A clean finish to prepare for next year

Closing out the year gives restaurant owners an opportunity to make sure their financial records are complete, accurate, and ready to use.

In this episode of No Reservations, Kasey Anton walks through the Restaurant Year End Financial Checklist, from reconciling accounts and reviewing payroll to accounting for outstanding vendor bills.

Then, Kasey explains how to turn your completed year-end financials into a planning tool for the year ahead. Your restaurant’s monthly P&L can help you establish realistic sales expectations, set food and beverage budgets, plan labor, and make better financial decisions throughout the coming year.

✅ You’ll learn:

✅ Which accounts should be included on your balance sheet
✅ Why every bank account, credit card, loan, and line of credit needs to be reconciled
✅ How to make sure payroll matches your quarterly 941s and annual 940
✅ Why outstanding vendor bills need to be accounted for at year end
✅ How cash and accrual accounting affect restaurant financials
✅ What to consider before making purchases to reduce taxable profit
✅ How to use your monthly P&L to plan next year’s budgets

🧠 Action steps to try this week

  • Confirm that every business account appears on your balance sheet
  • Make sure all accounts are fully reconciled
  • Review payroll against your quarterly and annual federal reports
  • Check for outstanding vendor bills that still need to be entered
  • Run your P&L by month with percentages
  • Use those numbers to begin setting monthly food, beverage, and labor budgets for next year

Go deeper with Kasey’s tools