SONIC DRIVE-IN



SONIC DRIVE-IN

EXPLANATION OF CHART OF ACCOUNTS

41191 FOOD SALES

Total food sales, at regular menu price, including coupon sales and all county, city and state taxes reflected by the daily sales report.

41270 DISCOUNTS AND COUPONS

Include discounts from menu price for specials, combo deals, family night, Thirsty Thursday, etc. and all coupons redeemed at retail value.

41920 OTHER SALES

All other income derived in the normal course of business such as sale or promotional items, such as glasses, mugs, etc.

51160 FOOD COSTS

All meat, bakery, dairy, produce, coffee, CO-2, and other food items. Food and beverage rebates should be credited to this account.

51990 PAPER GOODS

All items used in serving of food such as cups, sandwich and other bags, Dot-It-Labels, napkins, lids, straws, to-go boxes, POS printer paper, etc.

70540 CREW LABOR

All regular employee wages that have a social security deduction.

70550 CREW LABOR

All overtime employee wages that have a social security deduction.

70620 MANAGER SALARY

Non-partner manager wages that have social security/withholding deductions.

70780 PARTNER SALARY

Base wage payments to partner manager. No social security or withholding should be deducted on partner salary.

72111 PAYROLL TAXES

The employer’s portion of FICA Tax (social security) and State and Federal Unemployment Taxes. Entries to this account are made by your Accounting Service. Actual payments of these taxes should go to Acct No. 21130 – FICA payable for FICA tax and Acct No. 21470 – Accrued State Unemployment taxes and Acct No. 21560 – Accrued Federal Unemployment.

72112 WORKERS COMPENSATION INSURANCE

The workers compensation premiums are normally paid annually. When paid, these premiums should be charged to Acct No. 13541 – Prepaid Insurance. Your Accounting Service will create entries to amortize the premium monthly.

72113 EMPLOYEE HEALTH INSURANCE

Employee/manager health insurance premiums are charged to this account.

72114 PARTNER HEALTH INSURANCE

Partner health insurance premiums are charged to this account.

72291 LOCAL ADVERTISING – PROMOTIONAL

1. Sonic balloons, key chains, pencils, pens, etc.

2. Sonic marketing coupons, i.e. $1.99 burger, fries, drink combo

3. Payments and/or contributions to school groups (including annual ads) and other groups or organizations that will result in bettering the image of the Sonic.

4. DSG Mystery Shop program

5. Marketshare – Birthday program

72293 MEDIA

Actual cost to run newspaper ads, radio, help-wanted ads.

72294 LOCAL ADVERTISING – CO-OP FEES

Contributions made to local advertising co-op for the purpose of pooling area advertising funds.

72295 PREMIUMS

Items purchased which are sold with food products for promotions i.e. Wacky Pack toys.

72350 CREDIT CARD CHARGES

Fees and discounts charged by the credit card companies. Your accounting service will record these from the bank statement.

72371 CASH SHORT AND LONG

Cash short or long as reflected by the Daily Report and any short or long from the bank reconciliation.

72372 BAD CHECKS

Reflects net uncollected “hot” checks received as well as funds received from check recovery.

72373 BANK CHARGES

1. Service charges

2. Night deposit charges

3. Overdraft charges

4. Stop payment fees collected from employee

72400 SALES TAX DISCOUNTS

Discount allowed by the state for timely paying sales tax. Your accounting service will record this.

72520 UNIFORMS AND LAUNDRY

1. Laundry Service

2. Cleaning of Uniforms

3. Uniform replacement

4. Roller Skates

5. Jackets

6. Carhop Aprons

7. Name Tags

8. Award Pins

72861 REPAIRS AND MAINTENANCE – BUILDING AND GROUNDS

All parts and outside labor for repairing and maintaining building, restroom fixtures, wash sinks, water heater, air conditioners, canopies, neon, neon window signs, light bulbs. Also includes lawn service, snow removal, sprinkler system maintenance, and marquee repair.

72862 REPAIRS AND MAINTENANCE – EQUIPMENT

All parts and outside labor for repairing and maintaining all equipment. Equipment includes menu housings, speaker system, compressors, walk-in units, ice cream machine, drink machine, slush machine, etc.

72863 REPAIRS AND MAINTENANCE – POS

All parts and outside labor for repairing and maintaining all POS quipment. POS Equipment includes POS keyboard overlays, service billings for upkeep of POS, anything related to the POS equipment.

72941 JANITORIAL AND CLEANING SUPPLIES

All cleaning and janitorial supplies such as paper towels, toilet paper, hand soap, laundry soap, mops, brooms, lot cleaner, filter pads, etc.

72942 OFFICE SUPPLIES

All office supplies such as stamps, accounting forms, turn-in sheets, employment applications, time cards, adding machine paper, fax machine paper, rubber bands, first aid kit supplies, etc.

72943 SMALLWARES

Includes purchase of any small equipment under $500 i.e. spatulas, tongs, thermometers, slush pumps/bottles, red curb trays, knives, etc.

