Question:
Why are financial controls important?

RESTAURANT & CATERING: Financial Controls eGuide.

Answer: You are in business to make a profit and keeping correct financial records will enable you to measure, control, evaluate and forecast your profitability, your financial needs and your financial viability.

Financial controls for a restaurant business. Learn how to understand financial controls for a restaurant business to make a profit.Get financial guide now!

When planning to start a new business or the future of an existing one, it is essential to know what restaurant financial controls will be required, where the money will come from and how you plan to spend it.

RECIPE FOR SUCCESS INGREDIENT CARD

How to Cook the Books eGuide

Question:

Why are restaurant financial controls important?

Answer:

You are in business to make a profit and keeping correct financial records will enable you to measure, control, evaluate and forecast your profitability, your financial needs and your financial viability.

Do you know…

  • how much it will cost you to set up and run the restaurant business?
  • how to work out a budget and cash flow for your first twelve months of business?
  • that the lack of money to keep the business going is a common cause of failure.  Have you worked out exactly how much money you are prepared to put into the restaurant business?
  • where to borrow money for your business?
  • what gross profit, level of expenses and net profit you can expect from your business?
  • what records do you need to keep, to maintain financial control of your business?
  • how do businesses pay tax, including provisional tax and how you can best prepare yourself to pay future taxes?

How did you do?  Be honest!  Did you answer NO to any of the above questions? Then download a copy of:

 How to Cook the Books eGuide 

ONLY $19.95

Essential skills to ensure the financial viability of your business.

Ingredients

6 essential ingredients to keep control of your finances.

  • Start-up and running costs of a business.  Most importantly, don’t underestimate these costs – they are critical in assessing the viability of the business idea.
  • Obtaining finance for your business.  Firstly, sources of finance and secondly, the types of facilities available for your business.
  • Business records.  For instance, what should you keep to make better business decisions?
  • Restaurant Budgets.  This process involves forecasting, monitoring, and planning.  Therefore, find out the different types of budgets that are useful for a small food business.
  • Costing and pricing.  Firstly, determine the cost and secondly, how to price a product/service.
  • Taxation.  Above all, consider the many laws which apply to a small business.

How to Cook the Books eGuide 

ONLY $19.95.

Method

You already know that some basic records have to be kept so that your accountant can prepare your tax returns and financial statements.  What about the rest of the year?  How for instance, can you get some early warning of problems that are causing you losses?  How can you detect changes in the pattern of trading or plan for profit on a regular basis?

The answer lies in obtaining up-to-date information on the finances of your business through the use of basic accounting techniques.  If you can afford to employ an accountant on a regular basis you should do so.  If not, you can employ an accountant to set up a bookkeeping system for you, which you can then keep up daily, weekly and monthly.

So, what are you waiting for? 

Let us help you understand why money matters.

eGuide:

For a low investment, download a copy of How to Cook the Books eGuide it is easy to read with lots of examples, case studies, tips, and activities…knowhow you can use in your own business immediately.

This eGuide is delivered online, so you can access it from your computer at a time convenient to you.

Do you want to become your own boss this year?

Make it happen!

RECIPE FOR SUCCESS

4 Ingredients

Business Management
Marketing
Operations
Ideas

Method

www.alacartetraining.com