Introduction The difference between surviving and scaling in the restaurant industry often comes down to financial leadership. While great food and hospitality draw customers in, it is smart financial strategy that keeps the doors open and the margins healthy. The best restaurant CFO services go far beyond bookkeeping and accounting. They operate as a strategic […]
Author Archives: Mitchell Nance
19
Mar
Mar
Running a restaurant is one of the most rewarding and demanding ventures in business. Yet even the most talented chefs and warmly reviewed dining rooms can fail without one critical ingredient: financial discipline. Great food and hospitality fill tables, but it is rigorous bookkeeping that keeps the lights on, payroll met, and profit margins intact. Best restaurant […]
13
Mar
Mar
Running a profitable restaurant has always been a balancing act, but in today’s environment of rising food costs, tightening margins, and unpredictable supply chains, operators can no longer afford to manage inventory and food costs by gut feeling alone. Inventory and recipe costing software has become one of the most powerful tools available to hospitality […]
13
Mar
Mar
We don’t have to tell you how demanding running a hospitality business is you already live it. Margins are thin, regulations are strict, and the pace rarely slows down. In that environment, your accounting team isn’t just handling numbers; they’re either protecting your profits or quietly allowing them to slip away. Do you receive daily/weekly […]
Accounting
Outsourced Bar Accounting: How Professional Financial Management Increases Profit and Control
05
Mar
Mar
For bar owners and nightlife operators, the margin between a thriving venue and a shuttered one often comes down to numbers that never make it onto the cocktail menu: pour costs, tip reconciliation, shrinkage rates, and labor-to-revenue ratios. These aren’t areas where generic bookkeeping software or a generalist accountant tends to excel. They require a specialized approach, one that understands […]
13
Jan
Jan
Opening a restaurant is where dreams meet passion, often created to pass down culture through generations. But how does it actually happen? You have the perfect name, the perfect concept, your ideal menu, but what’s next? How does a restaurant get off the ground? This article will breakdown the allure of owning a restaurant vs. the reality of the business. Success in the restaurant industry depends […]
13
Jan
Jan
The dining landscape in Washington, D.C., is currently a sobering reflection of the broader economic pressures hitting the restaurant industry nationwide. As 2025 draws to a close and the calendar turns toward 2026, the sheer number of shuttered windows and “For Lease” signs in the capital serves as a stark warning. With 92 recorded closures this year, […]
09
Jan
Jan
Breaking Down Hospitality Accounting: What makes accounting in the hospitality industry different from any other business? To the uninitiated, numbers are just numbers. But to an owner-operator or a finance director in the world of hotels and restaurants, those numbers represent a living, breathing organism that changes by the hour. Hospitality accounting is a specialized […]
16
Dec
Dec
The UK’s latest Autumn Budget, announced in November, introduces a combination of budget adjustments and limited relief aimed to cut the cost of living and tackle inflation. While the budget introduced some welcome reforms for business rates, these measures are largely overshadowed by significant structural cost increases, particularly soaring wages, and a continued squeeze on […]
11
Nov
Nov
Labor costs are a major expense and a complex challenge for the hospitality industry, as compliance is regulated by a shifting landscape of federal, state, and local laws. Successfully navigating this requires diligent adherence to the Fair Labor Standards Act (FLSA) baseline rules, covering minimum wage, overtime, and mandatory poster display, while simultaneously managing stricter […]
15
Oct
Oct
Running a successful restaurant is an intricate blend of culinary art, demanding customer service, and rigorous financial management. While the front-of-house action often steals the spotlight, a vital yet frequently neglected function directly impacts profitability, compliance, and sustainability: bookkeeping. Many restaurant operators view financial tracking as a necessary evil, something to be tackled only when […]
10
Oct
Oct
The Modern Restaurant Tech Landscape For a long time, the restaurant industry lagged other sectors in adopting new technology. Many businesses relied on outdated legacy systems that were difficult to integrate and required costly developer intervention for even simple changes. However, over the last decade, the landscape has rapidly evolved. Today, modern platforms and software […]
17
Sep
Sep
In the past, restaurant lease accounting was relatively straightforward. Most leases were treated as operating expenses, appearing only on the income statement. However, with the introduction of new accounting standards like ASC 842 (in the U.S.) and IFRS 16 (internationally), lease management requires the help of financial experts like Paperchase to fully understand and manage […]
05
Sep
Sep
Revenue Management for Hospitality Industry: Profitability in the hospitality industry isn’t just about filling rooms; it’s about optimizing every available room, table, or service offering. It’s the difference between a business that survives and one that thrives. In today’s competitive landscape, success hinges on a sophisticated, data-driven approach to pricing and inventory, a practice known […]
You’re a business owner on a rapid growth trajectory, but your nights are spent buried under a mountain of spreadsheets. Or perhaps you’re a busy restaurateur, feeling the strain of managing daily sales, vendor payments, and payroll. In either scenario, you’ve likely reached a critical juncture: your current accounting system is no longer working. It’s […]
