What Is Restaurant Accounting? | Top Terms and Defintions | Global Shared Services
Restaurant accounting is an integral part of running a profitable restaurant business. After all, any business that doesn’t run accounting properly won’t be a proper business for very long. That said, while accounting is an essential business function, that doesn’t mean it’s a simple one. Actually, in application, it can be fairly complex. In most states, […]
The Top Restaurant Accounting Software Solutions
Searching for a restaurant accounting software solution can feel overwhelming. There are many options out there. How can you choose the right one for you? We’re here to help. At Global Shared Services, we’ve worked with hundreds of restaurant businesses and used a variety of accounting software solutions. If you want consulting on which restaurant accounting software is […]
Your Guide to McDonald’s Outsourced Accounting | Global Shared Services
McDonald’s food may be simple, fast, and efficient, but the franchise accounting required to run a unit successfully is anything but that. There are payroll, benefits, vacation, new hires, raises, inventory, etc. to consider. You have big choices to make, including buying and selling units, merging with various businesses, and negotiating new leases or startup fees. As a […]
Should I Outsource Fixed Asset Accounting for My Restaurant Business? | Global Shared Services
Fixed asset accounting is both laborious and very important. That’s true for nearly any business, and it’s certainly true for restaurants, too. Fixed assets represent important data points in your business’ financial picture. Failing to understand their value can lead to poor decisions – or even to a lack of tax compliance and resulting fines. […]
The Top Mistakes in Restaurant365 Implementation | Global Shared Services
No matter how great a tool is, it’s only valuable if it’s set up and used well. In other words, buying a high-end guitar doesn’t make you a rock star. Similarly, Restaurant365 is the leading back office solution for restaurants, but that doesn’t mean that empowering your restaurant business is as simple as purchasing the […]
Three Accounting Mistakes That Could Destroy Your Franchise Restaurant | Global Shared Services
Most franchise restaurant owners take pride in their business—and they should. Franchise restaurants can be difficult to run due to thin margins and issues like rising labor costs. Successfully managing these units takes skill and dedication. What most proprietors don’t realize is that they could be sabotaging their own business if they chose to hire a low-budget and […]
Domino’s Franchise Options: Internal Bookkeeper vs. Outsourced Accounting | Global Shared Services
As the owner of a Domino’s franchise restaurant, you have a lot on your plate. There’s the ongoing feud with the other local pizza shop owner, your hopes to acquire two more units in the next year, not to mention the day-to-day running of your current units. You’re busy enough supplying your community with some of the […]
Is Restaurant365 Right for Me? | Global Shared Services
There’s a good deal of excitement in the restaurant market around the Restaurant365 solution. Positioned as the most comprehensive back office software for restaurants, it’s generated a considerable amount of press – from coverage in Restaurant News to startup journals like Built in LA. With the hype, though, comes an accompanying level of obscurity. The idea of an […]
Challenges to Accounting for Enterprise Franchise Restaurant Businesses | Global Shared Services
For franchise restaurant businesses to succeed, it’s imperative to develop efficiency in processes. There is no 150+ location business that hasn’t streamlined its systems toward that end. Growth in the franchise model demands it. While economies of scale may not be easy to find in the franchise model, the processes are replicable; once margin is established, […]
What to Look for in a Great Outsourced Accountant for your Tech Company | Global Shared Services
When you’re looking for an outsourced accountant, it can be hard to know where to start. What makes one accountant better than another? How do you compare quality and your budget? What decisions can you make to get the most bang for your buck? Every outsourced accountant is different. Sometimes it’s just one person who […]