Paper Chase Accountancy

JUNE 5, 2025

It’s a complex arena, where revenue management, cost control, and financial reporting intermingle with unique business elements such as seasonality, customer service, and the unpredictability of guest behavior. Comparing and selecting appropriate accounting solutions can greatly impact business efficiency in the hospitality sector.

Hospitality

Paper Chase Accountancy

AUGUST 11, 2025

Hospitality accountants play a crucial role in financial management, strategic planning, and regulatory compliance to enhance performance and reduce costs. Accounting for restaurants and bars involves unique challenges like tracking daily sales, cash flow management, and food cost control.

Hospitality

Modern Restaurant Management

MARCH 31, 2020

A few months back, several Tim Hortons locations were forced to shut down after a computer virus infected cash registers at more than 1000 stores. Is the vendor’s security audited by a third-party company? Unpatched security vulnerabilities are still the most frequent source of security holes for small businesses.

Website Management

7 Shifts

DECEMBER 3, 2019

Step 1: Audit Your Current Location(s) Before you start planning for your future, take a look at your past and your present. Still, you should conduct a thorough audit of your current restaurant(s) before expanding your business further. Looking for a new source of capital this time around? Next, you need a location.

Franchising

Modern Restaurant Management

JANUARY 8, 2024

Modern Restaurant Management (MRM) magazine asked restaurant industry experts for their views on what trends and challenges owners and operators can expect to see in 2024. This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits.

2024

Modern Restaurant Management

DECEMBER 16, 2021

Modern Restaurant Management (MRM) magazine asked restaurant industry insiders for their views on trends. With more options to work outside of the hospitality industry, operators must offer employees more scheduling flexibility, facilitate transparent communication between management and team members, and avoid overworking staff.

2022

ChowNow

SEPTEMBER 17, 2024

Managing accounts payable (AP) for restaurants efficiently is vital to running a successful restaurant. From keeping up with invoices to negotiating better payment terms with suppliers, these steps can ensure smoother operations, improved cash flow, and stronger relationships with your vendors. Automation can be a game changer here.

Cash Management

Modern Restaurant Management

APRIL 2, 2020

To add resources to these guides, reach out to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com with news. Had a primary source of income in the restaurant industry for the last year. restaurant employees financially impacted by the coronavirus crisis.

Employee Relations

7 Shifts

AUGUST 18, 2024

But the challenges don’t stop there—once open you have to focus on improving processes, managing labor schedules, and controlling restaurant costs. Not only do you have to manage many costs including, labor, equipment, and food—but you have to do it while dealing with inevitable price increases. This is only a guideline.

License

7 Shifts

SEPTEMBER 6, 2024

A full-service restaurant that uses premium, locally sourced ingredients may have food costs of around 28% to 30% , while a pizza place may have lower expenses due to bulk purchasing and more affordable ingredients, with a COGS percentage closer to 18% to 22%. Efficiently managing labor can help you keep your restaurant COGS under control.

2024

7 Shifts

MAY 15, 2023

While payroll has historically been the source of a lot of stress for restaurant owners, there are a number of tools and resources to make it easier. Restaurant payroll is a system for calculating and managing the salaries of employees in a restaurant. Updating your payroll records in case of an audit.

2023

7 Shifts

MAY 18, 2023

Then, out of the blue, these labor audit folks showed up, and man, did they find a heap of issues. And the audit was a pain in the neck—he had to dig out all sorts of paperwork and answer a million questions, which ate into the time he should have been spending running his place. Learn more Most common tax payroll mistakes 1.

Restaurant Law

Modern Restaurant Management

AUGUST 19, 2020

Modern Restaurat Management (MRM) magazine is collaborating with the team at MarketScale on The Main Course , a podcast that aims to explore the intense and competitive modern restaurant industry. "We Barbara Castiglia , MODERATOR – Modern Restaurant Management. They both went through a management training program.

Kitchen Safety

Perfect Daily Grind

SEPTEMBER 15, 2022

If the coffee industry is to tackle this problem, it needs to address the increasing need for long-term sustainable coffee sourcing. So what exactly is long-term sustainable sourcing and how can it be achieved? To find out more, I spoke with three industry professionals sourcing Fairtrade coffee.

Sourcing

The Restaurant Times

JUNE 3, 2020

Forecast The cash flow . With a cash flow forecast, you can gain insights about how to manage your cash flow better. Using a cash flow forecast will give a fair understanding of the cash inflows and expenses, so you can be better prepared to make decisions. . Avoid The Credit Business.

