7 Shifts

AUGUST 18, 2024

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. Improve Employee Retention The high-turnover rates are well-documented in the restaurant industry, with these rates exceeding 70% in 2016. Why is Food Cost Important? or 30% ($1,50/$5.00*100).

License 370

License Equipment POS Food Supply 370

ChowNow

SEPTEMBER 17, 2024

Purchase Orders (POs) : Documents outlining what was ordered and the agreed price. Ensuring proper documentation of all AP transactions makes it easier to manage audits and stay compliant with regulations. Proper AP management ensures timely payments and helps maintain positive relationships with vendors.

Cash Management 195

Cash Management Document Restaurant Law Online Ordering 195

Lavu

MARCH 17, 2025

With rising ingredient prices and tight profit margins, understanding the food cost formula can make the difference between financial success and failure. By accurately calculating food costs, restaurant owners can set the right menu prices, reduce waste, and maximize their profits. Whole Wheat Bun $0.30 Avocado(1/4) $1.20 0.30 = $17.17

Food 78

Food Waste Seasonal Menu Inventory 78

Paper Chase Accountancy

JULY 2, 2025

Staying Compliant and Audit-Ready The IRS, state tax authorities, and even local health departments have stringent requirements for financial record-keeping in restaurants. Neglecting regular financial updates can lead to significant penalties, interest charges, and the nightmare of an audit. Are you getting the best prices?

Cash Management 82

Cash Management Tip Distribution Point of Sale POS 82

Lavu

NOVEMBER 29, 2024

Reporting Tools : Insights into labor costs, payroll summaries, and tax compliance documents. For example, its dual pricing functionality handles different pay structures effortlessly – something that’s often tricky in the industry. Tip Handling : Automatic tip distribution, detailed reporting, and flexible pooling options.

POS 78

POS Tip Distribution Employee Relations Audits 78

Lavu

JUNE 13, 2025

Lastly, it is crucial to set competitive prices that align with the target market and location. Providing quality food at affordable prices will encourage employees to eat onsite rather than seeking alternatives outside of the workplace. Ensure all documentation is ready before launch.

2025 78

2025 Dietary Restrictions Kitchen Safety License 78

EATER

MARCH 3, 2022

After signing their lease, the Stockstills received a full menu of drink recipes from their upline, who also trained them on the extensive documentation that Herbalife required to keep the shop compliant. But they’re not auditing anything — the stores are growing way too quick for that.”.

Recruiting 313

Recruiting Small Business Social Media Consumer Goods 313

Lavu

JUNE 26, 2025

It allows you to document all financial transactions of your business and determine its performance. Documented reporting and screening of these costs is integral to keeping the business afloat. When properly done, this will also reduce the worry related to auditing of your financial reports. So, what is restaurant accounting?

2025 113

2025 Cash Management Point of Sale POS 113

Paper Chase Accountancy

MAY 22, 2025

These revenue centers can include different sections of their business such as the dining area, bar, or even external sources like franchise disclosure documents. When handled correctly, tip reconciliation can help restaurants maintain control over their finances and avoid costly errors or audits.

Cash Management 52

Cash Management Franchise Franchising Tip Distribution 52

Modern Restaurant Management

MARCH 11, 2020

US Foods will finance the acquisition primarily with $700 million in fully committed financing from Citigroup and Bank of America and will fund the balance of the purchase price through its existing liquidity resources. At the closing of the acquisition, US Foods’ pro forma net leverage is expected to be approximately 4.0x

Bar 386

Bar Cash Management Loyalty Program Point of Sale 386

Xtra Chef

MAY 21, 2020

Save time and reduce touch by uploading documents to a cloud. Plus, our software utilizes optical character recognition (OCR) to make all documents searchable, making reconciliations and audits a breeze. See how often you purchase from each vendor, as well as how their prices fluctuate over time.

2020 115

2020 Back of House Document BOH 115

7 Shifts

DECEMBER 6, 2023

The Colorado minimum wage can potentially change every January , based on cost of living increases (as measured by Colorado’s Consumer Price Index). Follow these tips to help your restaurant stay compliant: Carefully document hours worked and tips received. What is the minimum wage in Colorado? Using 2023 numbers: $13.65

Tip Distribution 221

Tip Distribution Restaurant Law Employee Relations 2023 221

Perfect Daily Grind

SEPTEMBER 15, 2022

What’s more, despite the current high C price , the coffee market has historically been volatile. As recently as 2018, the market price fluctuated around US $1/lb – undoubtedly leading many smallholders into further poverty. The two price models work differently. This protects farmers from negative market fluctuations.

Sourcing 158

Sourcing Sustainability Certification Consumer Goods 158

Paper Chase Accountancy

MAY 30, 2025

Without a clear financial picture, owners are essentially flying blind, unable to identify areas of waste, optimize pricing, or make strategic investments. IRS Audits: Inaccurate or incomplete records can trigger costly and time-consuming IRS audits, leading to significant penalties and fines.

