Harbor Touch

MARCH 18, 2025

Ive seen audits flag too-generous pay compared to industry norms. Ive tossed meals into inventory totals and shaved taxes that way. Beverages: water, soda, liquor. Ask your accountant if Section 179 fits leases, too. Compensation: Balance Pay and Deductions Wages and benefits for your team are deductible. Keep it reasonable.

Point of Sale 138

Point of Sale POS Restaurant Law Equipment 138

7 Shifts

AUGUST 18, 2024

For example, though food costs are running costs, you should budget for beginning inventory when opening your restaurant Many of your startup costs will be one-off costs, though some are subject to annual renewals Restaurant Expenses Vs. Restaurant Costs One often confused (and misused) sets of terms are restaurant costs and restaurant expenses.

License 370

License Equipment POS Food Supply 370

Lavu

MARCH 17, 2025

Leverage POS Systems : Tools like Lavu POS automate inventory tracking, reduce order errors, and provide real-time insights. Start by tracking inventory, analyzing menu performance, and negotiating with suppliers to cut costs and boost profits. Log spoilage through inventory adjustments. Whole Wheat Bun $0.30 Avocado(1/4) $1.20

Food 78

Food Waste Seasonal Menu Inventory 78

7 Shifts

MAY 1, 2024

For instance, you can record your food and beverage sales separately. They speed up your vouching process and help clear up any inconsistencies that could arise during the auditing process. One way to reconcile your accounts is by comparing your physical inventory with your inventory records.

Cash Management 221

Cash Management Employee Relations Inventory Beverage 221

Restaurant365

APRIL 14, 2020

Successful restaurant operations, in any kind of economy, depend on well-managed restaurant food inventory. Much of the typical food and beverage inventory in restaurants tends to have a relatively short shelf life, making accurate inventory numbers essential to run a functioning kitchen, make economical orders, and adapt to long-term trends.

Inventory 109

Inventory Delivery Management Management 109

Tableo

JULY 18, 2023

Restaurant inventory management is a process for identifying more cost-effective food, beverage and supply orders while keeping track of the materials and supplies you have on hand for shifts. Use inventory management software to track inventory levels and provide reports.

Inventory 75

Inventory Management Management Audits 75

Paper Chase Accountancy

MAY 30, 2025

IRS Audits: Inaccurate or incomplete records can trigger costly and time-consuming IRS audits, leading to significant penalties and fines. General bookkeeping typically doesn’t contend with such high volumes of small transactions or the rapid spoilage of inventory. Adjust COGS based on actual inventory consumed.

Bar 52

Bar Cash Management Point of Sale Back of House 52

Hot Schedules

OCTOBER 5, 2021

F ood and beverage suppliers play a key role in the success of your restaurant. Like any new relationship, the beginning can be harmonious and productive, but it takes constant effort to ensure your food and beverage suppliers remain Grade-A. Make Sure Your Food Suppliers are Grade-A. b3lineicon|b3icon-computer-rocket|?|Computer

Food Supply 137

Food Supply Food Mobile Ordering Hotels 137

Bar and Restaurant Coach

NOVEMBER 8, 2019

Often when we think of liquor inventory control, our minds go to behind the bar. To take it one step further, the default-mode for most bar and restaurant operators is to attribute inventory loss to staff. Liquor Inventory Control Starts at the Backdoor. anything that has a financial or inventory element. instant replay!

Inventory 79

Inventory Coaching Audits Bar 79

Lavu

JUNE 13, 2025

This can be done through surveys or focus groups, which will help in determining the types of food and beverages to offer. It offers features like inventory management, employee management, and reporting, which can be beneficial for corporate cafeterias. What are the first steps in how to open a corporate cafeteria?

2025 78

2025 Dietary Restrictions Kitchen Safety License 78

Modern Restaurant Management

JANUARY 8, 2024

– Lars Kristiansen , VP Food and Beverage of Oasis Marinas Next year, although getting better, I anticipate continued labor shortages to persist, impacting management, the kitchen and front of house. Lars recognizes the importance of convenience in the restaurant industry, but believes that elevated experience is key.

2024 539

2024 Loyalty Program Cash Management Customer Experience 539

Lavu

NOVEMBER 17, 2023

This low profit margin can be attributed to the high overhead costs associated with running a restaurant, including rent, labor, food and beverage costs, and utilities, often account for a major chunk of your expenses, making it challenging to increase your restaurant profit margin. 3 Ways to Improve Your Restaurant Profit Margins 1.

