Below is an excerpt of an article by Sean Dawson, accounting services shareholder in our Overland Park office, which was published in Full Service Restaurant Magazine. Click here to read the full article on the FSR website.
Entrepreneurial restaurant owners are great at juggling priorities ranging from pleasing demanding patrons to hiring staff, but one ball that often gets dropped in the juggling act is the financial side of the business. Smart owners know when they need help, but they often don’t know how to find an accountant or what questions to ask.
Do you spend too much time trying to understand what your financials are telling you?
If you are stressed out at the thought of having to review a financial statement or if you are uncomfortable making major financial decisions, it’s time to find help. You also need to decide how much help you need. Are you ready to delegate your payroll to an outside provider? Do you just need help with tax returns, or do you need help from an experienced accountant who can identify potential tax issues?
Are you ready to delegate?
As an owner, you have control over your restaurant’s operations. Delegating your financial affairs to someone else can be uncomfortable at first. At some point, letting go of the stress that comes with managing your restaurant’s financials can free you up to focus on what you’re really good at, like keeping customers coming through the door.
Click here to read the article in its entirety.