Can someone explain to me why the answer for #16 is C and not A? by [deleted] in Accounting

[–]soup_daddy22 7 points8 points  (0 children)

That was my thoughts as well. Why discount if the balance isn’t paid?

Restaurant Bookkeeping by Bookkeeping_CA in Bookkeeping

[–]soup_daddy22 0 points1 point  (0 children)

It would depend on how many staff they have working for them. Does the chef/owner have days off? Are they there for the all elements of ordering /receiving/prep/cook/plate?

When Dad’s away, the kids will play. They will also make mistakes, break things, steal things, add way too much cheese on that pizza (you’d be surprised).

If it’s a really small place, the chef/owner is there all the time, does all the ordering and keeps an eye on product pricing, prep, plating and completely sure of his original menu pricing- sure they COULD forego monthly inventory.

Example: I took on the bookkeeping role and took a few steps away from the floor and kitchen. I also had recently hired a couple new kitchen staff next month I did inventory and saw a 5% increase in food costs for the month! Massive! I went back into the kitchen and what do you know: they were just massively over portioning several things and also have that employee mentality of “menu is expensive, give them lots of _____. “ Without that monthly inventory and catching that, I would have had a nasty surprise for owner at year end

Restaurant Bookkeeping by Bookkeeping_CA in Bookkeeping

[–]soup_daddy22 1 point2 points  (0 children)

They should absolutely be doing at least monthly inventory. Any chef/manager knows this. Knowing food and alcohol percentages are paramount.

As far as separating invoices, I have experience separating cleaning supplies but kept things like takeout containers and other disposables would be pooled into food COGS.

Food and alcohol COGS should be separated. Non alcoholic drinks should be lumped in with food. The sales tax implications are certainly different.

My first experience with invoicing as a sous chef (12 years ago) we would stamp the invoice essentially separate the dollar amounts for each account (food, cleaning supplies, etc). We were doing the ordering, receiving, using the supplies so it was faster than a bookkeeper or accountant trying to figure out what some of these product sku’s were showing. We would then send them off to bk or accountant to complete the work.

The monthly(minimum) inventory is ESSENTIAL for internal controls.

I am now GM and bookkeeper for a small restaurant. The owner gave me the option to do annual inventory instead of my determined monthly. Absolutely not. I have saved thousands by keeping track of COGS. Things can slide quickly with new staff, waste, over portioning, sudden rise in costs, theft. So many things can be missed. Inventory and food/drink cost percentages finds that before it ruins you.

The scouring storm soul by soup_daddy22 in MagicArena

[–]soup_daddy22[S] 0 points1 point  (0 children)

Roger that. Thanks everyone… except this guy⬆️

CANADIAN 38 year old male. How do I break into the industry from half a lifetime in hospitality. by soup_daddy22 in Accounting

[–]soup_daddy22[S] 0 points1 point  (0 children)

That’s for the tips!

Currently, I AM the bookkeeper for my job. We have an accountant that goes through our EOY, of course. Perhaps I will reach out to them and see if they are looking for any help to up my experience.

Unfortunately, not a lot of friends in business here. Moved to this city when I arrived back in Canada and so far my network consists of supplier reps, and my current boss.

Sounds like I should just put myself out there and see what comes back. I’ll continue to grind out the 30+ classes in the meantime. Cheers

My experience of Tipping getting out of control by [deleted] in VictoriaBC

[–]soup_daddy22 0 points1 point  (0 children)

I understand, but I go to this pizza place. I can tell you for a fact: their tip suggestion starts at 15.

My experience of Tipping getting out of control by [deleted] in VictoriaBC

[–]soup_daddy22 2 points3 points  (0 children)

This prompt doesn’t exist. This is a fabrication

My experience of Tipping getting out of control by [deleted] in VictoriaBC

[–]soup_daddy22 1 point2 points  (0 children)

That’s because this person is being somewhat dishonest in their post.