Fast Casual 138

Fast Casual Food Truck Fine Dining Loyalty Program 138

The Rail

MAY 23, 2024

You can start taking steps to reduce commercial waste by: Waste Audits : Regular audits will track your waste and help you identify potential areas for improvement. Audits ensure that the waste you produce ends up in the right recycling bins and is being repurposed whenever possible. Colorado The Alaskan Brewing Co.,

Sustainability 130

Sustainability Brewery Vineyard Audits 130

Modern Restaurant Management

MAY 7, 2021

“Our guests continue to demand access to truly healthy and delicious food and beverage products are served with smiles and speed." “We continue to innovate and rethink how consumers enjoy Coca-Cola beverages.

Franchise 433

Franchise Franchising Sustainability Fast Casual 433

Paper Chase Accountancy

MAY 30, 2025

Financial accounting in hospitality can reveal inefficiencies in inventory management, for example, leading to a more judicious use of resources. Inconsistencies or errors can lead to audits. Restaurants primarily focus on food and beverage sales, simplifying their accounting process.

Hotels 52

Hotels Hospitality Cash Management Restaurant Law 52

Apicbase

AUGUST 29, 2024

For multi-site food and beverage businesses, maintaining operational excellence across all locations can be daunting. In this article, we explore the benefits of centralising inventory, optimising menu design, standardising staff training, and more. What Is Food and Beverage Management?

Beverage 52

Beverage Operations Management Management 52

Paper Chase Accountancy

JUNE 16, 2025

To effectively manage the prime cost ratio, consider these strategies: Regularly track food and beverage costs. Implement effective inventory management. Audit Support: They keep records that can support business audits, helping to validate calculated ratios. Monitor labor costs, including wages, benefits, and taxes.

Hotels 52

Hotels Hospitality Cash Management Restaurant Law 52

Paper Chase Accountancy

JUNE 16, 2025

To effectively manage the prime cost ratio, consider these strategies: Regularly track food and beverage costs. Implement effective inventory management. Audit Support: They keep records that can support business audits, helping to validate calculated ratios. Monitor labor costs, including wages, benefits, and taxes.

Hotels 52

Hotels Hospitality Cash Management Restaurant Law 52

Restaurant365

NOVEMBER 30, 2021

No matter what laws your restaurant group falls under, it is beneficial to prioritize recordkeeping and audit trails to demonstrate compliance with labor and pay regulations. With payroll software, you can have access to a full audit trail with information stored in a secure database. Conclusion. Ask for a demo of Restaurant365.

Restaurant Law 146

Restaurant Law Audits Point of Sale Insurance 146

Paper Chase Accountancy

MAY 21, 2025

They require specialized support that understands the intricacies of fluctuating revenues, high labor costs, and complex inventory management. Complex Tax Regulations: The industry faces specific tax considerations related to food and beverage sales, lodging taxes, and tip income, demanding expert knowledge for compliance.

Hospitality 52

Hospitality Sustainability Cash Management Hotels 52

Bar and Restaurant Coach

SEPTEMBER 13, 2019

A handful of viewers who watch these “save my store” shows will be able to see through the drama-soaked episodes and learn from a common thread: That most businesses in the hospitality industry run into trouble when they don’t focus on (to name a few): liquor inventory control. staff & management training and responsibilities.

Bar 77

Bar Audits Coaching Inventory 77

Restaurant365

DECEMBER 10, 2021

Payroll compliance is required to avoid hefty fines and regulatory audits. In addition, R365 cloud-based, restaurant management suite includes scheduling software, restaurant inventory management software , and restaurant operations software to create an the all-in-one solution that’s also integrated with your food and beverage vendors.

Point of Sale 146

Point of Sale Back of House Front of House POS 146

Restaurant365

JANUARY 22, 2020

For a food and beverage restaurant business, it’s not enough to play defense against online criminals. A professional forensic audit of your business. Creating a risk assessment plan for your business may require obtaining a cybersecurity audit from a cybersecurity professional or consultant.

Audits 88

Audits Point of Sale Front of House POS 88

Paper Chase Accountancy

MAY 20, 2025

Restaurant accountants, for instance, must navigate the challenges of fluctuating inventory, high-volume cash transactions, and regular tipping practices, which are unique to the restaurant industry. Daily tasks may include recording sales and cash receipts, reconciling cash, and tracking inventory usage.

Cash Management 52

Cash Management Hotels Hospitality Point of Sale 52

Restaurant365

AUGUST 19, 2020

There are some general areas to focus on when starting to audit your human resources information systems (HRIS) and payroll systems. Some localities may require a bartending license or certificate to serve alcoholic beverages, although this requirement varies by state or municipality. Tailor your hiring and recruiting practices.

