Many restaurants want an outsourced accounting solution that is turnkey and operates in the background. They want a solution that runs behind the scenes and allows them to not even think about accounting unless there is a problem.
Many outsourced accounting companies offer just that – a one-size-fits-all accounting process that operates as independently from the owner as possible.
We are not one of those companies. Why?
Because in today’s market, turnkey, one-size-fits-all accounting solutions are a mistake.
A 30-unit fast-food franchise in Texas has different accounting needs than an upscale dine-in restaurant with 14 locations in New York City.
One-size-fits-all accounting services create rules and processes using predetermined software that all clients are forced into.
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Your accounting software and processes should be customized to fit your business, not the other way around.
Especially since COVID, there is no “standard restaurant”. The regulations, culture, and environment are completely different across markets and geographies.
This uniform accounting services approach lacks what’s required to address the uniqueness of different markets as well as the agility required to react to today’s constantly changing environment.
Turnkey Solutions Lack Strategy
Accounting isn’t a necessary evil that just needs to be done to pay taxes.
Accounting establishes guideposts, provides warning signs, and reveals opportunities that, without analysis, would be otherwise invisible.
These guideposts, warning signs, and opportunities are different for each restaurant. Are you able to analyze your accounting easily? Do you have systems and information from your accountant that make it easy to develop financial strategies? We see restaurants with much more operating leverage in their income statements now without the strategic tools in place to reduce it.
There are best practices and industry standards, but the strategy itself and the tactics that follow are not something that can be generalized across restaurants.
As we have said many times before, a strategic and agile accounting partner is an absolute requirement for success in today’s environment.
So, What’s the Right Solution?
Your accounting team is an invaluable asset – especially during times like these.
The answers to many of the tough decisions you are having to make are in the numbers – if you know where to look.
That is why GSS offers customized solutions tailored to your restaurant with unbundled software that we customize and you own.
[STOP] Not sure who you can trust your franchise accounting and finances to? See why you should choose GSS
Is your accounting team a strategic partner? If not, let’s talk.
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With GSS, we meet our franchisor requirements on time and with accuracy. The local CPA could not handle our volume. We are so happy to have made the change. GSS knows our business and our franchisor requirements.Multi-unit fast sandwich Owner