Your restaurant has grown and it’s time to get help managing all of the financial aspects of running a business. Why not hire someone who has experience working with restaurants?
CoEfficient Services knows the restaurant industry inside and out – and we are here to help so you can get back to doing what you love. Our solutions are scalable, so whether you have a single location deli or a multi-location full-service restaurant, we can support you.
We offer a range of reliable accounting services including:
- Budgeting and Reporting
- Performance benchmarking data
We Save You Time and Hassle
Though owning a restaurant may be a dream come true, it’s also a business – and we can help you run it better. Small business owners waste 4 billion hours per year on administrative tasks1 — let us take some of the burden off your shoulders.
We can handle your bookkeeping, payroll and financial reporting, and our cloud-based services will give you the information you need instantly, from any place and any device. We use QuickBooks so you aren’t locked into proprietary software.
Your accounts payable, cash reconciliation and payroll will be processed quickly and efficiently so you and your employees can get back to serving great food.
The monthly financial report we provide you will always be clear and actionable – you won’t need an MBA in order to understand it. We also deliver a cash report weekly to help you stay on top of your cash flow, so you can be confident making the decisions necessary to run your restaurant.
We Protect You From Fraud
You may be surprised to know that 32% of small businesses experience fraud, and the average loss is $147,0001. Embezzlement and theft are real threats to your restaurant.
We employ a 5-point fraud protection program to protect your business, alert you quickly to potential problems and make sure your money stays with you. This program includes:
- Separation of duties – we offer enough scale to make sure duties are separated among staff members.
- Reconciliations (cash, bank accounts, credit cards, etc.)
- Reporting – monthly reporting designed to alert management of any anomalies
- Data security – all client data is hosted in a best-in-class data center with state-of-the-art security practices
- Corporate structure – as a well-capitalized services company, fraud costs us a lot more than it costs an individual employee or a solo bookkeeper
We also use an electronic approval process so you retain control of your money and save time. Your profitability data is safe with us — it will never be shared with your staff. Your privacy and security are important concerns and we take them seriously.
We Help You Along Your Path to Success and Keep You Compliant With the IRS
Benchmarking is a critical component to your success as a business. We help you understand where your business is going, how your restaurant is performing against the competition and what moves you can make to get ahead.
Plus, we take care of the details so you don’t lose sleep worrying about an IRS audit. We make sure your payroll tax filings and sales tax filings are done right and done on time. But if you do get audited, we will be there to support you the whole way through. We have 100% of the required documentation available in a searchable database to support the audit process – no digging through old boxes to answer questions.
Our only incentive is getting it right — so you can trust the insight we give you. You retain control, we just take some of the administrative burden off your shoulders and help point you in the right direction.
Never struggle to figure out your restaurant financials alone again. CoEfficient Services’ full-time account support staff, experienced in handling restaurant finances, will be there for every question and every concern.
1Sources: Association of Certified Fraud Examiners; OfficeMax 2013 SMB Survey