Chapter One

About This Book

QuickBooks for the Restaurant is a step-by-step guide written expressly for current and future food and beverage operators. It provides detailed instructions and immediate application of various QuickBooks functions. The book guides the reader through a series of activities, including setup of a restaurant's company file in QuickBooks; daily business transactions for a restaurant, including purchases, payables, sales, receivables, and payroll; and the preparation of financial statements. Practical, realistic, industry-specific scenarios are used throughout this book to reinforce the reader's understanding and application of the topics covered. Each chapter provides chapter objectives, step-by-step instructions, and end-of-chapter practice problems. Helpful Tips, QuickBooks Tips, Accounting Tips, and Food and Beverage Industry Facts are also included in many chapters. The practice problems reinforce concepts covered in each chapter. A comprehensive project, simulating one month of financial activity of a restaurant, is included at the end of the book. This project supports the key skills and concepts in the text. Individuals using this text should have a basic business background as well as an understanding of basic accounting concepts. Computer skills are also needed in order to achieve an optimal learning experience from the topics covered in the text. This text reinforces previously learned accounting principles and financial statement analysis while exposing the learner to one of the most widely used accounting applications on the market today. Special emphasis has been placed on critical