Accountant

JOB RESPONSIBILITES

1. Financial Reporting:

• Prepare and maintain financial statements (income statement, balance sheet, cash flow statement).
• Provide accurate and timely reports to management on financial performance, including cost of goods sold (COGS), labor costs, and profit margins.
• Assist with budgeting and forecasting, helping the restaurant plan for expenses and revenues.

2. Cash Flow Management:

• Track daily cash flow and ensure sufficient liquidity to cover operational expenses.
• Monitor daily sales and ensure that they align with reported figures.

3. Payroll Management:

• Calculate employee wages, bonuses, and tips.
• Ensure compliance with payroll tax requirements and timely payroll disbursements.
• Track employee hours worked and handle overtime calculations.

4. Accounts Payable & Receivable:

• Process and monitor vendor invoices for supplies and equipment.
• Ensure timely payment of invoices and maintain good relationships with suppliers.
• Manage customer accounts and ensure timely collection of outstanding receivables.

5. Inventory Control:

• Help monitor inventory levels to prevent overstocking or stockouts.
• Track food and beverage costs and report on any discrepancies.
• Assist with the valuation of inventory for financial reporting purposes.

6. Cost Management and Analysis:

• Analyze operating costs (food, labor, utilities) and identify areas where cost-saving measures can be implemented.
• Review pricing strategies to ensure profit margins are met.
• Conduct break-even analysis to assess the restaurant’s profitability.

7. Tax Compliance:

• Ensure timely filing of federal, state, and local taxes, including sales tax, payroll tax, and income tax.
• Maintain records of tax payments and assist in tax audits if needed.

8. Financial Audit and Internal Controls:

• Ensure that financial transactions and operations comply with legal and industry standards.
• Set up internal controls to prevent fraud and discrepancies in the financial system.

9. Liaison with Management:

• Provide financial advice and insights to restaurant management to support decision-making.
• Help with strategic planning, especially regarding profitability and financial growth.

10. Software Management:

• Use accounting software to track financial transactions, manage reports, and ensure all records are up to date.
• Ensure the accuracy of software data input related to revenue, expenses, and financial statements.

11.Recipe Costing:

• It involves calculating the total cost of ingredients for each dish on the menu.
• The accountant will track the cost of every ingredient in the dish (e.g., the cost of vegetables, protein, spices, etc.) based on purchasing prices and quantities used per recipe.