A step-by-step guide to tracking revenue and expenses, QuickBooks for the Restaurant provides detailed instructions on how to apply the various functions of QuickBooks to control expenses, increase profits, and make informed management decisions. This comprehensive guide contains practical and realistic industry scenarios and practice problems with a section on the simulated financial activity of a typical restaurant operation. Full of helpful accounting advice, QuickBooks tips, and industry scenarios, this book demonstrates how to employ one of the most widely used accounting applications to ensure the financial success of all types of foodservice operations.

Table of Contents:
Preface ix Chapter 1: Introduction 1 About This Book 1 Overview of QuickBooks Software 4 Importance of the Accounting Process to the Restaurant Manager 6 Obtaining QuickBooks Help 7 Aroma Ristorante’s Operating Processes and Activities 9 Chapter 2: Setting Up Your Restaurant in QuickBooks 11 EasyStep Interview—Creating a New Company File 11 Backing Up and Restoring QuickBooks Files 19 Establishing Company Preferences 21 Setting Up an Additional Bank Account 27 Recording Opening Balances 28 Setting Up QuickBooks to Manually Accept Payroll 28 Chapter 3: Working with Lists 45 Using Lists 45 Using the Chart of Accounts 46 Creating and Editing Accounts 46 Deleting Accounts 51 Making an Account Inactive 51 Creating a Vendor from the Vendor Center 52 Creating a Customer from the Customer Center 54 Creating an Item 57 Editing and Deleting a Vendor, Customer, and Item 59 Identifying the Role of Classes 59 Preparing Lists 59 Chapter Review Problems 65 Chapter 4: Restaurant Purchases, Payables, and Inventory 69 The Purchasing Process 70 Working with Purchase Orders 70 Receiving Goods 73 Entering Bills 76 Editing Bills 78 Voiding and Deleting Bills 79 Memorizing Bills 80 Paying Bills 83 Using Vendor Discounts 85 Using Vendor Credits 86 Using the Check Register 89 Creating and Printing Checks 90 Editing, Voiding, and Deleting Checks 92 Inventory Stock Status (Inventory on Hand) and Par Levels 93 Physical Inventory Worksheets 94 Making Inventory Adjustments 96 Other Inventory Management Systems 98 Reports 99 Chapter Review Problems 105 Chapter 5: Sales and Receivables 109 Recording Sales and Receivables 109 Point-of-Sale Systems Interfaces 110 Recording Restaurant Sales from a Point-of-Sale System 112 Creating Customer Invoices 115 Editing Customer Invoices 117 Voiding and Deleting Customer Invoices 118 Printing Customer Invoices 119 Recording Customer Payments 120 Recording Credit Memos 122 Creating Customer Estimates 124 Recording Advance Deposits 126 Reports 129 Chapter Review Problems 134 Chapter 6: Payroll 139 Payroll and the Restaurant Industry 139 QuickBooks Payroll Options 140 Creating a New Employee Record 142 Editing an Employee Record 146 Creating Employee Paychecks 146 Editing, Voiding, and Deleting Paychecks 151 Releasing Employees and Inactivating Employee Records 152 Outsourcing Payroll 154 Reports 155 Chapter Review Problems 160 Chapter 7: Adjusting Journal Entries 165 Identifying the Steps of the Accounting Cycle 165 Preparing a Journal 166 Preparing a General Ledger 167 Preparing a Trial Balance 168 Recording Adjusting Journal Entries 169 Chapter Review Problems 176 Chapter 8: Financial Reporting and Analysis 179 Financial Statements 179 Preparing the Profit & Loss Statement 180 Preparing the Balance Sheet 186 Preparing the Statement of Cash Flows 187 Preparing the Cash Flow Forecast 189 Chapter Review Problems 191 Chapter 9: Budgeting 193 Preparing an Operating Budget 193 Reports 195 Chapter Review Problems 200 Chapter 10: Year-End Procedures and Reporting 203 Payroll Tax Forms 203 Form 941: Employer’s Quarterly Federal Tax Return 204 Form 940: Employer’s Annual Federal Unemployment (FUTA) Tax Return 204 Form W-2: Wage and Tax Statement and Form W-3 Transmittal of Wage and Tax Statements 209 Form 1099 MISC: Miscellaneous Income and Form 1096: Annual Summary and Transmittal of US Information Return 210 The Closing Process 212 Chapter Review Problems 213 Chapter 11: Other Restaurant Functions 215 Managing Fixed Assets 215 Recording the Stock Issuance 217 Recording the Dividend Distribution 219 Establishing a Petty Cash Fund 220 Writing Off Accounts Receivable 221 Recording Gift Certificate (Gift Card) Transactions 222 Recording Sales Tax Payments 224 Preparing the Bank Reconciliation 225 Chapter Review Problems 226 Chapter 12: Comprehensive Project 227 Comprehensive Project Objectives 227 Option A 228 Option B 228 Reports 271 Chapter Review Problems 272 Glossary 275 Index 281