QuickBooks is the industry standard accounting software. The Chart of Accounts lays out the structure of how you will input data, and more importantly, how your Profit and Loss Statement and Balance Sheet will look.
We recommend that you organize your accounts into meaningful categories. The most common expense categories are:
- Cost of Goods Sold
- Direct Operating
- Repairs and Maintenance
- General and Administrative
- Advertising and Promotion
Once you have your main categories you can create sub-accounts for things like cleaning supplies (under direct operating) or rent (under occupancy).
Our Chart of Accounts (COA) has all the the accounts that a restaurant will need, organized into major categories.
Need more help? We offer individualized phone consultations with a screenshare to coach you through the use of this template.