If you are a restaurateur, you understand the importance of accounting for tips for your servers. For employers and servers, it’s a way to have the servers get paid. Accounting for tips is important for IRS and state tax authorities since it is a source of tax revenue. Under the IRS rules, an employee is… Read More

When visualizing a successful restaurant, most owners think about good service and even better food. However, proper accounting is key to running a successful, profitable restaurant. While many aspects of accounting are similar to other businesses, there are essential elements that are different. The cost-to-sales ratio, prime costs, inventory management, and accounting periods are imperative… Read More