for the Restaurant

Discover how QuickBooks® can help a restaurant succeed

If you′re a current or aspiring food–service professional,accounting probably wasn′t one of the things that attracted you tothe field. Yet without proper bookkeeping and financial reporting,it′s very difficult for any restaurant, bar, catering operation, orother hospitality business to succeed.

This book shows how you can use QuickBooks, the leadingsmall–business accounting software, to automate financialreporting, control costs, and maximize profits in any food orbeverage business. Using the operations of a fictional "AromaRistorante," it walks you through QuickBooks features and functionsstep by step, explains accounting fundamentals, and demonstrateshow QuickBooks can help you solve the real–world challenges ofrunning a food service business.

Every chapter offers review problems to help you practice theskills you′ve learned and build critical thinking abilities

Data files on the companion CD–ROM simulate restaurant scenariosand help you hone your QuickBooks expertise and financialmanagement proficiency

A comprehensive project at the end of the book helps you pulltogether everything you′ve learned as you analyze data and makebusiness decisions

Throughout, QuickBooks Tips and Accounting Tips explain how towork smarter, and Industry Interviews offer real–world tricks ofthe trade

A companion Web site provides updated data files and coverage ofthe latest QuickBooks versions

The first and only guide to QuickBooks and accountingfundamentals written specifically for the hospitality industry,QuickBooks for the Restaurant offers solid, step–by–stepinstruction, restaurant–specific examples, and coverage of industryissues, such as integration with point–of–sale systems. Withspecial emphasis on the decision–making skills necessary to becomea successful manager in the restaurant industry, QuickBooks for theRestaurant is an invaluable resource for culinary arts students andfood service professionals everywhere.

Chapter 1: Introduction.

About This Book.

Overview of QuickBooks Software.

Importance of the Accounting Process to the RestaurantManager.

Obtaining QuickBooks Help.

Aroma Ristorante s Operating Processes and Activities.

Chapter 2: Setting Up Your Restaurant in QuickBooks.

EasyStep Interview Creating a New Company File.

Backing Up and Restoring QuickBooks Files.

Establishing Company Preferences.

Setting Up an Additional Bank Account.

Recording Opening Balances.

Setting Up QuickBooks to Manually Accept Payroll.

Chapter 3: Working with Lists.

Using Lists.

Using the Chart of Accounts.

Creating and Editing Accounts.

Deleting Accounts.

Making an Account Inactive.

Creating a Vendor from the Vendor Center.

Creating a Customer from the Customer Center.

Creating an Item.

Editing and Deleting a Vendor, Customer, and Item.

Identifying the Role of Classes.

Preparing Lists.

Chapter Review Problems.

Chapter 4: Restaurant Purchases, Payables, andInventory.

The Purchasing Process.

Working with Purchase Orders.

Receiving Goods.

Entering Bills.

Editing Bills.

Voiding and Deleting Bills.

Memorizing Bills.

Paying Bills.

Using Vendor Discounts.

Using Vendor Credits.

Using the Check Register.

Creating and Printing Checks.

Editing, Voiding, and Deleting Checks.

Inventory Stock Status (Inventory on Hand) and Par Levels.

Physical Inventory Worksheets.

Making Inventory Adjustments.

Other Inventory Management Systems.

Reports.

Chapter Review Problems.

Chapter 5: Sales and Receivables.

Recording Sales and Receivables.

Point–of–Sale Systems Interfaces.

Recording Restaurant Sales from a Point–of–Sale System.

Creating Customer Invoices.

Editing Customer Invoices.

Voiding and Deleting Customer Invoices.

Printing Customer Invoices.

Recording Customer Payments.

Recording Credit Memos.

Creating Customer Estimates.

Recording Advance Deposits.

Reports.

Chapter Review Problems.

Chapter 6: Payroll.

Payroll and the Restaurant Industry.

QuickBooks Payroll Options.

Creating a New Employee Record.

Editing an Employee Record.

Creating Employee Paychecks.

Editing, Voiding, and Deleting Paychecks.

Releasing Employees and Inactivating Employee Records.

Outsourcing Payroll.

Reports.

Chapter Review Problems.

Chapter 7: Adjusting Journal Entries.

Identifying the Steps of the Accounting Cycle.

Preparing a Journal.

Preparing a General Ledger.

Preparing a Trial Balance.

Recording Adjusting Journal Entries.

Chapter Review Problems.

Chapter 8: Financial Reporting and Analysis.

Financial Statements.

Preparing the Profi t & Loss Statement.

Preparing the Balance Sheet.

Preparing the Statement of Cash Flows.

Preparing the Cash Flow Forecast.

Chapter Review Problems.

Chapter 9: Budgeting.

Preparing an Operating Budget.

Reports.

Chapter Review Problems.

Chapter 10: Year–End Procedures and Reporting.

Payroll Tax Forms.

Form 941: Employer s Quarterly Federal Tax Return.

Form 940: Employer s Annual Federal Unemployment (FUTA)Tax Return.

Form W–2: Wage and Tax Statement and Form W–3 Transmittal ofWage and Tax Statements.

Form 1099 MISC: Miscellaneous Income and Form 1096: AnnualSummary and Transmittal of US Information Return.

The Closing Process.

Chapter Review Problems.

Chapter 11: Other Restaurant Functions.

Managing Fixed Assets.

Recording the Stock Issuance.

Recording the Dividend Distribution.

Establishing a Petty Cash Fund.

Writing Off Accounts Receivable.

Recording Gift Certifi cate (Gift Card) Transactions.

Recording Sales Tax Payments.

Preparing the Bank Reconciliation.

Chapter Review Problems.

Chapter 12: Comprehensive Project.

Comprehensive Project Objectives.

Option A.

Option B.

Reports.

Chapter Review Problems.

Glossary.

Index.

Stephanie Murphy, CPA, and ALISA R. NEUNEKER are both Assistant Professors of Business Management at The Culinary Institute of America in Hyde Park, New York.