Paper Chase Accountancy

JULY 24, 2025

These books aid in tracking sales, managing payroll, and handling expenses accurately. We’ll explore why these books are indispensable in daily operations, dissect their key components from sales to payroll, and highlight common pitfalls in restaurant bookkeeping.

Book

Paper Chase Accountancy

JUNE 2, 2025

Is it not a paradox that in the bustling world of restaurants, where every cent counts, the handling of tips often falls through the cracks? While a seemingly small detail, the proper management of tips can significantly impact a restaurant’s financial health and its employees’ satisfaction. Curious to find out more?

Tip Distribution

Paper Chase Accountancy

MAY 21, 2025

Point-of-Sale (POS) System Integration: Seamless integration of POS data into accounting systems is crucial for real-time sales tracking, accurate revenue recognition, and identifying trends. Grasp why specialized hospitality accountancy is not just an advantage, but a necessity, over general accounting practices.

Hospitality

Paper Chase Accountancy

MAY 30, 2025

Just as the backbone holds up the body, so does financial accounting underpin the success of hospitality businesses. This fundamental discipline, when expertly managed, ensures the financial health of restaurants and hotels, enabling them to thrive even in challenging market conditions.

Hotels

Paper Chase Accountancy

MAY 20, 2025

In the bustling world of gastronomy, the art of restaurant bookkeeping often takes a backseat. It’s a nuanced dance, balancing income and expenditure, ensuring the financial health of the establishment. This guide aims to simplify the process, whether you’re a seasoned restaurateur or new to the industry.

Cash Management

Paper Chase Accountancy

JULY 21, 2025

Specialized hospitality accountants provide essential services like inventory management, accurate payroll processing, and tracking daily sales and expenses. Key Takeaways Hospitality accounting solutions streamline financial management and ensure regulatory compliance, vital for growth in the industry.

Hospitality

Paper Chase Accountancy

JUNE 12, 2025

Just like a key can unlock a door, innovative hospitality finance solutions can open up new avenues of growth for hotels and restaurants. In an industry where margins are often razor-thin, the right financial strategies can make a significant difference. So, what could the key to unlocking this growth look like?

Hotels

Paper Chase Accountancy

JULY 7, 2025

It’s not just about maintaining financial records, but understanding the unique needs of the food and beverage industry and how these can significantly impact daily operations and profitability. They’d overlooked the importance of a top-notch bookkeeping service, and it cost them their business.

Cash Management

Paper Chase Accountancy

JULY 30, 2025

Specialized Revenue Tracking : Hospitality bookkeeping services track revenue from diverse sources like rooms, food and beverage, and event services which is not a common practice in traditional bookkeeping. Consider a bustling city hotel, its rooms booked solid and restaurant brimming with diners.

Hospitality

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. This intricate dance between numbers and people creates a fascinating landscape, one that begs for a closer look to truly appreciate the art of financial management in the hospitality industry.

Hospitality

Modern Restaurant Management

AUGUST 27, 2024

Restaurants, like other cash-intensive businesses, are a frequently targeted for audits by the IRS. By keeping accurate and complete records, you can reduce the length and pain of an audit. Once you are under audit, you may no longer remember some of the day-to-day details from a particular year, especially if it was six years ago.

Audits

Modern Restaurant Management

DECEMBER 16, 2021

Operators should gravitate towards technology to automate inventory and track costs and sales to determine the best course of action. We also foresee a lot of companies will redesign locations even further to maximize efficiency. To that end, we also foresee a lot of companies will redesign locations even further to maximize efficiency.

2022

Modern Restaurant Management

MARCH 11, 2020

This edition of MRM News Bites features a double dose from US Foods, SpotOn Transact, DoorDash Kitchens, Virtual Restaurant Consulting, Tripleseat and Gather, wagamama, Toast, The Gluten Intolerance Group, Instawork and StaffMate Online, Procurant and Yellofin, Sift, 7shifts, ParTech, Revel Systems and Como, Kabbage, Bluecrew and Cuboh.

Bar

Modern Restaurant Management

JANUARY 8, 2024

Consider, for instance, a scenario in which your Point of Sale (POS) system can forecast the popularity of a new dish based on historical customer behaviour. This trend reflects the growing popularity of drive-thru and fast-casual dining, coupled with the demand for digital technologies such as QSR digital signage and QR codes.

2024

Modern Restaurant Management

APRIL 2, 2020

Restaurant employees can apply online to receive a one-time, $500 check to use toward bills, including housing, transportation, utilities, childcare, groceries, medical bills and/or student loans. The Foundation will administer the grants, offered on a first-come, first-served basis. Live in the U.S., an overseas U.S. military base, or any U.S.

Employee Relations

Modern Restaurant Management

JULY 1, 2020

This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features the rise of eCommerce, economic impact, dining during COVID and hot dog insights. Yelp's Economic Impact Report. Key findings for the restaurant industry include: Restaurant Closures Data. Restaurants had a high rate of permanent closures.

2020

Modern Restaurant Management

MAY 7, 2021

It also continues its rapid growth internationally by adding franchise development deals for France, Morocco, Egypt, Kuwait, and Bahrain to its international market now totaling 64 stores. In total, 165 stores are set to open. Randy’s Donuts is also in negotiations for dozens of stores throughout California and other states.

Franchise

Modern Restaurant Management

SEPTEMBER 2, 2022

Improving your restaurant’s SERP rankings can help generate more online visibility and subsequently more online sales. This includes written content as well as images and videos of your food, beverages, atmosphere, and more. Six Tips to Improve Your Restaurant’s Local SERP Rankings. Best Italian food in South Florida.