Cash Management

Modern Restaurant Management

FEBRUARY 19, 2020

Modern Restaurant Management (MRM) magazine's Franchise Feed offers a glimpse at what's new in the restaurant franchise and MUFSO environment. She first served as senior internal audit analyst at Yum! Send news to Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com. Allen Named CEO at Checkers & Rally's.

Franchise

Xtra Chef

DECEMBER 11, 2019

Whether you are an executive chef, a seasoned restaurant finance executive, or an owner/operator who manages your own books, speaking the language of restaurant accounting will help keep all financial stakeholders on the same page. In Part 2, we’ll help you decide how best to manage accounting at your restaurant. Inventory Management.

Cash Management

Lavu

JANUARY 21, 2020

Once integrated into the back-of-house system, accounting software automatically pools cash and sales data from the POS system onto the reporting module or Daily Sales balancing for reconciliation. Simplifies Auditing. A complete audit trail is provided from the source of information to the destination.

Audits

MBB Hospitality

SEPTEMBER 15, 2024

Strengthen Financial Management One of the most critical steps to stay in business during inflation is mastering financial management. Managing Debt Wisely : Avoid excessive borrowing during inflationary times to reduce exposure to higher interest rates. Developing a comprehensive risk management plan is another crucial step.

Cash Management

Restaurant365

SEPTEMBER 30, 2019

All approval process workflows are accessible through a centralized email or dashboard, and an audit log tracks all decisions. Accidentally keying in a small AP mistake can lead to hours tracking down the source, and paper-based failed, duplicate, or late payments can impact your bottom line. Step 3: Pay.

Audits

Lavu

MARCH 11, 2020

Understanding Restaurant Management Software. Among the technology offered today is restaurant management software. . If you’re in the beginning stages of looking for a restaurant management system , you might have multiple questions or concerns. Why do you need restaurant management software?

Management

The Restaurant Times

JUNE 11, 2021

Managing a restaurant is a daunting task. Handling inventory, staff and customers, along with keeping track of analytics and reports all at the same time can become cumbersome for the restaurant manager. It enables you to manage each task efficiently. . Source: DinePlan. Let us see how. Has User-Friendly Interface.

POS

The Restaurant Times

FEBRUARY 22, 2022

Source: HPG Consulting. Be certain that the cash you have set aside to cover startup costs is sufficient before you embark on it. Kitchen Management . This is when the consultant conducts a confidential restaurant audit to uncover the facts about how your business is run. Assistance With Specialized Food Products .

Hiring

BNG Point of Sale

SEPTEMBER 2, 2021

In this post, we will explore what an ideal restaurant food margin is and how to calculate it so that you can have an easier time managing your business and know exactly where you stand financially. . However, the difference is that high-end caterers can make as much as 15% while others might only be able to manage 8%. .

Food Truck

ChefMod

MAY 13, 2024

AP automation solutions specifically designed for hospitality help restaurant owners optimize their purchasing process, recipe management, inventory, analytics, GL mapping, and visibility into expenses across all suppliers. Accounts Payable (AP) Automation simplifies and streamlines the management of your company’s outgoing expenses.

Cash Management

Apicbase

APRIL 20, 2022

Audited financial statements can reassure potential business owners and investors. You will also need to estimate the expected growth rate for at least the first year of the franchise business, calculate the restaurant cash flow, and determine the payback period (the time it will take to cover the capital expenditure).

Franchise

SpotOn

FEBRUARY 26, 2024

Managing remote businesses adds an additional layer of complexity to retail recruitment. Image sourced from humancapital.aon.com Why is this? Audit the process Again, stay on top of what’s happening, in this case, in your actual retail recruitment process. It’s not just tech products that staff should be on top of.

Recruiting

Apicbase

MAY 18, 2022

Managing a chain of company-owned restaurants is very different from working with franchisees. Besides cost estimates, audited financial statements and projections should be included, like: the expected growth rate for (at least) the first year; the estimated restaurant cash flow; the expected payback period.

Franchising

Modern Restaurant Management

JUNE 19, 2020

This singular focus has allowed Bloom to create a world class enterprise analytics and marketing platform that saves at-risk customers, builds and manages online reviews, while increasing customers’ frequency. Document Management & Search — Easily store, search, and access invoices from anywhere. Shake Shack Inc.

Food Safety

EATER

OCTOBER 13, 2020

Despite its issues-driven programming, the foundation’s Restaurant and Chef Awards have become both its crown jewel and cash cow. The cleanup was expensive — at least $750,000 in attorneys and accountant fees — and the nonprofit found itself in a financial free fall as donations, its primary source of revenue, quickly dried up.

Social Media