How We Work
A Bird’s-Eye View
in practice
Perhaps your reporting shows a high food and wine cost, but low beer and liquor cost. We would address this from all angles, asking questions such as the following, as well as assisting in answering them:
Have all invoices have been received and booked correctly?
Has inventory been taken accurately, with updated pricing?
Is recipe costing accurate?
Was pricing set correctly in the POS?
Are comps and discounts accounted for?
Have ingredients been transferred between the kitchen to the bar, and if so how is it accounted for?
Is waste being tracked?
FROM THE BOTTOM UP…
MBS will start by reviewing your current financials for areas that may need work, or questions that may arise. We will then discuss to ensure all aspects of the finances are understood and that everything needing attention is on the table. The foundation of a successful partnership will be understanding your needs and expectations, and communicating what is needed to achieve them.
We start reviewing and updating your books in detail. Cash, A/P, A/R and balance sheet accounts are reconciled and any questions related to these are sent. These questions will be sent on a weekly, bi-weekly or monthly basis depending on needs.
In tandem, we set you and your staff up with systems so we have a reliable flow of information. We train on cash handling files, inventory procedures, POS setup, recipe costing, invoice handling, and much more as needed. A common saying in accounting, “Garbage In, Garbage Out” is what we avoid, actively working to increase regularity, accountability and reduce errors in all incoming data.
Financials are prepared and reviewed. At this point we can start to address COGS, Payroll and Operating expenses for profitability. Deeper analysis and remediation is directed from these reports.
“I hope you know how important you have been to our company. I truly believe the service you offered our team leaders is irreplaceable. Thank you”