SEO

Modern Restaurant Management

FEBRUARY 19, 2020

Frances Allen has been named Chief Executive Officer and a member of Checkers & Rally’s Board of Directors, effective February 17, 2020. Allen succeeds Rick Silva, who has decided to leave the company after 13 years as CEO and President. She is an accomplished leader in the restaurant industry.

Franchise

Modern Restaurant Management

AUGUST 19, 2020

With the acquisition of Johnny Rockets, FAT Brands will have more than 700 franchised and company owned restaurants around the globe with annual system-wide sales exceeding $700 million. The Main Course. "We always viewed a podcast as a natural extension of the MRM brand," said Executive Editor Barbara Castiglia. "When Brands Inc.

Kitchen Safety

Lavu

NOVEMBER 17, 2023

Profit margin is a key metric, especially pivotal in restaurant sales, that calculates the percentage of revenue left as profit after covering expenses. This, in turn, can significantly increase your sales and enhance profit margins, pointing towards areas of strength and potential areas for improvement.

Fast Casual

Restaurant365

DECEMBER 10, 2021

A period with seven weekend days, as opposed to one with nine, will likely generate much different sales and expense levels. For instance, if you run payroll weekly or bi-weekly, a four-week accounting period allows you to align labor costs with sales, informing accurate, useful labor cost calculations.

Point of Sale

Restaurant365

NOVEMBER 30, 2021

For many restaurants, the weekend provides significantly higher sales levels than a weekday. 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. Understanding payroll regulations.

Restaurant Law

Perfect Daily Grind

OCTOBER 1, 2022

Speakers will include Head of Beverages at Nestlé Professional, Patrick Stern, and Relationship Manager at Perfect Daily Grind, Nicholas Yamada. revenue growth in 2021, bolstered by rising Nespresso sales. Nestlé states Nespresso was a significant contributor to overall sales growth. Registration is now open. billion (US $2.86

2022

Perfect Daily Grind

AUGUST 21, 2022

However, with consumers becoming increasingly conscious of their environmental impact, it’s clear that more and more businesses need to adapt and move away from disposable cups. According to Clean Water Action , the US alone uses some 130 billion disposable cups per year – which includes coffee cups. But how do these initiatives work?

Waste

Restaurant365

JANUARY 22, 2020

For a food and beverage restaurant business, it’s not enough to play defense against online criminals. Your point of sale system (POS) may be tracking your private company financials, and your internal communications may include intellectual property or confidential corporate information.

Audits

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. Successful restaurant owners and operators don’t just provide great food. For food service and hospitality in particular, an essential part of the guest experience is the interaction with employees.

Restaurant Law

Xtra Chef

AUGUST 26, 2020

But a more detailed CoA can help restaurants tell their story through data, stay audit-ready, and easily uncover inefficiencies that are costing the business money. Consider this: you make a $20 sale for a to-go order at your restaurant. Your CoA is set up to code all sales the same way. Keep reading for his insight!

Point of Sale

Restaurant365

APRIL 14, 2020

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. Schedule consistent restaurant food inventory audits in advance.

Inventory

Chowly

FEBRUARY 23, 2024

While restaurant sales are predicted to rise in 2024, high operational costs will limit profit margins. Sales and Economic Forecast Independent restaurants bore the brunt of the pandemic, with approximately 10% closing in 2020 compared to 2.5% Sales are projected to rise, but the higher cost of doing business will challenge margins.

2024

Harbor Touch

APRIL 17, 2018

Sales Tax Requirements. The city and state where you operate your restaurant could have different sales tax requirements, and if you own multiple locations, it is even more important to be up to date on the different requirements. Compensation and Taxes. Mileage Deductions. Employee Meals. Keep Proper Records. Charitable Deductions.

Employee Relations

Harbor Touch

MARCH 18, 2025

Sales Tax: Stay on Top of Local Rules Every city and state has its own sales tax quirks. Pro Tip: SkyTab can track sales tax by location with its reporting tools. Ive seen audits flag too-generous pay compared to industry norms. Pro Tip: SkyTab provides sales and wage reports. Essential Restaurant Tax Deductions 1.

Point of Sale

Harbor Touch

MARCH 18, 2025

Sales Tax: Stay on Top of Local Rules Every city and state has its own sales tax quirks. Pro Tip: SkyTab can track sales tax by location with its reporting tools. Ive seen audits flag too-generous pay compared to industry norms. Pro Tip: SkyTab provides sales and wage reports. Essential Restaurant Tax Deductions 1.

Point of Sale

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. In the face of a staggering global issue, restaurants must proactively avoid food waste. billion tons of food are wasted annually across the globe.

Waste

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. Running a successful restaurant involves more than just serving great food. Is there a seasonal pattern?

Point of Sale

Xtra Chef

DECEMBER 11, 2019

Restaurant accounting is certainly not the most glamorous part of running a restaurant. Yet, without proper restaurant accounting, it is impossible to control your finances and keep your restaurant in business. Restaurant accounting activities include everything from accurately recording transactions to creating detailed financial reports.

Cash Management

Restaurant365

AUGUST 21, 2020

There are some general areas to focus on when starting to audit your human resources information systems (HRIS) and payroll systems. Successful restaurant owners and operators don’t just provide great food. For food service and hospitality in particular, an essential part of the guest experience is the interaction with employees.

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