How to Set Up QuickBooks for Restaurants?

Do you have a catering, restaurant or a food truck and you want to manage finances easily with QuickBooks? Download Dancing Numbers and set up the QuickBooks for restaurants. Make a smart decision by managing costs and saving time with accounting automation.

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Be it from catering, food truck, or a restaurant, it is possible to monitor your income and expenditure. Accumulate, report, or pay sales tax faster, regardless of what are you doing, QuickBooks assembles the data at your fingertips to handle the cost and take quick plus smart decisions. All in all, accounting software like QuickBooks can help restaurants manage their books quite well, and add to their overall productivity.

Save Time, Reduce Errors, and Improve Accuracy

Dancing Numbers helps small businesses, entrepreneurs, and CPAs to do smart transferring of data to and from QuickBooks Desktop. Utilize import, export, and delete services of Dancing Numbers software.

Why do You Need to Setup QuickBooks for Restaurants?

When you setup QuickBooks for restaurants, you get a host of benefits that include:

Detailed Reports and actionable Inputs

Restaurants have tight margins. Hence, when an owner tries to change the operations or the menu, it affects the bottom line. It is very convenient to run the profit and loss reports, evaluate the performance and make the necessary adjustment by setting up QuickBooks for Restaurants.

Experience Live Bookkeeping Assistance

QuickBooks allows you to talk to a bookkeeper to analyze your financial books, run the required reports and also get assistance with bank reconciliations. As a result, you get more time to run your particular restaurant.

Automate Invoice and Bill Approvals

Requesting manual approval is an old and obsolete thing. It is the era of automating the accounting system by utilizing customized workflow templates to make repetitive billing and invoicing tasks hassle-free and convenient.

How to Set up QuickBooks for Restaurants?

Here are the steps to set up QuickBooks for restaurants:

Set up and Company Lists

Step 1: Press the Express Start button in case you are new to QuickBooks and have never used it before. If you are an experienced user, press the File menu and then the option New Company.

Step 2: Share the details requested concerning your business. Add all the required company details in the Street Name, Company Name, Phone, City, Country, Email Address, Tax ID, Website ID, etc.

Step 3: Press Next.

Step 4: Choose Help Me Choose option from the given Industry type field. Choose Restaurant, Bar, or Caterer.

Step 5: Press Next.

Step 6: Choose your company type from the list of the options provided. Restaurants may be categorized as an S-Corporation, Partnership Corporation, or any other option that is suitable for your organization type.

Step 7: Press Next.

Step 8: Press the option My Fiscal Year Starts in from the drop-down menu and choose the month when your particular organization has initiated its fiscal year.

Note: Usually companies begin in January. In case you own a seasonal restaurant, like a mountain resort or ski lodge, choose the first month to do your business.

Step 9: Press Next.

Step 10: Press Create Company File and then click Start Working.

Step 11: Press the Lists menu and then click Add/Edit multiple list entries.

Step 12: Choose the List option from the drop-down menu and select Customers, Items, or Vendors list.

You will require to repeat this process in order to set up your list of customers, items, and vendors list.

Step 13: Press the empty row first and enter the details of the first entry you made. It can be the Customer Name in the Customer List, Item Name in the Item list, or the Vendors name in the Vendor’s list.

Step 14: Press Save Changes.

Build Classes

Step 1: Press the Lists menu and choose Class List. Now press the particular Class button.

Step 2: Enter a name for the particular class. It is possible to create a class for a particular restaurant department or location like catering.

Step 3: Press Next to add another class or choose OK and Save and Close the Class list.

When adding customer transactions, choose the right class on the invoice or bill.

Are you stuck while setting up QuickBooks for restaurants? Do not worry. It can be solved easily.

In this article, we have explained in detail and step-by-step we have mentioned how you can set up QuickBooks for restaurants easily.

If you are still confused about it and need professional help with it, you can get in touch with us. Our Dancing Numbers team of qualified QuickBooks experts will make it easy for you.

Accounting Professionals, CPA, Enterprises, Owners

Looking for a professional expert to get the right assistance for your problems? Here, we have a team of professional and experienced team members to fix your technical, functional, data transfer, installation, update, upgrade, or data migrations errors. We are here at Dancing Numbers available to assist you with all your queries. To fix these queries you can get in touch with us via a toll-free number
+1-347-428-6831 or chat with experts.


What are the Financial Reports you can Generate for Your Particular Restaurant Business in QuickBooks?

Here are some of the major financial reports that be generated for a restaurant via QuickBooks:

Sales Reports: cash receivables and collections daily, weekly or monthly.
Profit and Loss Report: With this report, you can check your revenue with your expenses and determine whether the business has made a profit or loss.
Budget Report: Check how much you have invested or earned in comparison to your budget for variances.
Inventory Report: With this report, you can analyze the recipes, ingredients, and food menu.
Expense Report: This report talks about credit or cash payables to the service providers and vendors.
Balance Sheet: This report helps you to monitor your assets and liabilities and determines what is the worth of your business.

How to Manage Restaurant Inventory via QuickBooks?

It is possible to manage restaurant inventory through QuickBooks, especially if the restaurant is not a big one.

There are two options for managing inventory in QuickBooks, they are Tracked and Untracked inventory options. Those inventories that do not count or determine inventory balances are called Untracked inventory.

In order to set up the inventory, it is crucial to list down inventory items systematically. Inventory count diminishes or increases when the purchase of sales is recorded.

An inventory report is generated by QuickBooks that includes:

Inventory Valuation Information
Inventory Valuation Synopsis
Physical Inventory Log

Note: It is very affordable to use QuickBooks for restaurant inventory in the initial years. This is because it helps the business to grow and expand seamlessly.

How to Manage Restaurant Payroll with QuickBooks?

