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    3 Replies Latest reply on Apr 18, 2008 12:45 PM by AFBBIZ

    Real financial information of like businesses - Budgeting

    DavidE123 Newbie
      I would like to see real financial information of other bars/ restaurants for bugeting purposes.
        • Re: Real financial information of like businesses - Budgeting
          Lighthouse24 Ranger
          Most cities have a local bar/tavern owners association, and at least one restaurant owners association (some have several). These trade associations can provide you with good data. Another great source is bar and restaurant suppliers (bottlers, distributors, fixture wholesalers, wholesale/institutional food sales reps, etc.). Hope this helps. Best wishes.
          • Re: Real financial information of like businesses - Budgeting
            LUCKIEST Guide
            123, Welcome to this web site. Tell us more.
            Would like to see real financial information of other bars/ restaurants for budgeting purposes.
            WHY and for what City??
            Suggestion: Go to Members page and add a few words about your business.
            LUCKIEST
            • Re: Real financial information of like businesses - Budgeting
              AFBBIZ Wayfarer
              David,

              One suggestion. What accounting software are you currently using? QuickBooks Premier and/or Point of Sale (for retail businesses) have sample businesses in them already set up to emulate. Premier is set up for industry specific businesses. Through the setup interview, you can select the industry of your business, and the software will create your chart of accounts for you. That chart of accounts acts as a guide for your budgeting. These software applications also have tutorials in them guiding the user through performing different tasks in accounting. The Premier also has a budgeting feature in it for actually creating your P&L budget. These features are far more valuable than an actual business budget to follow. You will have your own set of customers and revenue and expense targets. It is best that you begin at the detail account level in setting up your own budget targets rather than attempting to use another business. Real life business budgets are fine for examples, but it is nothing like the bare knuckle effort of creating your own with the use of the tools found in QuickBooks

              Putting the numbers to your budget depends on a number of factors:

              1. Type of business
              2. Size of business
              3. Product offereings
              4. Pricing for your products
              5. Cost of goods sold

              QuickBooks Premier and the corresponding POS application is able to handle these items without a problem.

              Floyd - AFBBIZ