Seamless Onboarding with Paperchase and Son del North

Son del North is a new fast-casual Mexican spot in New York’s Lower East Side. Known for its rice-less Sonoran-style tortilla burritos, the restaurant has blown up amongst locals and influencers alike. After opening in May of 2024, their revenue has increased exponentially. May-July garnered monthly revenue of around $45K but drastically jumped to over $200K in August and September, not to mention an additional $60K a month from 3rd-party platforms. With impressive numbers like this, Paperchase’s hospitality accountants needed to overhaul the restaurant’s finances during onboarding to ensure continued successful operational processes.

Before Paperchase, Son del North was utilizing an in-house accountant, a practice that was costing them both accounting fees and financial efficiency. With Paperchase, the client received a local account handler and a back-office team for round-the-clock support, all for a fraction of the cost of working with an in-house financial operator.

The initial onboarding process for Son del North revealed inconsistencies in the restaurant’s inventory and categorization. Transactions were incorrectly categorized during reconciliation and GL line items were not organized by type. For example, all cleaning expenses for the restaurant were categorized together, rather than being split up by specific items. This led to Son del North paying unnecessary expenses across their balance sheet. Mike Moreira backs the relationship:

“Paperchase helped us adjust to high cash flow. They helped us manage third-party vendors with ease, giving us more control than an in-house accountant. The onboarding process was smooth, and we used Paperchase’s portal for easy access to all the information we needed.”

As a solution, Paperchase proposed and implemented the transition of Son del North’s financials to a cloud-based accounting program, drastically improving their books in a matter of weeks. Paperchase moved Son del North to QuickBooks Desktop, allowing for real-time transfer and categorization of data. Additionally, QB Desktop is included with Paperchase’s accounting fees, so the client saved money on software expenses. Transitioning Son del North to a cloud-based system allowed Paperchase’s hospitality accounting team to review the books more adeptly because the workflow translates directly to Paperchase’s online portal for easy access.

Once reconciliation was complete, just one month after onboarding, Paperchase began sending weekly reports of Son del North’s P&L, revealing correctly categorized GL line items and inventory. The onboarding process saved the client from siphoning costs and allowed them to take full advantage of their influx of revenue. Nearly two months later, Son del North’s COGS have drastically improved, and their financials painted an accurate picture of the status of the business. “We grew faster than we ever expected, but with that growth came a lot of financial chaos. We knew we needed help if we wanted to scale sustainably—and fast.” Mike Moreira reflects on Paperchase’s support.