Top Restaurant Accounting Tips: Closing Out Notes Payable

Successfully closing out a period starts the domino effect for proactively operating a restaurant versus missed opportunities in the following periods. The purpose of the Period End Financial Close is accuracy verification to highlight where your money is going. This enables you to make quicker, more educated business decisions. To close out a period, begin with a review of the financial statements; The Profit & Loss Statement, The Balance Sheet, and The Cash Flow Statement. Within each statement, defined areas of focus should pop out to an operator as a must-watch for success. In this episode of The Tip Share, the RASI Education Team focuses on reviewing the Notes Payables account for accuracy prior to closing out the period. Watch the full Video: https://youtu.be/dYWQK8DpE_4 Read the full Blog Post: https://rasiusa.com/blog/top-restaurant-accounting-tips-closing-out-notes-payables/ Social Handles: RASI Instagram: https://www.instagram.com/rasinc__/ RASI Twitter: https://twitter.com/RASInc_ RASI Facebook: https://www.facebook.com/RestaurantAccountingServicesInc RASI LinkedIn: https://www.linkedin.com/company/restaurant-accounting-services-inc-rasi