Fun For All Management Dishes Out Accounting to Tablespoon

November 10 2021

Fun For All Management needed an outsourced accounting partner that specialized in the restaurant industry. Since day one, Mike McRae and Gabe Nicolella outsourced their accounting. With their prior accounting firm, they didn’t have a team with experience in servicing restaurants.

According to Mike, “I had a CPA that didn’t intuitively know the business. This put a great deal of stress on my limited internal team at Fun For All Management. Amanda, our Office Manager, was doing more of the accounting than she should have,” says Mike McRae.

It was clear to business partners, Mike McRae and Gabe Nicolella, that they needed a restaurant industry-focused partner. They were introduced to Tablespoon through a referral from an existing longstanding client.

Tablespoon and Sage Intacct

Fun For All Management was running their accounting on QuickBooks, but they had familiarity with Sage Intacct, so when they were introduced to Andy Lester and his team at Tablespoon it was a no-brainer. Tablespoon hires experts that have worked in the restaurant industry. The blend of experience and Sage Intacct cloud financials was a match made in food heaven for Fun For All Management.

“Many restaurants do 13-period accounting versus 12-month accounting. QuickBooks does this, but only if your week starts on Sunday, which many restaurants don’t do because that means you must do inventories on Saturdays. Bottom-line, QuickBooks is not well set up for restaurant accounting. I had to export financial reports and create my own spreadsheets to get the reports we needed, and it was very time consuming,” says Amanda Villa, Office Manager at Fun For All Management.

Benefits of Outsourcing Your Accounting:

  • Increased reliability
  • Advice from industry experts
  • Improved productivity
  • No need to manage data and technology internally
  • Scalable technology and staff
  • More time to focus on what matters to your business

Benefits of Sage Intacct:

  • Automated critical processes
  • Reduced spreadsheet headaches
  • Greater visibility into your real-time business performance
  • Tailored to your business by configuring workflows, screens, and preferences—without the costly coding or scripting
  • Increased team productivity by allowing you to make faster decisions and drive your business forward

Measuring Outcomes

Fun For All Management runs four diverse concepts that require different management practices. While it is impossible to standardized in all areas, Tablespoon helped Fun For All Management standardize their accounting practices. Per Amanda, “Each store has servers, but the systems that are set-up won’t ‘talk’ to each other. Names and identification numbers are different due to pre-existing point-of-sale systems. Moving to Sage Intacct required analysis which resulted in streamlining the process.”

“Knowing that Tablespoon intimately knew our business was a huge differentiator to us. Years ago, we used Sage Intacct and knew its capabilities. The blend of Tablespoon’s experience and Sage Intacct’s best-in-class cloud-based platform made us extremely happy. Sage Intacct’s ability to drilldown into the data is impressive. I’m able to see my finances at a high-level and break it down to specific invoices. Knowing when and where money is spent is important to running my business,” states Mike McRae.

Tablespoon helped Fun For All Management alter their AP Process, which increased overall time savings across the organization. Sage Intacct’s open API environment allowed Fun For All Management to integrate Plate IQ to Sage Intacct. The integration gives them a real-time invoice data sync that is mapped to their chart of accounts and allows invoice data to be captured and coded.

“Tablespoon referred us to Plate IQ, which makes accounts payable data entry easier, faster, and more accurate. We scan our invoices into a pdf format and send them to Plate IQ where they read them and if there is history, they assign accounts to the expenses,” observes Amanda Villa at Fun For All Management.

Plate IQ also offers a solution for cash handling. Too many expenses were being run through the safe. Plate IQ has a system where debit cards can be used and managed. It is more secure because one time use cards can be created or bills can be set to one card that reloads just for that bill each month. Documentation is required and accountability is easier to manage. Using Plate IQ has freed up time for both the store managers, allowing them to focus on food quality and service, and Fun For All Management, providing them with the ability to review and analyze the accounts payable and food cost data.

Additional Outcomes:

  • After implementation, Fun For All Management received customized reports and dashboards at the push of a button
  • Easy electronic imports for sales and invoices
  • Plate IQ integration reduced manual data entry

With Tablespoon and Sage Intacct, Fun For All Management knows that their accounting and financial reporting is in good hands.

Advice to Anyone Considering Outsourced Accounting-as-a-Solution

“I’ve always outsourced the accounting side of my business. I’m not an accountant and I want to focus more of my time on other areas where I can add more value to the bottom-line. Choose an accounting team that knows your business, it matters,” concludes Mike McRae.

About Fun For All Management

Fun For All Management started in 1985 when Richard Chase, a movie producer, opened a fine dining restaurant. Encouraged by a local realtor, he also opened the first Dick’s Last Resort. The fine dining establishment failed, but Dick’s Last Resort has been shocking Dallas, Texas for over 35 years.

In 2010, Dick’s Last Resort was purchased by longtime executive Mike McRae, who was later joined by his partner Gabe Nicolella. With over 49 years of experience in the restaurant industry, Mike was looking for an accountant who could speak his language. Over the past 8 years, Mike and Gabe have taken over the management of multiple establishments including Dodie’s Cajun Diner in Rockwall, Stan’s Blue Note (the oldest operating bar in Dallas, Texas), and Dodie’s Cajun Diner in Allen. They also created the concept and opened Table 13, a fine dining restaurant with a 60’s “Rat Pack” vibe, in Addison, Texas. Managing concepts with diverse menus and service styles means Mike and Gabe needed an accountant who could assimilate different operating practices into a cohesive accounting system.

The restaurant business has a unique set of challenges and opportunities. The same can be said for running a restaurant’s accounting and finances. If accounting isn’t one of your core competencies, then it can be hard to work on your business while trying to work in your business. It’s important to partner with a firm that understands the restaurant business to provide the unique insights that will impact your bottom-line.

Ready to Outsource Your Accounting?

Learn more about our Managed Accounting Services from Tablespoon’s team of restaurant insiders. Let’s talk!