Restaurant Resiliency Workshop: Business finance

Independent restaurants and other foodservice businesses such as caterers, food trucks, cafes, and bakeries.

Managing your business financials should be useful, not stressful.

In an ideal world, restaurant owners would review their books regularly and use the data to make informed decisions. But too often, we can’t prioritize the financials until it’s Tax Day, and then we have to play catchup. This can result in a stressful, expensive, and tedious relationship with our accountants, who are sometimes more focused on putting together tax forms than producing documents that are actually useful in running the business. When you can trust and communicate with your accountant, it’s possible to have both!

In this webinar, Dylan Gully of ReThink Restaurants will guide owners through the best ways to manage and evaluate relationships with accountants. This isn’t Finance 101 — it’s Accountants 101. What questions should you be asking? How do you want your financials organized? How much should you be paying?

He will review some common pitfalls in restaurant-specific accounting that, when addressed, can make your financial statements more accurate and more useful to you as a business owner. We’ll cover topics such as:

• What’s the difference between an accountant and a bookkeeper?
• How often should I be talking to them?
• What financial admin work can and should I do myself?
• How often should I look at my profit and loss statements? At my balance sheet?
• Where do I start if I’ve never organized my financials?

If you’ve ever wondered whether you should trust your accountant, think of this session as getting a second opinion.

This event is presented by CommonWealth Kitchen and the City of Boston, in partnership with Toast, Inc.