Pacific Accounting & Financial, Inc

Attention restaurant owners, managers, and food entrepreneurs!! Looking for a top-notch accounting team to help you gain an edge on the competition? Pacific Accounting and Financial (PAFI) is the perfect accounting firm for you. We offer full-service accounting & bookkeeping that is easy to understand and is guaranteed to help you and your company reach your goals, thrive, and prosper. We invite you to like our page and head on over to our website for more information on how we can help you optimize your business.

Welcome to 2019! This year, take a moment to look at your financials for last year, is your accounting firm guiding you on the best ways to save money, or how to change your numbers so you are more profitable? As minimum wage continues to rise, you should have a partner by your side consulting you on how to make changes that will impact your bottom line. Give us a call and see if we might be a good fit for your restaurant.

GREAT NEWS! Finally California Businesses get some relief! Every January 31st for the past 5 years we have seen a payment for the FUTA Reduction credit - this was due to California having taken Unemployment loans from the government and we were paying it back. Well, you don't have to worry about that nasty tax this year! Depending on how many employees you had, it was a pretty costly tax, so rest easy knowing you don't have to worry about it!!

January is right around the corner - are you ready for the minimum wage increase? Minimum wage will go up to $12.00/hr starting January 1, 2019 - this means that on January 1 you should update your POS system with the new wage for those that are currently lower than this rate. If you are OUTSIDE the boundaries of San Diego County, AND you have 25 or fewer employees, your minimum wage will go to $11/hr. Further, the minimum salary will increase to $49,920 so make sure you are compliant. See us for more details and how we can ensure you are compliant.

For every 1 hour a minimum wage person works, you should be bringing in at least $45 of sales to ensure you meet a 25% labor goal. So, look at your average tickets per hour, and break out the calculator!

Did you adjust your sales tax rate? California wide sales tax DECREASED for the first time in many years, so make sure you adjust down .25% on your sales no matter where you are.

Do you have your vendors on auto pay? If you don’t have an accountant watching the credits and ensuring the vendors are applying them, you could have a lot of funds out there owed to you!

If you aren’t aware of the numbers, you could be throwing money away by overstaffing.

Is your restaurant sourcing expenses appropriately? It's time to find out!

Check out our blog for tips & tricks to help your business save money!

Nationwide salary increases are right around the corner! Are you ready? We can help.

Stop wasting money! Let us help & give us a call today.