Restaurant Accounting Checklist

Prepared by: [Your Name]

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I. Daily Tasks

• Reconcile cash drawers

• Record daily sales

• Deposit cash in the bank

• Enter sales data into the accounting system

• Record credit card transactions

• Record inventory usage

• Update inventory levels

• Track employee hours worked

• Prepare for accurate payroll processing

II. Weekly Tasks

• Review invoices from suppliers

• Schedule and process payments

• Reconcile bank statements

• Verify internal records match bank transactions

• Record and categorize all expenses

• Monitor spending against the budget

• Adjust labor costs based on business needs

• Monitor overtime and labor efficiency

III. Monthly Tasks

• Prepare profit and loss statement

• Create balance sheet

• Generate cash flow statement

• Conduct physical inventory count

• Compared with recorded inventory levels

• Compare actual performance with budgeted projections

• Identify variances and take corrective actions

• Calculate and process payroll

• Deduct taxes and benefits accurately

• Calculate sales tax liability

• Remit sales tax to appropriate authorities

IV. Annual Tasks

• Conduct internal audit or hire external auditors

• Review financial controls and compliance

• Gather necessary documents for tax filing

• Prepare and file annual tax returns

• Develop a budget for the upcoming year

• Incorporate lessons learned and future projections

• Ensure compliance with local, state, and federal regulations

• Update policies and procedures as needed

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