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In: Finance

Create an account leger outline for a new restaurant.

Create an account leger outline for a new restaurant.

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Expert Solution

Revenues for the Chart of Accounts

  • Beverage Sales
  • Food Sales
  • Other Sales, e.g., Offsite Catering, Speaking Engagements

Expenses to Track

  • Cost of Beverage Sales
  • Cost of Food Sales
  • Any discounts that are given that even marginally affect bottom-line

Occupancy Expenses to List

  • Rent Expense
  • Insurance on Building
  • Security/Alarm Services
  • Janitorial
  • Building Repair and Maintenance (the costs of any routine repairs and maintenance are recorded in this account
  • Except for repairs and maintenance expenses that can be capitalized to the fixed asset account because they extend the useful life of the asset
  • Property Taxes
  • Utilities
  • Disposal Services

Labor Expenses - Management

  • Officer Wages - Officer Salaries and Wages
  • Officer Benefits: Health Insurance
  • Officer Benefits: Meals and Discounts
  • Officer Benefits: Other
  • Management Wages - Management Salaries and Wages
  • Management Benefits: Health Insurance
  • Management Benefits: Meals and Discounts
  • Management Benefits: Other

Labor Expenses - General Employee

  • Employee Wages: Front of the House: Bartender
  • Employee Wages: Front of the House: Bussers
  • Employee Wages: Front of the House: Host/Hostess
  • Employee Wages: Front of the House: Servers
  • Employee Wages: Back of the House: Cooks
  • Employee Wages: Back of the House: Dishwashers
  • Employee Benefits: Health Insurance
  • Employee Benefits: Meals and Discounts
  • Employee Benefits: Other (employee benefits that do not fall into any other category are recorded in this account)

Other Operating Expenses

  • Bad Debt
  • Cash Over/Short
  • Credit Card Fees
  • Liability Insurance
  • Licenses and Permits
  • Corporate Taxes
  • Equipment Repairs and Maintenance
  • Equipment Lease
  • Glassware, Flatware, and Smallware
  • Marketing Expenses
  • Linens, Laundry, and Uniforms
  • Restaurant Décor
  • Menus and Drink Lists
  • Payroll Services Fees
  • Miscellaneous Expenses
  • Accounting Fees
  • Legal Fees
  • Tax Preparation Fees
  • Music and Entertainment
  • Telephone
  • Internet
  • Travel
  • Office Supplies
  • Bank Fees
  • Fines and Penalties
  • Postage and Mailing
  • Interest Expense
  • Depreciation Expense

jeff jeffy answered 2 years ago
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