Generally, in the restaurant business, there are several casual and part-time workers. Hence, to monitor the employee details and wage information is imperative to be in sync with the payroll tax rules.

QuickBooks has a payroll feature. This feature has incredible options like automatic tax determination, time-tracking, etc.

In order to begin with payroll, you must set up and enter the employee information like basic details and the pay rates. QuickBooks will determine the tax and wages automatically on the given due dates.

Features of Dancing Numbers for QuickBooks Desktop

Imports

Imports

Exports

Exports

Deletes

Deletes

Customization

Customization

Supported Entities/Lists

Dancing Numbers supports all QuickBooks entities that are mentioned below:-

Customer Transactions

Invoice
Receive Payment
Estimate
Credit Memo/Return Receipt
Sales Receipt
Sales Order
Statement Charge

Vendor Transactions

Bill
Bill Payment
Purchase Order
Item Receipt
Vendor Credit

Banking Transactions

Check
Journal Entry
Deposit
Transfer Funds
Bank Statement
Credit Card Statement
Credit Card Charge
Credit Card Credit

Employee Transaction / List

Time Tracking
Employee Payroll
Wage Items

Others

Inventory Adjustment
Inventory Transfer
Vehicle Mileage

Technical Details

Easy Process

Bulk import, export, and deletion can be performed with simply one-click. A simplified process ensures that you will be able to focus on the core work.

Error Free

Worried about losing time with an error prone software? Our error free add-on enables you to focus on your work and boost productivity.

On-time Support

We provide round the clock technical assistance with an assurance of resolving any issues within minimum turnaround time.

Pricing

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Importer, Exporter & Deleter

*See our Pricing for up to 3 Company Files

$199/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Unlimited Export
  • Unlimited Import
  • Unlimited Delete

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Accountant Basic

*See our Pricing for up to 10 Company Files.

$499/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer,Exporter,Deleter
  • Unlimited Users
  • Unlimited Records
  • Upto 10 companies

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Accountant Pro

*See our Pricing for up to 20 Company Files.

$899/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer, Exporter, Deleter
  • Unlimited Users
  • Unlimited Records
  • Up to 20 companies

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Accountant Premium

*See our Pricing for up to 50 Company Files.

$1999/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer, Exporter, Deleter
  • Unlimited Users
  • Unlimited Records
  • Up to 50 companies

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Frequently Asked Questions

 
How and What all can I Export in Dancing Numbers?

You need to click "Start" to Export data From QuickBooks Desktop using Dancing Numbers, and In the export process, you need to select the type you want to export, like lists, transactions, etc. After that, apply the filters, select the fields, and then do the export.

You can export a Chart of Accounts, Customers, Items, and all the available transactions from QuickBooks Desktop.


How can I Import in Dancing Numbers?

To use the service, you have to open both the software QuickBooks and Dancing Numbers on your system. To import the data, you have to update the Dancing Numbers file and then map the fields and import it.


How can I Delete in Dancing Numbers?

In the Delete process, select the file, lists, or transactions you want to delete, then apply the filters on the file and then click on the Delete option.


How can I import Credit Card charges into QuickBooks Desktop?

First of all, Click the Import (Start) available on the Home Screen. For selecting the file, click on "select your file," Alternatively, you can also click "Browse file" to browse and choose the desired file. You can also click on the "View sample file" to go to the Dancing Numbers sample file. Then, set up the mapping of the file column related to QuickBooks fields. To review your file data on the preview screen, just click on "next," which shows your file data.


Which file types are supported by Dancing Numbers?

XLS, XLXS, etc., are supported file formats by Dancing Numbers.


What is the pricing range of the Dancing Numbers subscription Plan?

Dancing Numbers offers four varieties of plans. The most popular one is the basic plan and the Accountant basic, the Accountant pro, and Accountant Premium.


How can I contact the customer service of Dancing Numbers if any issue arises after purchasing?

We provide you support through different channels (Email/Chat/Phone) for your issues, doubts, and queries. We are always available to resolve your issues related to Sales, Technical Queries/Issues, and ON boarding questions in real-time. You can even get the benefits of anytime availability of Premium support for all your issues.


How can I Import Price Level List into QuickBooks Desktop through Dancing Numbers?

First, click the import button on the Home Screen. Then click "Select your file" from your system. Next, set up the mapping of the file column related to the QuickBooks field. Dancing Numbers template file does this automatically; you just need to download the Dancing Number Template file.

To review your file data on the preview screen, just click on "next," which shows your file data.


What are some of the features of Dancing Numbers to be used for QuickBooks Desktop?

Dancing Numbers is SaaS-based software that is easy to integrate with any QuickBooks account. With the help of this software, you can import, export, as well as erase lists and transactions from the Company files. Also, you can simplify and automate the process using Dancing Numbers which will help in saving time and increasing efficiency and productivity. Just fill in the data in the relevant fields and apply the appropriate features and it’s done.

Furthermore, using Dancing Numbers saves a lot of your time and money which you can otherwise invest in the growth and expansion of your business. It is free from any human errors, works automatically, and has a brilliant user-friendly interface and a lot more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


Is it possible to use the Direct Connect option to sync bank transactions and other such details between Bank of America and QuickBooks?

Yes, absolutely. You can use the Direct Connect Option by enrolling for the Direct Connect service which will allow you access to the small business online banking option at bankofamerica.com. This feature allows you to share bills, payments, information, and much more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


What are the various kinds of accounts you could access in QuickBooks?

QuickBooks allows you to access almost all types of accounts, including but not limited to savings account, checking account, credit card accounts, and money market accounts.

Get Support

Bulk import, export, and deletion can be performed with simply one-click. A simplified process ensures that you will be able to focus on the core work.

Worried about losing time with an error prone software? Our error free add-on enables you to focus on your work and boost productivity.

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