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Understanding whether your staff are employees or independent contractors isn’t just about following the rules—it’s key to maintaining a fair, compliant and smoothly running establishment. Employees classified as exempt from overtime must meet specific criteria, such as executive or administrative duties.
A new year is creeping up on us again, bringing fresh opportunities—and challenges—for restaurant operators. Update Your Employee Handbook Your employee handbook sets the tone for your culture by establishing expectations and aligning your team toward a common goal and vision.
These include: Food Costs Labor Costs Occupancy Costs Operating Costs Marketing and Promotions Expenses Every successful restaurant owner knows that tracking these isnt just a bookkeeping exercise; its how you spot opportunities to save money, collect data for better decision making, and run more efficiently. Are you overstaffed on slow days?
Brands (owner of KFC, Taco Bell, and Pizza Hut) suffered a ransomware attack that forced the closure of approximately 300 restaurants in the UK and exposed personal information of hundreds of thousands of employees. This committee can ensure that legal compliance and insurance requirements are built into everyday operations.
B Corp Certification, a credential bestowed by the non-profit organization B Labs, is a way for businesses to address those concerns and more as they undertake an in-depth auditing process, and come out with a seal of authenticity around their sustainability and social responsibility claims and a branding kit to help promote it.
Integrates with POS systems for seamless operations. Payroll automation saves time, reduces costs, and boosts employee satisfaction, making it a must-have for any restaurant. Restaurant payroll in minutes, not hours The restaurant industry is known for its fast-paced environment, unique operational challenges, and diverse workforce.
In this guide, we’ll break down the top seven POS features you need to create a safer, more compliant dining experience while streamlining your operations. Reports & Analytics : Track allergen-related trends, staff compliance, and customer feedback. KDS Integration : Streamline order preparation with allergen-specific alerts.
Features to Look for in a POS System for Payroll Key Payroll Features in POS Systems When choosing a POS system to manage payroll, you’ll want to prioritize specific features that ensure smooth and accurate operations. For starters, time tracking should be robust – covering employee hours, breaks, and overtime with precision.
Implementing robust security measures ensures compliance and safeguards both business operations and customer data. Related video from YouTube What Is PCI Compliance? Failing to meet PCI DSS standards can seriously harm a restaurant’s finances, operations, and reputation. What Happens If You Don’t Comply?
Whether you’re a seasoned operator or just getting started, understanding the numbers behind your business can mean the difference between breaking even and breaking records. In this guide, we’ll break down key accounting strategies and tools that help streamline operations and boost your bottom line in 2025. Your accountant.
Monitor and Adjust Inventory Regularly Conduct weekly inventory audits. Train employees on proper serving sizes. Establish long-term relationships for better discounts. Use restaurant POS systems to track ingredient usage. Avoid overstocking perishable items. Use pre-portioned ingredients where possible.
A restaurant accountant uses this method to provide precise hospitality accounting, ensuring that a restaurant operates within its budget while maximizing profitability. This is followed by accurately charting the Cost of Goods Sold (COGS) and operating expenses, and effectively handling accounts receivable and payable.
While a seemingly small detail, the proper management of tips can significantly impact a restaurant’s financial health and its employees’ satisfaction. Train Staff : Ensure all employees understand the importance of accurate reporting and know how to do it. They reduce human error and save time.
With increasing awareness of food allergies, allergen management in POS systems has become essential to ensure customer safety and streamline kitchen operations. Managing allergen data in restaurants is critical for customer safety and operational efficiency. Food allergies affect 26 million adults and 6 million children in the U.S.,
Why Bookkeeping Matters for Restaurants and Bars The restaurant and bar industry operates on razor-thin margins. IRS Audits: Inaccurate or incomplete records can trigger costly and time-consuming IRS audits, leading to significant penalties and fines. Ensure compliance with IRS reporting requirements for tipped employees.
Hotels, restaurants, and sprawling F&B groups operate within a unique financial landscape, demanding far more than generic bookkeeping. Discover how Paperchase seamlessly integrates operational efficiency with strategic financial planning. Learn more about our Accounting Services !
Moreover, the significance of hospitality accountancy for hotels and restaurants cannot be overstated, as it directly influences their operational and financial success. Investor Relations : Clear financial statements are crucial for attracting investors. It helps identify wastages and inefficiencies.
Firms offering bookkeeping services in London have a keen understanding of the city’s intricate tax laws, unique operating challenges, and the specific needs of hospitality businesses. Outsourcing bookkeeping services in London offers cost-effective solutions and strategic advantages for financial operations.
Step 5: Treat every trial shift like an audition When you get a shot to tend bar, be ready to hustle. ' Treat every stage like an audition because that’s exactly what it is. I’ve seen a lot of people exaggerate their resumes to get a bartending job, and it never works out well.
Specialized bookkeeping services cater to unique financial obligations of industries like hospitality, mitigating tax-related pitfalls. Incorrect Employee Classification: Misclassifying workers as independent contractors instead of employees can lead to hefty fines and back taxes.
Restaurants have traditionally relied on annual, biannual, or quarterly audits, where an inspector visits the facility and conducts an in-person assessment of health and safety protocols. Here’s some key information to know about remote audits: Remote Audits are Thorough and Comprehensive.
