A whopping sixty percent of restaurants fail in the first year. This is due in a large part to bad restaurant accounting practices. Of course, the number one reason for failure is a bad location, however that is followed by lack of strong financial systems. Having an experienced CPA could make or break your business. Here are ways that GMG can help:
- Creating financial projections for your business plan.
- Accounting Systems Set Up
- Creating a tax plan for your business.
- Budgeting and cash flow.
- Profit and Loss Statements.
Selecting the right restaurant accountant can be the most important decision you make in securing the success of your new restaurant or maintaining the growth and success of your current establishment.