73102 UTILITIES

This account includes charges for gas, electricity, and water service.

73932 SECURITY SERVICE

This account includes crime control expenses such as security guard and monitoring services such as Sentry Security Systems.

73935 TRAVEL

This account includes travel expenses for the manager for seminars, convention, etc. Also for travel expense for relief workers, mileage for business use of a vehicle, etc. Expenses should be well documented with receipts and explanations of business purposes for IRS purposes. This account will also be used for employee meetings, Christmas parties, etc.

73938 FREIGHT

All charges for transporting merchandise, supplies, etc. to or from your place of business.

73951 TELEPHONE

Phone bills

73952 TRASH

This account includes charges for trash service.

74012 TRAINING EXPENSE

This account includes training expenses such as Sonic School, Serve Safe Classes, training manuals (including Star Program).

75000 NATIONAL AD FEE

The National Ad Fee which is payable by all stores is charged to this account. (These funds are used to defray the cost of producing commercials and other promotional material.)

75260 ROYALTY

All royalty fees are charged to this account.

75341 DEPRECIATION

Entries to this account are made by your Accounting Service.

75342 LEASEHOLD AMORTIZATION

Entries to this account are made by your Accounting Service.

75343 FRANCHISE FEE AMORTIZATION

Entries to this account are made by your Accounting Service.

75346 ORGANIZATIONAL AMORTIZATION

Entries to this account are made by your Accounting Service.

75590 INSURANCE – BUILDING AND EQUIPMENT

Amortization of the multi-peril insurance premium is charged to this account. This amortization entry will be made by your accounting service.

75751 RENT EXPENSE – BUILDING AND LAND

Rent paid for use of Sonic building and land. This includes the monthly base rent only.

75752 RENT EXPENSE – SONIC SIGN

The payment for the Sonic Sign is the only items to be charged to this account.

75753 RENT EXPENSE – EQUIPMENT

This account includes rent for use of any equipment including portable signs, ice machines, Muzak, helium tank. Equipment note payments are not charged to this account.

75754 RENT EXPENSE – BONUS RENT

This account includes percentage bonus rent, if applicable.

75831 TAXES – REAL, PERSONAL AND OTHER PROPERTY

This account includes city, county, school, etc. taxes on both the Sonic building and land as well as equipment. Monthly entries to this account are made by your Accounting Service. When paying for real and personal property taxes, charge Acct No. 22790 – Accrued Property Taxes.

76250 INTEREST EXPENSE

All interest expense on funds borrowed. Generally, the interest portion of the monthly note payment is the major expense in this category.

76300 LEGAL

This account includes any legal expense i.e. partnership agreements.

76351 LICENSE, PERMITS, DUES

1. All licenses or permits required to conduct business such as store license, merchant license, dairy license, etc.

2. Dues to all organizations (Chamber of Commerce, Restaurant Assn. Etc.)

76380 THEFT LOSS

This account includes any shortages directly related to theft.

76411 MISCELLANEOUS

This account should not be used if possible.

76412 ACCOUNTING

This account includes the monthly accounting fees paid to your Accounting Service.

76413 MANAGEMENT FEES

This account includes the monthly accounting fees paid to your local payroll/accounts payable office.

77080 MANAGER BONUS

This account includes manager and assistant manager bonuses.

80031 OTHER INCOME – MISCELLANEOUS

All other income not derived in the normal course of business.

80032 INTEREST INCOME

Interest income received from bank accounts and savings accounts.

80038 PROCEEDS OF SALE OF FIXED ASSETS

Income derived from the sale of fixed assets.

80061 INSURANCE PROCEEDS

Insurance proceeds that will not be offset by repairs.

81282 LIFE INSURANCE

Non-deductible life insurance premiums are charged to this account.

81283 SUPERVISOR EXPENSE

This account includes Supervisor expense, if applicable, such as a bonus.

81286 LOSS ON SALE OF FIXED ASSETS

This account will be expense relating to fixed assets, which are sold at an amount less than the cost basis of the asset.

81350 EXPENSE DEDUCTION – PROPERTY

Write-off of fixed asset cost. Taxpayer elects to do this tax write-off instead of capitalizing and depreciating the asset.

10407 GIFT CERTIFICATES—BUYING AND SELLING

This account is used for buying the gift certificates from Venture Marketing or selling them to the customer. This does not include MYSonic card sales or redemptions.

14463 EQUIPMENT PURCHASES

This is for the purchase of any equipment over $500 such as Grills, Fryolators, Steamers, Ice Cream Machine, Slush Machines, Computers, etc. Before discarding junk equipment, please advise your accountant. A credit may be due.

14465 LEASEHOLD IMPROVEMENTS

This account is for the purchase of upgrades to the building or grounds such as driveway repairs, entryway replacements, floor replacements, and roof replacements, not repairs.

20508 MY SONIC CARD ACTIVATIONS/SALES

This account is used to code activations and redemptions of MYSonic cards.

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