FINANCIAL NEWS – IT’S AN ACCRUAL WORLD

Did you know BurgerBusters has a website? www.burgerbusters.com Please check it out! There is plenty of information including the latest news, events, listing of our stores, and materials that are helpful for new employees trying to get into Greenshades or setting up their paycard. Along with this, the Payroll Department has started proactively reaching out to new employees via email to assist employees on getting into Greenshades sooner. Putting down the store’s email as the employee’s email is not a good idea for privacy reasons. All employees must have a second level verification and this should be unique to the employee (phone number and / or personal email address). As a friendly reminder, Greenshades is where you can view your paystubs, W-2s, update your address, your federal or state W-4, direct deposit information, and request vacation.

In this newsletter we wanted to discuss the topic of accruals. Accruals are used in Accounting to properly match expenses in the timeframe they occur even if they have not yet been paid for. These are commonly seen on the PBA details as reversing entries. For example, if accounts payable has not received the gas bill in several months, they will book a progressive estimate until the bill comes in that way there is not a sudden increase in utility expense account on the P&L (profit and loss statement) when the bill does come in.

The Accounting Department gained a new member, Pepper Seaver who will be helping work on the additional companies and special projects. She grew up in the Virginia Beach area, but lived in the Knoxville, TN area for the last few years (GO VOLS) and then returned home just recently. She enjoys renovating houses or biking on some of the park trails. When she can, she likes to visit her family in Atlanta, GA, especially her adorable little grandson and her two grand puppies. In other news, the Accounting Department sadly said goodbye to Candice Deshields as she embarked on a new journey. She played a major role in moving the BurgerBusters planning and reporting forward. Pictured below is her going away gathering.