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How Top-Notch Bookkeeping Can Help Your Food Truck Business

    Published June 13, 2024

    So, you’ve recently had the best taco of your life from a food truck, and now you’re wondering what it takes to run your own? Or maybe you already have one, but it feels more complicated than it should. Regardless, since the food truck industry has an estimated annual revenue of $2.7 billion in the US, it’s easy to see why everyone is gearing up to take to the streets.

    Aspiring food entrepreneurs often find that starting a brick-and-mortar restaurant is financially out of the question. Despite the decreased demand for physical storefronts, the expenses tied to rent and security deposits in urban areas remain steep, even before factoring in the costs of branding the space. While not everyone can afford these high initial costs, starting a food truck business can be a more viable option. While there is a lot you’re going to need to consider, keeping organized is the best way to set yourself up for success. In this instance, we’re talking about bookkeeping.

    Getting the Books Started

    It’s important to have tailored financial management solutions designed specifically for food businesses and, more importantly, your business. Utilizing expert guidance, you can streamline your accounting processes, track expenses, optimize profits, and provide valuable insights to help your food business succeed. Whether you’re an experienced food entrepreneur or just starting, it’s not a bad idea to lock down a little support for your financial journey— helping you to achieve higher profitability.

    How Can Better Bookkeeping Help My Business

    Using programs like QuickBooks Online, a cloud-based technology, allows you to access and review your books anytime and anywhere with an internet connection. This ensures you have immediate, up-to-date financial information at your fingertips. This will help you with tasks such as:

    • Making sure you are always ready for tax time
    • Tracking bank account status
    • Bank reconciliation
    • Daily sales reporting
    • Management reports
    • Paying your bills
    • Processing payroll
    • POS (point of sale) integration
    • Sales tax tracking & filing
    • Tracking your money

    We can help you stay organized which keeps you on the road, not in the office worrying about things like taxes. Stop the headaches that come with lackluster bookkeeping and focus on catering to your customers. Let us handle the paperwork so you can focus on serving delicious food. With our expertise in food truck finances, we’ll meet you where you are and help streamline your operations

    Contributor: Tony Bostian