Lavu

MARCH 17, 2025

Managing food costs is one of the most important factors in running a profitable restaurant. With rising ingredient prices and tight profit margins, understanding the food cost formula can make the difference between financial success and failure. What is the Food Cost Formula? Lets dive in!

Food

7 Shifts

NOVEMBER 15, 2024

They play a big role in overseeing your inventory and attending to customer complaints. In this article: How do you handle inventory management to keep the bar always adequately stocked? What techniques would you use to prevent over-pouring and inventory shrinkage? How would you improve or refine our current drink menu?

Bar

7 Shifts

NOVEMBER 15, 2024

After all, it’s not just the quality of your food that can keep customers coming back — 73% of diners base their satisfaction on the quality of service they receive. How do you ensure compliance with food safety and hygiene regulations? Hiring the right people can make or break your business.

Leadership

QSR Automations

JUNE 10, 2025

The merger of the two companies will create a restaurant technology company that delivers solutions for the entire food lifecycle at scale. From ingredient ordering to food prep to timely order flow, restaurants will be able to accurately predict, plan, and execute operations more efficiently.

Technology

Harbor Touch

MARCH 18, 2025

Ive seen audits flag too-generous pay compared to industry norms. Mileage: Drive Off Some Taxes Delivering food or catering events? Employee Meals: Free Food, Free Savings Feeding staff on-site? Its 100% if part of food costs, non-taxable to them. Ive tossed meals into inventory totals and shaved taxes that way.

Point of Sale

Lavu

APRIL 17, 2025

Track inventory to reduce food waste and energy-intensive storage. Improving Inventory Management Managing inventory efficiently also plays a role in energy savings. Restaurants typically generate 25,000 to 75,000 pounds of food waste every year. Automate lighting and HVAC schedules.

Waste

Paper Chase Accountancy

JULY 2, 2025

The restaurant business is a dynamic, fast-paced world where passion for food and hospitality often takes center stage. Staying Compliant and Audit-Ready The IRS, state tax authorities, and even local health departments have stringent requirements for financial record-keeping in restaurants. Is inventory shrinkage an issue?

Cash Management

Lavu

JULY 18, 2025

In a fast-paced restaurant environment, even small losses can add up quickly—whether it’s from employee theft, inventory errors, or unauthorized discounts. Modern POS systems offer powerful tools to track transactions, monitor staff activity, and tighten inventory control—all in real time. That’s where technology steps in.

POS

Lavu

MAY 2, 2025

Managing food allergies in a restaurant isn’t just about good service its a critical safety responsibility. Managing food allergens in restaurants is non-negotiable, especially with 32 million Americans living with food allergies. Real-time inventory tracking is another key advantage.

Allergens

Lavu

JUNE 26, 2025

Running a successful restaurant isn’t just about great food and service—it’s also about smart financial management. You probably joined the industry to make delicious food to serve and create a great environment for your patrons. It includes all the cost incurred on food and beverage, payroll, taxes, and benefits).

2025

Lavu

JULY 25, 2025

Syncs Inventory with Sales: Tracks stock in real-time to prevent waste and over-ordering. Handles Taxes Seamlessly: Automates tax calculations and creates clear audit trails. Smart POS systems solve this issue with real-time inventory tracking that updates stock levels with each transaction.

POS

Paper Chase Accountancy

JUNE 16, 2025

Monitoring cost ratios, RevPAR, and food cost percentage can provide insight into the financial health of the restaurant. These include cost ratios, revenue per available room (RevPAR), and food cost percentage. To effectively manage the prime cost ratio, consider these strategies: Regularly track food and beverage costs.

Hotels

Paper Chase Accountancy

JUNE 16, 2025

Monitoring cost ratios, RevPAR, and food cost percentage can provide insight into the financial health of the restaurant. These include cost ratios, revenue per available room (RevPAR), and food cost percentage. To effectively manage the prime cost ratio, consider these strategies: Regularly track food and beverage costs.

Hotels

Lavu

JUNE 13, 2025

From planning the layout to managing food services and ensuring compliance, we’ll cover what it takes to launch a profitable, well-run cafeteria in 2025. By offering a range of healthy and diverse food options, employers can create a positive work environment that fosters employee well-being and satisfaction.

