CFO
Restaurant Recovery
Program

This year has been extremely challenging for the hospitality community.

As restaurant accountants and advisors, we have witnessed the direct impacts of the COVID-19 pandemic on the finances for restaurants. We have helped our clients navigate the ever-changing federal and state relief options, assess the viability of shifting business models, and provided accurate insight into their financial position and performance. We take pride in the fact that we were able to help our restaurants through the toughest times they’ve experienced. The resilience and optimism we’ve encountered amid the uncertainty and chaos have inspired us to dedicate and contribute to the recovery of the industry.

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about the program

You want accurate and timely financial reporting to inform business decisions.

RY CPAs, a DC – based accounting firm that specializes in restaurant and bar accounting, will be awarding three months of its Thrive Plan services – a value of $6k , to RAMW members in an effort to help restaurants recover from the effects of the COVID-19 pandemic.

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The goal is to help restaurants recover and make the right decisions during an essential turning point so they can prosper.

  • What is included in the Thrive Plan?
  • How the program can help
  • Is my restaurant eligible?
  • How do I apply?
  • When will the package be awarded?
  • What's the catch?
What is included in the Thrive Plan?
Setup & Onboarding

SETUP & ONBOARDING

Thrive Plan Includes:

  • QBO Conversion (if applicable)
  • Chart of Account Restructuring to be in line with the Restaurant Uniform Chart of Accounts
  • Kick – off Meeting
  • Systems Audit
  • Year to – date clean up to get an accurate balance sheet as of the start date of the engagement
Weekly Accounting & Bookkeeping on an Accrual Basis

Weekly Accounting & Bookkeeping on an Accrual Basis

Thrive Plan Includes:

  • Record and reconcile bank transactions in accounting ledger
  • Record and reconcile credit card transactions in accounting ledger
  • Record invoices; record deposits and reconcile with invoices or POS
  • Record bills; record bill payments and reconcile with bills
  • Reconcile sales with POS
  • Record and track prepaid and accrued expenses
  • Record and reconcile payroll with payroll system and reports
  • Record and reconcile inventory
Weekly Accounts Payable

Weekly Accounts Payable

Thrive Plan Includes:

  • Reconcile unpaid bills with vendor statements
  • Address discrepancies between amounts charged by vendors and bills provided by the restaurant
Weekly administration

Weekly administration

Thrive Plan Includes:

  • Document collection, organization, naming, and filing
Weekly/Biweekly Prime Cost Trend Analysis

Weekly/Biweekly Prime Cost Trend Analysis

Thrive Plan Includes:

  • Prime cost trend analysis providing real-time insight over your food and labor costs
Monthly

Monthly

Thrive Plan Includes:

  • Profit & Loss
  • Balance Sheet
  • Sales tax calculation & filing
Quarterly Federal & State estimated tax payment management

Quarterly Federal & State estimated tax payment management

Thrive Plan Includes:

  • Calculate and remit your quarterly estimated tax payments
How the program can help

How the program can help

  • Reduce your operating costs
  • Free up your time so you can focus on recovery and growth
  • Provide financial oversight
  • Plan for the future
Is my restaurant eligible?

Is my restaurant eligible?

To qualify, you must:

  • Be a member of the Restaurant Association Metropolitan Washington (RAMW)
  • Be open for business
  • Not be an existing customer of RY CPAs
  • Have 5+ employees
  • Be committed to working with us and be willing to provide all the information we need to take over your books
How do I apply?
When will the package be awarded?

When will the package be awarded?

All submitted applications will be reviewed on a first-come, first-served basis.

Recipients will be chosen each week until the firm is at capacity.

Work will begin immediately or any time before December 31, 2020 at your discretion.

What's the catch?

What's the catch?

We want to help bring the industry back to life and we’re confident that you will will want to build a long-term working relationship with us. There is no commitment and you can leave as you wish.

GET STARTED TO RECOVERY!

Getting Restaurants & Bars Back On Their Feet!

Many restaurants that fail do so because of inadequate financial controls and insight into their numbers. As a result of the pandemic, it has never been more imperative to have visibility over your numbers. We are committed to getting restaurants and bars back on their feet by providing complimentary insight over their financials and lifting the burden of bookkeeping, accounting, and payroll.

What Customers Are Saying

“Raffi and his team were quite responsive and their restaurant operations knowledge were crucial to helping us manage our business”

– Kirk Spare, Director of Operations, Taco Bamba

"RY CPAs has sorted out my biggest nightmare in only 90 days. Since I opened my food truck, restaurant, and catering company we have gone through 3 other firms in 4 years. Nothing ever balanced or made sense, trying to get data to understand my business was like pulling teeth, and people I paid a very large sum of money were completely incapable of the work RY Tax & Accounting has done for me a such a reasonable price"

– Louie Hankins, Owner, Rito Loco & El Techo

"I've used Raffi and the team at RY CPA for years. I can't imagine having anyone else handle my books. I trust their team to handle my accounting needs and have full confidence they always have my best interest in mind."

– Donnie Simpson Jr, Owner, Uprising Muffins
"Their organization & attentiveness during COVID was very impressive. Every question I had, RY CPAs had an answer plus a strategy."
– Michael Rafidi, Owner, Albi

Please fill out the form below to get started to recovery!

CERTIFICATIONS & MEMBERSHIPS