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10 Cash Flow Management Best Practices for Restaurants

Lavu

No matter the size of your restaurant, one truth remains: cash flow is king. Restaurant cash flow management is the lifeblood of your business. Yet, while most small business owners know this truth, many still struggle with basic cash flow definitions, fundamentals, and management strategies that actually maximize benefits.

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How to Manage Cash Flow During Restaurant Restrictions

Restaurant365

Tracking and understanding your restaurant’s cash flow is essential, whether business is booming, or times are tough. A healthy, positive cash flow is necessary to pay your bills and grow sales. Monitoring your cash flow is more important than ever during the COVID-19 outbreak. How to calculate restaurant cash flow.

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What to know about New Jersey tip laws

7 Shifts

A modern restaurant management system can help with compliance. A tip is any money (or indicated portion of a credit card charge) a customer leaves beyond the cost of products, services, and tax. The customer must be allowed to choose the amount. The customer must be in control of who receives the money.

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Breaking Down New York State Tips Laws for Restaurant Owners

7 Shifts

These New York-specific laws include mandatory service charges, tip credits, tip pooling, and the minimum wage. Any money a customer leaves voluntarily above the ticket price (including tax) is a tip or gratuity. New York also allows employers to claim a tip credit , reducing the cash wage requirement by one-third of the minimum wage.

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21 Unique Tip Jar Ideas + Advice on Getting More Tips For Your Restaurant or Cafe

7 Shifts

They're an essential part of how people get paid in the service industry. And for those who do show up in-person at a quick-serve restaurant , they're paying in cash less than one-third of the time. Cash Tip Jar Ideas. Cash Tip Jar Ideas. Or it could be in service of fundraising for a local charity.

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Breaking Down New York State Tips Laws for Restaurant Owners

7 Shifts

These New York-specific laws include mandatory service charges, tip credits, tip pooling, and the minimum wage. Any money a customer leaves voluntarily above the ticket price (including tax) is a tip or gratuity. New York also allows employers to claim a tip credit , reducing the cash wage requirement by one-third of the minimum wage.

article thumbnail

What To Know About New Jersey Tip Laws

7 Shifts

A modern restaurant management system can help with compliance. A tip is any money (or indicated portion of a credit card charge) a customer leaves beyond the cost of products, services, and tax. The customer must be allowed to choose the amount. The customer must be in control of who receives the money.