The restaurant industry is still dealing with pandemic-related issues, including supply chain disruptions, new COVID variants and surging cases, labor shortages, rising prices, and a shift in consumer demand. Make food safety and customer reassurance a priority to create a brand that customers (and employees) trust and support.
Restaurants are integrating AI in many facets of their operations to gain a competitive advantage. While there are a host of compelling use cases for AI in the restaurant industry, many restaurant operators today are leveraging AI to transform back-of-house operations. billion of those losses occurring in the United States.
.” Restaurant managers who develop clearly-documented policies, operational checklists, and clear communication systems can simplify the process for everyone. If you haven’t already, prioritize updating your restaurant’s existing policies and operating procedures in writing. Employee well-being.
The recording of completed work and collection of data serve as an essential tool for QSRs to maintain a safe facility for employees and customers alike. Quick Service Meets Compliance QSRs face significant challenges in maintaining high levels of food safety, with 28% of QSR operators citing food safety as their top challenge.
Remember that it can also be expensive to hire and train new employees. Therefore, if you have exceptional employees at your restaurant, do everything you can to keep them around. Make sure you do a projection and daily audit to ensure your payroll costs are commensurate with your current revenue. Licensing and Permits.
Following government recommendations is always required but going the extra mile by providing a positive culture with purpose can help your employees feel more invested in protecting customers and your business. When employees feel safe, informed, and engaged, then customers will feel safe. Increase Self-Assessments at Every Location.
The National Restaurant Association Educational Foundation has launched the Restaurant Employee Relief Fund to support U.S. restaurant employees financially impacted by the coronavirus crisis. Clic here to d onate to the Foundation’s Restaurant Employee Relief Fund. This fund is designed to help those struggling employees.”
Additionally, as a result of the ongoing labor shortage, we anticipate more automated chatbots to support on-site team members and help streamline their work as well as operators looking for locations with smaller dine-in square footage in favor of adding more drive-thru lanes.
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. During peak seasons, considering outsourcing certain services becomes a practical solution to ensure seamless operations. Read the first part, here.
The upcoming section details these costs across two categories: restaurant startup costs and operating costs. Cost of goods sold is the raw material cost of your beverages and food, and labor cost includes actual labor, employee benefits, payroll taxes, healthcare, and bonuses.
For restaurant operators, it’s important to understand what is driving this “knowledge gap” and the steps they can take to close it. Read on to learn what’s driving the food safety knowledge gap and what leaders can do to optimize how they are operating safe and hygienic restaurants.
Smart Foodservice operates 70 small-format cash and carry stores across California, Washington, Oregon, Idaho, Nevada, Utah and Montana that serve small and mid-sized restaurants and other food business customers with a broad assortment of products. .” NYSE: APO) (the “Apollo Funds”) for $970 million in cash.
Make sure to consider these key factors from both the administrative and employee perspective: Pricing: Consider whether the platform charges a flat fee (monthly or annual), a percentage of tips, or a combination of both. Research the platform's standing in the market and seek out reviews or testimonials from other operators.
According to the National Floor Safety Institute (NFSI), more than three million food service employees and one million guests are injured as a result of slip-and-fall accidents annually. This means taking regular walk-through audits of floors and walkways to help identify hazards that could lead to slip and fall accidents.
shipments of plant-based meat from major broadline foodservice distributors to restaurant chains and non-commercial foodservice operators and was commissioned from NPD, a leading foodservice analytics provider. New GFI-commissioned data also released today reveals the size of the market opportunity on offer and shows that U.S.
After all, a small, honest mistake can accumulate over time and turn into bigger operational problems— 17% of restaurants even fail in their first year due to mismanagement of finances. They speed up your vouching process and help clear up any inconsistencies that could arise during the auditing process.
In this article, the experts at Sling share 12 tips to help you keep your employees motivated, engaged, and productive. Which do you give your employees? This gives your employees the freedom to work when their motivation is at its highest. Your employees’ motivation depends, in large part, on their health.
Employee benefits services. When you partner with a PEO, you get the benefit of their industry expertise, economies of scale, shared liability and risk, and a dedicated team of administration experts to manage your HR, payroll, and employee benefits for you. HR administration. Tax administration. Risk & compliance assistance.
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. There are some general areas to focus on when starting to audit your human resources information systems (HRIS) and payroll systems.
While all of these locations have different deadlines, fines, and provisions, the laws generally seek to give employees advanced notice of their schedules, offer the right to rest in between shifts, and levy penalties to employers who do not comply. Employees 250+ employees 50+ employees in Chicago. COVID-19 Relief.
Allen comes to Checkers & Rally’s with a proven track record of success in the restaurant industry and deep expertise across brand strategy, menu and marketing, franchising, restaurant technology, and restaurant operations, among other disciplines. She first served as senior internal audit analyst at Yum!
High turnover rates not only disrupt operations but also incur significant costs related to hiring and training new employees. The Importance of Effective Labor Management and Scheduling Effective labor management and scheduling are the cornerstones of operational efficiency in the restaurant industry.
While daily operations will continue to be a top priority, restaurant owners should keep in mind a few tax topics that may be helpful in managing these unprecedented times. The application must be submitted within 28 days of the employee start date, and credits range from $2,400 to $9,600 per qualified new hire.
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