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Elevate Your Bar Business with Savvy Bookkeeping, Part II
Manage episode 367355127 series 3445410
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In this highly informative second of two episodes on bookkeeping, we unravel the mysteries of Profit and Loss and Cash Flow statements to help you take control of your bar's finances and make informed decisions that maximize profits.
Our host, Chris Schneider, breaks down the four sections of the Profit and Loss and Cash Flow statements. He provides tips, tricks, and ideas to make your Profit and Loss not just accurate, but also on how to ensure that it provides meaningful and actionable managerial data. Financial statements are only as good as the decisions you can make based on them.
Chris also breaks down the Cash Flow statement and why it provides a single number that may be more meaningful than any number on any other financial statement.
Tune in now to gain invaluable insights that will empower you to make the most informed financial decisions and elevate your bar business to new heights.
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Welcome to the Bar Business Podcast, the ultimate resource for bar owners looking to elevate their businesses to the next level. Our podcast is packed with valuable insights, expert advice, and inspiring stories from successful bar owners and industry professionals. Tune in to learn everything from how to craft the perfect cocktail menu to how to manage your staff effectively. Our mission is to help you thrive in the competitive bar industry and achieve your business goals.
Special thank you to our benchmarking data partner Starfish. Starfish works with your bookkeeping software by using AI to help you make smart data-driven decisions and maximize your profits while giving you benchmarking data to understand how you compare to the industry at large.
For more information on how to spend less time working in your bar and more time working on your bar:
The Bar Business Podcast Website
Schedule a Strategy Session
Chris' Book 'How to Make Top-Shelf Profits in the Bar Business'
Bar Business Nation Facebook Group
Chapters
1. Profit and Loss Statements for Bars (00:00:00)
2. Contra Income and Cost of Goods (00:12:32)
3. Understanding Income Statements and Cash Flows (00:23:05)
4. Understanding Cash Flow Statement Basics (00:32:00)
67 episodes
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