Restaurant Accounting

For more than 40 years, the Questus team, led by Irwin Magad, have helped restaurant operators realize the potential of their businesses and maximize their return on investment. Our “recipe” is our unique blend of food service experience and a genuine interest in helping to create (and preserve) wealth for our clients. We accomplish this by providing solutions to meet the unique needs of the restaurant business, with an emphasis on increasing profitability, reducing taxes, and staying in compliance with government regulations.

 

These are just some of the services Questus makes available to our restaurant clients:

 

Featured Services

 

  • Financial Reporting
    Our industry-specific financial income statements give you the information relevant to making your restaurant business successful. We include information relative to your business along with comparisons to prior periods and years, month-by-month, cost of sales analysis, franchise-specific statements, check averages and head counts, and more.

  • Business Plans / Projections
    Whether you’re starting a new restaurant or a new restaurant concept we can help develop your plan & prepare financial projections tailored to the industry.

  • Menu Costing & Engineering
    Menu costing can be very difficult due to fluctuating food prices and various other expenses. However, costing out a menu is the only way an operator will ever know when and where changes in the menu are necessary. We can help you understand how to control your costs of good sold (COGS) and continuously cost out your menu in order to achieve maximum profitability.

  • Weekly Profit & Loss Reporting
    
Only by having accurate and timely knowledge of your restaurant’s financial information, can you quickly identify and react to problems that arise during your day-to-day operations. We provide our clients with the tools to produce simple and meaningful daily and weekly internal reports to help stay focused on their financial goals.

  • Lease Structure & Negotiations
    Restaurant leases can be complex and difficult to change. Questus can help negotiate a lease structure up front, appropriate for your industry. We can inform you of the important aspects of lease negation relative to the restaurant industry including payment of tenant improvements, base versus a percentage of sales, what to exclude from sales, and more.

  • Site Selection Assistance

    Whether it’s your first, second or one- hundredth location we can guide you through demographic research or refer a full-time specialist.

  • Computer Systems & Software

    We can help evaluate and recommend specific restaurant technology solutions to help you better manage your business. Areas most relevant to restaurants include: Point of Sale, accounting, payroll, back-office, purchasing, time & attendance, web-based software, and more

    • Additional Services

  • CFO / controller services
  • Employee recruiting
  • “Prime costs” analysis (COGS & Labor)
  • Overhead expense analysis (line by line)
  • Employee incentive plans
  • Raising capital through private equity
  • Financing – SBA, senior lenders, equipment lenders
  • Statistical comparisons (locally and nationally)
  • Franchise operator services (including reporting requirements, required financial statement formats, budgeting, consolidating financial statements for multiple locations, comparisons with Franchisors’ corporate stores, and expert assistance with expansion or sale)
  • Time and attendance consulting
  • Consultation regarding compliance with existing and complex tip laws (TRAC agreement, Form 8027, banquets & service charge income)
  • Tip audit representation before the IRS
  • Employment tax consulting, including SUI & FICA credits
  • Sales tax audit representation before your State Department of Revenue
  • Location acquisition and disposition assistance


    • For more information on how Questus can make a difference in your restaurant business, contact Irwin Magad at 847.580.5408 or e-mail imagad@cjbs.com.
    CJBS Restaurant Accounting