Many restaurant owners use period basis instead of monthly basis for a few important reasons. Four-week reporting periods make it easier to compare numbers and plan for physical inventories. Having a weekly cycle is also helpful for the preparation of weekly reports.
One major reason why restaurant owners don’t use periods is resistance from their accountants. After all, bank statements come monthly, many payments are made monthly, and sales tax is paid monthly.
What if you had restaurant accounting software that made it easy to use periods instead of months? Indevia Accounting has partnered with Restaurant365 to offer an accounting solution that was designed for restaurants. In Restaurant365, budgets can be created according to your reporting requirements, whether it’s 4-4-5, 13 4-week periods, or something else.
Our free guide, Bridging the Gaps: Indevia Accounting’s Top 5 Restaurant Software Integrations is available now! Click here to learn more about how your accounting software can connect to POS, bank, payroll provider and more.