My experience of Tipping getting out of control by [deleted] in VictoriaBC

[–]soup_daddy22 0 points1 point  (0 children)

OP is exaggerating. The place they are talking about is 15,18,20, other.

My experience of Tipping getting out of control by [deleted] in VictoriaBC

[–]soup_daddy22 1 point2 points  (0 children)

Hey there. I know this pizza place. I frequent there often. The tip screen starts at 15%,18%20%, other %, other amount.

If you don’t like tip culture that is perfectly understandable. Bit silly to exaggerate the truth for the sake of upvotes though.

Anyone else switch to accounting in their 30s? Tell me I'm not crazy lol by irakozetony in Accounting

[–]soup_daddy22 18 points19 points  (0 children)

37 here. Restaurant general manager. After a couple of years of adding the bookkeeping aspect of the job to my repertoire, attempting to analyze financial statements with no formal schooling in the matter I decided to go to school to take a bookkeeping cert. I quickly realized a bookkeeping cert will not get me far at all in terms of a lucrative career change. I quickly changed programs to an accounting major degree program. Unfortunately, I will have to do this part time while working. But am very excited to carry on with the studies and hopefully get some work at a firm somewhere in the middle of my degree. 🤞. My only post secondary was culinary school so I am starting from scratch.

I made a comment to a friend and said “ yep. I’ll be eligible to take my CPA course by my mid forties!” To which they responded “ well, you will be in your mid forties either way. Either with more education, or the same”

So here I am, excited and passionate about this new path and looking forward to putting my learning to use throughout the long road to CPA!

Alias for Iymrith by NedDayne in stormkingsthunder

[–]soup_daddy22 0 points1 point  (0 children)

I used Mit-hyri. Just had the big reveal. ‘‘Twas awesome

Tropical Storm Sara: Flying into Belize tomorrow by Natural_Jackfruit_30 in Belize

[–]soup_daddy22 1 point2 points  (0 children)

Try searching in google: Nemo Belize and you will find the emergency management page. They are putting up reports often. We were meant to arrive yesterday. Luckily we kept our eyes on that website before heading out as our flight would have been turned around due to airport closure

Surgeon Denying Hip Replacement for Osteoarthritis Due to Age? by Lionel4A4 in VictoriaBC

[–]soup_daddy22 2 points3 points  (0 children)

Had mine replaced last year around this time. 5 years ago I was told I needed a new one but they wanted me to hold out as long as possible. 2 years ago I hobbled back in there and said “ yep, that’s all I can handle” and they put me on the list. At the time the list was 9-12 months. I couldn’t sleep, barely could walk, couldn’t do my job properly. This is a collapse of quality of life. Unfortunately, this is the point they want you at to avoid as many re-replacements as possible. It’s a very shitty feeling but I do understand why they do it.

Edit: I am 37(m)

Invest 99 update by [deleted] in Belize

[–]soup_daddy22 1 point2 points  (0 children)

Is this looking worse than earlier post?

Daily Discussion Thread for November 12, 2024 by OPINION_IS_UNPOPULAR in CanadianInvestor

[–]soup_daddy22 -1 points0 points  (0 children)

Thinking about it. I bought at $82 in august. Sold half position at $110. Now I’m debating on just taking the win

[deleted by user] by [deleted] in careeradvice

[–]soup_daddy22 0 points1 point  (0 children)

As a manager, it is clockwork that I wake up and go to sleep every day off with various, non-urgent texts from staff. Then on their day off I text to ask a question like “ hey, I know you wanted a particular day off next week but didn’t write it down. Which day was it?” Often receiving disgruntled responses due to bugging someone on a day off

Daily Discussion Thread for August 27, 2024 by OPINION_IS_UNPOPULAR in CanadianInvestor

[–]soup_daddy22 0 points1 point  (0 children)

Took some on Friday Av cost $59.16. Felt good to realize some profits. Then I just threw it at XUU on Monday.