Restaurant Group Streamlines Accounting Processes by Having SD Mayer Integrate Their Financial Systems
A prominent and highly regarded San Francisco dining experience, Quince restaurant benefitted from SD Mayer’s Outsourced Accounting practice group linking their financial systems and increasing efficiency.
The team at SD Mayer helped to take us from early startup mode, running accounting with Excel and lump-sum journal entries, to proper audit-ready accounting practices. Highly recommended for a bootstrapping startup that needs to up their game. Great team to work with! Friendly, responsive and accurate. Just what you need.
THE CHALLENGE
For this restaurant situation, the monthly close could not be completed on a timely basis; the company was using the wrong software and took months to finalize its numbers. Caused by inefficiencies with the POS and accounting systems, Quince held a poor overview of financials. Billings, orders, and reconciliation all require prompt attention in order to maintain a productive accounting system that provides owners with critical financial data.
HOW SD MAYER HELPED
Because the POS and accounting systems were separate, transferring data required manual entry and an extensive use of time and resources. Quince needed a linked software solution system that could connect their orders, bills, tracking, and sales. Linking these systems could eliminate the realistic probability of human error that comes with transferring data from download to spreadsheet to journal entries.
Using accounting and information systems knowledge and background, SD Mayer stepped in to establish a linking tool that feeds data coming in
from the POS system to where it belongs in Quickbooks Online accounting software. Once set up, the process simply required a daily press of a button to methodically and accurately transfer data. With this we achieved our goal, which had been to install a link for streamlined, automated data flows that would free up time and resources that could be better allocated.
As Quince restaurant was not the owners’ sole asset, SD Mayer worked to standardize their chart of accounts. The financials of two restaurants and a catering business that were once managed on complicated pages of income statements transferred to a clean, clear visual representation separated by multiple classes. This solution allowed the owners to more accurately and quickly track profits and the bottomline.
SD Mayer worked to restructure the general ledger at Quince since late 2014. A common mistake we have seen with clients is a lack of a bigger picture solution when focusing on the accounting system. Invoices must be taken care of, but there is often a way—though it may not be obvious—to train a system to streamline or simplify processes. We provide help in understanding how accounting systems can be personalized to make things easier and more efficient.
THE RESULTS
Our staff are equipped with diverse expertise and experience, and at SD Mayer we proudly merge our specialties together. SD Mayer provided Quince with a unique blend of information systems technology and accounting processes to create a working, understandable information flow for the company. Our outsourced accounting practice delivered work within accounts payable, accounts receivable, payroll, and accounting information systems.
DISCLAIMER:
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, accounting, legal or tax advice. The services of an appropriate professional should be sought regarding your individual situation.
