On June 8, 2023, Governor Kay Ivey passed legislation exempting overtime wages earned by full-time hourly employees from Alabama gross income and consequently from Alabama state income tax.
If you’re a restaurant owner, you know that success requires maintaining a delicate balance between great food and excellent service. Other aspects of your business need a sort of balance to be successful as well. For example, you may or may not balance your menu with both high-cost and low-cost items. When it comes to bookkeeping for restaurants, this same mentality applies, but even the most experienced restaurateurs find bookkeeping and accounting leave a sour taste in their mouths. Aldridge Borden and Co. provide the OneSource Solution to help restaurant owners, like yourself, manage their bookkeeping with ease. All it takes is a dash of accounting expertise and a pinch of intuitive software – now you’re cooking with gas!
In this blog post, we’d like to go over some of the common bookkeeping struggles we see our clients dealing with and how the OneSource Solution offered by Aldridge Borden and Co. is the perfect ingredient to save you a lot on your bottom line.
Why Use OneSource Solution for Your Restaurant’s Bookkeeping? We Know Restaurant Accounting
As a restaurant owner, you manage your staff, keep up with inventory, manage menu items, and provide a dining atmosphere your customers will enjoy. You have plenty of tasks taking up your time, and we didn’t even mention the accounting headaches you face every day if you’re doing all of your bookkeeping and accounting in house.
We may not be great cooks, but the expert CPAs at Aldridge Borden and Co. know everything there is to know about your books. Our bookkeeping software was created to take on the complicated financial analysis and daily tasks that otherwise take time away from running your restaurant.
The OneSource Solution software allows you to work with the accountants at Aldridge Borden and Co., and we’re there for you every step of the way. With our OneSource Solution accounting software, you will be able to keep up with your prime costs, the money you owe to vendors, view accurate reporting, and automate account reconciliation.
Accurate, Real-time Customized Reporting
- Daily Sales Reports
- Chart of Accounts
- Profit and Loss Statements
- Cash Flow Statement
- Balance Sheet
- Revenue Report
- Controllable Costs Report
- Financial Forecast
- Start-Up Costs Report
Automated account reconciliation allows you to see in real-time that all transactions are accounted for. Our software assists with reconciling all payroll, bank and credit accounts, lines of credit, loans, etc.
The ability to see account reconciliation in real-time will allow you to stay aware of any discrepancies, including cash variances, incorrect deposits, and lost checks. This protects you from theft and from making mistakes on your tax forms.
The software does most of the work, and we are there to make sure everything is accounted for correctly. We like to think of ourselves as partners in your business because we genuinely care about your success. The OneSource Solution is just one of many tools we use to ensure your business is operating at its best.
Choose OneSource and Aldridge Borden and Co. for Help With Your Restaurant Bookkeeping
If you’re handling your payroll in-house, you have a lot of time burden. Aldridge Borden and Co. provide the experienced CPAs and our OneSource accounting software so that we can take this burden off your hands. We can save you so much time and money by helping with your bookkeeping and tax strategies throughout the year. We know you’re good at running your restaurant, but you may not be great at accounting – we have the recipes for accounting solutions that will result in success for your business.