Successfully closing out a period can start the domino effect for proactively operating a restaurant versus missed opportunities for the following periods. The purpose of the Period End Financial Close is to verify accuracy so you can understand where your money is going in order to make quicker, more educated business decisions. When Closing out the period, it should start with a review of the financial statements; The Profit & Loss Statement, The Balance Sheet, and The Cash Flow Statement. Within each statement, there are even more defined areas of focus that should pop out to an operator as a must-watch for success. In this episode of The Tip Share, RASI Director of Education, Brittany Ward discusses a key account to concentrate on when conducting a Period End Financial Close: Due To/From Accounts.
Read the full Blog Post: https://rasiusa.com/blog/restaurant-accounting-tips-how-to-audit-due-to-from-accounts/
Watch the full Video: https://youtu.be/nJktYzH98B8
RASI Instagram: https://www.instagram.com/rasinc__/
RASI Twitter: https://twitter.com/RASInc_
RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc
Are you the creator of this podcast?
and pick the featured episodes for your show.
Connect with listeners
Podcasters use the RadioPublic listener relationship platform to build lasting connections with fansYes, let's begin connecting
Find new listeners
Understand your audience
Engage your fanbase