A large, successful, Washington D.C. area restaurant group, requested our assistance in managing their back office. They have three restaurants, and a consulting arm that serves as its management unit. They asked us to take over accounts payable processing, payroll (300 employees), daily transaction recording and tax return preparation.
At the time we began our relationship with the client, they had recently upgraded accounting systems from Quickbooks Online to Compeat Advantage. A much more flexible system, Compeat Advantage is designed specifically for restaurants with a focus on inventory control.
With a high volume of daily invoices, the client was interested in an outside A/P processing firm so they could focus on what they do best: serving up delicious culinary creations.
Coordination with the client is critical in managing the day to day transactions of a multi-restaurant chain. Our team works closely with Chef Geoff management to provide near, real time visibility into food and beverage costs, giving management actionable, decision making data.
Our firm takes responsibility for entering all invoices from vendors, cutting and mailing the checks and following up to maintain strong vendor relationships.We negotiated an upgrade with the payroll provider to enhance the employee portal and to make the flow of information between payroll and the accounting module smoother.
The Goldin Group team handles the allocation of inter-company costs between restaurants, payroll processing and the filing of sales tax and property tax returns. In addition we make ourselves available to research any state or federal regulatory compliance issues.
We meet with the management team once a week at their location to ensure we are on the same page and to sort out/clarify ongoing issues.
Due to our familiarity with the complex nature of a multi-restaurant chain, we are naturally in the best position to prepare and file the annual federal and state returns for each restaurant.
We continually explore software and other methods for automation and making the high volume of transactions more efficient.
Our client can now concentrate on managing restaurants and we will in turn ensure continuity, fluidity and reliability in the back office operation.