Accounting for a Restaurant
Scenario
I have just been assigned as the new system analyst at a restaurant
called 'Venice' that specialises in Italian food. Up until now all the
accountancy was done manually, so it took a lot of time to keep it up
to date. To make it easier and more efficient I have been assigned to
introduce a spreadsheet system to help calculate the annual profit the
restaurant makes. This will save hours of paper work. The new method
will save all finance information into a spreadsheet that can be
easily accessed. Information could be searched for and found at the
click of a button. Formulas will enable me to automatically work out
the annual profit of the restaurant and other important calculations.
As I edit things like prices, the rest of the information in the
database linked to them will also change. Hopefully, the new
computerised system will help me get the accountancy of 'Venice' back
on track in no time.
Interview
To find out the exact requirements for the new spreadsheet system I
decided to carry out an interview with the manager of the restaurant,
asking his opinion. This is how it went:
Manager: I am really glad you've accepted to introduce a
computer-based system for our annual profit calculating. Lately, our
employees have been spending long hours trying to record outgoings and
income. Not only have they been wasting time (in which they could have
been doing other useful jobs) but they have also struggle with keeping
the accuracy of the any mathematical calculations they carry out.
Also, the accountancy tends to fall behind on keeping information up
to date. For example if we start buying a new type of drink, then our
accountants have to go through all the paper work and try to include
it where relevant. Then they need to manually calculate and change the
new outgoings total.
Me: I see the problem. Well the new spreadsheet system will allow this
whole process to be automated.
Within the Brookfield’s Restaurant organization there is a problem of having a high turnover rate, which is dependent on employee’s motivation as well as how much they feel they are involved in the company culture. Since the restaurant is a fast paced food service industry that requires employees to be capable of handling the pressure of dealing with many customers’ demands while also providing a high level of service to each guest which can be hard for many, making them less motivated to work. Also, the company culture is important by making the employees feel welcomed in the company and to help support them while on the job, so as to the employees want to stay on the job and not wanting to leave. We will provide an analysis showing employee’s work motivations and involvement in the company culture to determine if these factors are the cause of the high turnover rate.
[Accessed: 20 Feb 2014]. Appendix Interview questions How long have you been a manager at this business for? Do you have a degree in management or a qualification in it? Have you received any managerial training in this job or a previous job? How long did it take you to become a manager?
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Tipping is not just pushing cows down but also an amount of pay for servers in the restaurant industry. In today's society, tipping is a social norm; you go out to eat and tip a certain percentage to your server. What many do not know is how much to tip or even why they should tip their server. Servers in many states have an income of two- four dollars hourly on their checks. Of course, tipping is part of their income but it can be a problem when not making enough. Every night differs from the next on how much a server makes overall. Basically, servers solely depend on the tips they receive at the end of the night. Many would think that eventually the two- four hourly pay would add up, but that money is taxed. Therefore, paychecks are usually zero to a few dollars; clearly, the system is complicated. Overall, servers do not have a stable income and many issues come with it.
To understand the basics of accounting a person needs to understand the steps involved. Each step is necessary in order to provide complete and accurate financial stat...
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For this assignment week three Financial Accounting course, our class has been tasked with using what we have learned thus-far. Once we have created this spreadsheet we will apply the skills we have learned by applying what we know in this financial spreadsheet. This spreadsheet will be capable of tracking and accounting many different aspects of business transaction. As an example, there will be several types of transaction, but for example, the financial spreadsheet that will account for items such as for financial gains, accounts payable, and several types of financial adjustments to inventory.
No need to hire or pay a bookkeeper. 2.) Takes time to train people to work
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My interview is with a manager of a restaurant, the restaurant can have as many as 75 customers, and staff of 14. The restaurant served your everyday American food.
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