The first thing we reviewed in detail was the financial statements. They were produced by a bookkeeping service that was inexpensive and inaccurate. We reformatted the numbers so the owners could read, understand, and calculate basic costs associated with the restaurant business. Once the financials were reformatted we compared their numbers to local and national Read the full article…
Los Angeles, CA Co-owners Bryce Rademan and Robert Wickland, classmates from Occidental College, operate two restaurants with the third one in development. The named the restaurant Spitz to highlight the slow roasting of minced roast beef and lamb pressed together and cooked on a vertical spit and sliced off to order. This Mediterranean dish is Read the full article…
Honan, an author at Gizmodo.com, recently wrote an article (‘I Flunked My Social Media Background Check. Will You?”) about a new company that helps employers search applicant’s “internet background” to assist in the hiring process. As Mat rightly points out, much of the concern over this “new technology” is overblown, and as he puts it, Read the full article…
From the time an invoice shows up at your restaurant until it shows up on your profit and loss statement, it travels through every significant control system you have- or don’t have! Your account number with the vendor- what are your terms? Have they been updated after doing business with them for six months? Did Read the full article…
Most restaurateurs know about the Federal Tip Credit also known as the FICA credit. Restaurant owners can claim a credit on their federal income tax return for the amount of federal payroll tax, i.e. the FICA tax they paid on employee’s tips that are reported on the employees’ Form W-2. Up until 2007, the credit Read the full article…