Bar 52

Bar Cash Management Point of Sale Back of House 52

7 Shifts

DECEMBER 6, 2023

The Colorado minimum wage can potentially change every January , based on cost of living increases (as measured by Colorado’s Consumer Price Index). Follow these tips to help your restaurant stay compliant: Carefully document hours worked and tips received. What is the minimum wage in Colorado? Using 2023 numbers: $13.65

Tip Distribution 195

Tip Distribution Restaurant Law Employee Relations 2023 195

Paper Chase Accountancy

MAY 16, 2025

Professional bookkeeping firms promote a culture of compliance, maintain accurate records for audits, and enhance financial transparency. Additionally, having organized financial records is vital when facing VAT audits in the UAE. They ensure all transaction details are meticulously recorded, making the audit process smoother.

Audits 52

Audits Restaurant Law Customer Service Document 52

Xtra Chef

AUGUST 26, 2020

A very basic, yet financially sound, CoA documents a system of credits and debits. 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. “Accounting is the language of business,” explains Wang.

Point of Sale 112

Point of Sale Article Book 2011 112

BNG Point of Sale

APRIL 14, 2021

When setting up your contract, you are given the option of a range of credit card pricing plans. Here are three of the most common pricing models. Interchange Plus Fee Pricing. Tiered Pricing. Flat-fee Structure Pricing. However flat-rate can sometimes come out as more expensive than interchange-plus pricing.

POS 98

POS Point of Sale Customer Service Pricing 98

Sling

MAY 9, 2023

3) Create a restaurant operations manual If your business relies on unwritten rules and processes to get things done, it may be time to create a restaurant operations manual in which procedures are documented, clear, and available to all team members. This is especially important when training new employees.

Operations 78

Operations Loyalty Program Food Safety Front of House 78

Restaurant365

SEPTEMBER 30, 2019

The accounts payable platform acts as a document repository for invoices and other paperwork as it comes into the restaurant. All approval process workflows are accessible through a centralized email or dashboard, and an audit log tracks all decisions. Physical paper invoices are scanned or photographed from mobile or desktop devices.

Audits 60

Audits Cash Management Mobile Ordering Point of Sale 60

Xtra Chef

MAY 13, 2020

Blindly paying foodservice vendor bills without visibility into unit prices and storing paper in a Banker’s Box in the basement is inoperable and inefficient. Once invoices are captured, xtraCHEF applies optical character recognition (OCR) to digitize line-item detail and make each document searchable.

Front of House 79

Front of House Back of House FOH BOH 79

Xtra Chef

DECEMBER 11, 2019

A restaurant accountant’s responsibilities typically include the following tasks: Recording transactions in the general ledger —the master document for capturing financial transactions. It indicates whether you’re pricing your menu properly and controlling your costs. Analyzing ledger and journal entries. Accounts Payable (i.e.

Cash Management 90

Cash Management Point of Sale Tip Distribution Inventory 90

Restaurant365

JULY 17, 2020

Centralized document management is another essential aspect of intercompany accounting. In many cases, enterprises have their transaction documents, such as invoices, contracts, and purchase orders isolated within different systems, making reconciliation discrepancies difficult to fix.

Point of Sale 78

Point of Sale Consumer Goods POS Front of House 78

Xtra Chef

OCTOBER 28, 2020

The software can track inventory levels and cost of goods sold (COGS) in real time and prevent common errors caused by manual data input, new vendors or items, or outdated pricing. It includes everything from order management and storage to counting and updating inventory price data from invoices. Common Restaurant Inventory Terms.

Inventory 78

Inventory Management Management Cash Management 78

Apicbase

MAY 18, 2022

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. However, one more document can make or break your entire franchising operation: the franchise agreement.

Franchise 52

Franchise Franchising Sustainability Document 52

Apicbase

JUNE 11, 2024

Value Consistency Above Lower Prices While a 20% lower price sounds fantastic, it doesn’t help your restaurant if deliveries are regularly late. Small price fluctuations can lead to substantial changes in overall costs, making them a primary focus for managers aiming to control expenses and maximise profits. Book a Demo 2.

Supplies 52

Supplies Management Management Food Supply 52

Apicbase

APRIL 5, 2024

The most comprehensive solutions keep all your ingredients, suppliers, and pricing details in one place. They allow restaurant managers to generate detailed digital traceability reports and document each ingredient’s journey from raw materials to the end client or restaurant.

Back of House 52

Back of House Front of House BOH Point of Sale 52

Apicbase

MAY 8, 2024

MarketMan tracks ingredient prices to help optimise menu prices. You can track spending over time and receive alerts on price changes. In case of an audit, the necessary documents are ready for inspection. It can analyse the images and extract information. You can set alerts and order to PAR.

Inventory 52

Inventory Food Supply Back of House Kitchen Safety 52

Modern Restaurant Management

JUNE 19, 2020

The EZ application requires fewer calculations and less documentation for eligible borrowers. ” Features include: Ingredient Price Tracker — Monitor item price fluctuations to audit and avoid vendor discrepancies. Document Management & Search — Easily store, search, and access invoices from anywhere.

Food Safety 362

Food Safety Customer Experience Website Management Employee Relations 362