Restaurant Law 131

Restaurant Law Recruiting Employee Relations Food Safety 131

Paper Chase Accountancy

JUNE 12, 2025

Nightclubs, on the other hand, have a different set of financial concerns, such as liquor inventory management and fluctuating seasonal revenues. Daily cash control, monitoring of vendor payments, and regular inventory checks are also important. These activities not only help in managing cash flow but also in detecting fraud or theft.

Hotels 52

Hotels Hospitality Cash Management Customer Service 52

Clover - Restaurants

MAY 15, 2024

The scanner reads the black lines and white spaces of a barcode to store information such as product details, prices, and inventory levels. When to use a barcode scanner for inventory management Barcode scanners are the best way to track inventory from the receiving dock to checkout.

Inventory 52

Inventory White Paper Audits Waste 52

Lavu

FEBRUARY 2, 2024

Proper food waste management is crucial in this regard, involving practical tips such as conducting a waste audit to identify areas where waste can be minimized. A POS system is not just about taking orders; it’s a powerful tool for efficient inventory management.

Waste 78

Waste Food Compost Restaurant Law 78

Restaurant365

DECEMBER 17, 2020

Accuracy in these numbers is key to remaining compliant in case of an audit. The IRS has always done audits for organizations on employment tax issues, which included reviewing Form W-9 and 1099 compliance. As a result, Form 1099 audits are becoming more common. State-level interest in increased audits stems from a couple areas.

Audits 78

Audits Document 2020 Delivery 78

Crunchtime

FEBRUARY 7, 2024

Inventory audit: different products and items run out of stock more quickly than others; standardizing the expectations for when and how frequently each product should be prepared or restocked. Or if an employee says that the beverages have not been restocked, automatically assign them a task to restock it by a certain time.

Operations 78

Operations Cash Management Audits Food Safety 78

Restaurant365

JULY 14, 2021

Start by auditing your food waste. While food waste reduction is extremely beneficial in the long-term, it requires some additional work to properly store, monitor, and use inventory ingredients. A slimmer menu can help facilitate a more streamlined inventory. Count your inventory regularly. Here are 15 practical tips.

Waste 78

Waste Compost Food Inventory 78

Xtra Chef

DECEMBER 11, 2019

Inventory Management. Like most businesses, restaurants must manage an inventory of raw materials that will be converted into a final product that is sold to customers. Inventory Management allows you to account for and carefully manage the value of these raw materials on your balance sheet to minimize the cost of goods sold.

Cash Management 90

Cash Management Point of Sale Tip Distribution Inventory 90

Open for Business

SEPTEMBER 2, 2024

It’s helpful for understanding your restaurant profitability, and there are two main types you need to consider: Gross profit margin measures profit from food and beverage sales before accounting for operating expenses. Cost of goods sold (COGS) i ncludes ingredient and beverage costs. Embrace AI.

Point of Sale 78

Point of Sale Seasonal Menu Customer Service Small Business 78

Paper Chase Accountancy

JUNE 5, 2025

Accounting for restaurants and bars often requires tracking numerous revenue streams, from food and beverage sales to event hosting. Hotels often require thorough revenue management, inventory control, and capital expenditure tracking solutions. Regular audits help in identifying any financial discrepancies early.

Hospitality 52

Hospitality Cash Management Hotels Restaurant Law 52

Restaurant365

AUGUST 12, 2021

Add in all of the invoices, orders, and inventory you are tracking. You can end up with issues like managers overspending on labor or inventory over an extended period, requiring you to make major, rapid adjustments at the end of the period to meet targets. Think about how many transactions you do in a day.

Leadership 78

Leadership Inventory Hiring Point of Sale 78

The Restaurant Times

SEPTEMBER 16, 2021

Monitoring employee performance, providing excellent customer service, and maintaining accurate inventory are necessary measures to ensure that your restaurant runs smoothly and profitably. Behind the scenes, the POS software captures and processes payments, tracks inventory, collect consumer information and sends reordering reminders.

POS 52

POS Point of Sale Inventory Consumer Goods 52

Harbor Touch

MARCH 18, 2025

Ive seen audits flag too-generous pay compared to industry norms. Ive tossed meals into inventory totals and shaved taxes that way. Beverages: water, soda, liquor. Ask your accountant if Section 179 fits leases, too. Compensation: Balance Pay and Deductions Wages and benefits for your team are deductible. Keep it reasonable.

Point of Sale 78

Point of Sale POS Restaurant Law Equipment 78