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Salt Lake City Bookkeeping Blog

Should I Be Tracking My Restaurant Tips?

Posted by Thomas Liquori on Feb 15, 2017 9:00:00 AM

In general, business owners and other professionals want to keep track of all their income. This includes moderate and small amounts. However, does it also include tracking incoming restaurant tips if you’re working in the food industry and employ people like wait staff, bartenders, bussers and hosts who are earning tips?

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Topics: Small Business, Restaurant Business, restaurant tips

Restaurant Overhead and Setting the Prices

Posted by Thomas Liquori on Nov 30, 2016 9:00:00 AM

One of the most difficult steps to opening a restaurant is calculating your overhead and then setting your prices. Knowing your overhead before you get started can help you to decide if you are opening in the right market, if your target consumer can afford the prices you will set, and if you are going to turn a profit.

Planning and preparing before jumping into an opening can set your foundation for serving happy costumers, while keeping you afloat.

Calculating Your Overhead

The term “overhead” is thrown around a lot in the business world. In short, it refers to the operational costs not related to your direct materials and labor. What are you spending apart from food expenses, waiting and dish staff, and your cooking staff? Some expenses you will want to consider include:

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Topics: Restaurant Bookkeeper, Restaurant Management, Restaurant Business