2025

Paper Chase Accountancy

JULY 25, 2025

Restaurants and Food Service: Including fine dining, fast casual, QSRs, cafes, and catering. Accounting must track and analyze performance across peak and off-peak seasons, affecting revenue recognition, staffing, and inventory management. Cost of Goods Sold Inventory valuation, purchase tracking, vendor payments.

Hospitality

Lavu

AUGUST 1, 2025

Restaurant and bar scams are more common than many business owners realize—ranging from cash skimming and inventory theft to fraudulent voids and unauthorized discounts. Restaurant scams often involve void fraud, inventory theft, fake refunds, and collusion with vendors. Maintaining an LP strategy requires gravity and diligence.

POS

Lavu

MAY 2, 2025

Managing food allergens isnt just a best practiceits a legal and safety necessity for todays restaurants. With increasing awareness of food allergies, allergen management in POS systems has become essential to ensure customer safety and streamline kitchen operations. These checks help maintain compliance and protect customer safety.

Allergens

Paper Chase Accountancy

AUGUST 5, 2025

With the right help, bars and eateries can focus on what they do best—serving delicious food and providing excellent customer service. Hospitality accountants in London suggest regular financial audits for transparency and uncovering potential financial issues. Various regulations and industry-specific tax deductions apply here.

Cash Management

Paper Chase Accountancy

MAY 30, 2025

A single percentage point difference in food costs or labor can be the difference between profit and loss. IRS Audits: Inaccurate or incomplete records can trigger costly and time-consuming IRS audits, leading to significant penalties and fines. This provides a crucial insight into food and beverage costs relative to sales.

Bar

Paper Chase Accountancy

AUGUST 5, 2025

These innovations help restaurant accountants navigate the unique terrain of accounting for restaurants, from managing food costs to monitoring overheads. They’re not just crunching numbers; they understand the intricacies of restaurant operations, from food cost percentages to prime cost calculations.

Cash Management

Paper Chase Accountancy

JULY 24, 2025

Just like a well-balanced recipe is crucial to a delicious dish, restaurant accounting books are a vital component for a successful food business. A restaurant accountant focuses exclusively on the financial aspects of a restaurant, such as revenue tracking, payroll, and inventory costs.

Book

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

Paper Chase Accountancy

JULY 10, 2025

Hospitality accounting has to deal with elements such as food cost accounting, labor cost accounting, and overhead cost accounting. Accounting for Hotels and Restaurants : This involves unique considerations like fluctuating seasonal demand and inventory control. Implementing a tip sharing system can also help reduce labor costs.

Cash Management

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

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

Paper Chase Accountancy

JULY 7, 2025

A restaurant’s survival isn’t just about cooking delicious food; it’s also about maintaining a healthy bottom line. 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.

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 differences include: Inventory Management : Restaurants need more frequent inventory checks due to perishable goods.

Hospitality

Paper Chase Accountancy

JUNE 12, 2025

For example, a hotel’s financial strategy might focus on managing room occupancy rates and capital investments, while a restaurant’s strategy might be centered around controlling food costs and labor expenses. Daily cash control, monitoring of vendor payments, and regular inventory checks are also important.

Hotels

Paper Chase Accountancy

JULY 3, 2025

Unlike general business accounting, restaurant bookkeeping services need to account for elements like fluctuating food costs, labor issues, and seasonality. Revenue Management : Hospitality accounting involves tracking multiple revenue streams, such as rooms, food, and beverage sales. It helps identify wastages and inefficiencies.

Hotels

Paper Chase Accountancy

JULY 30, 2025

Key Takeaways Hospitality bookkeeping services cater to unique financial needs, including specialized revenue tracking and inventory management. It’s not just about income and expenses; it’s about understanding the nuances of restaurant accounting services, like managing tips, food costs, and overhead.

Hospitality

SpotOn

JULY 15, 2025

You’ll need to memorize dozens of cocktails, beer and wine lists, happy hour rules, and, more often than not, entire food menus. 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. 

Front of House

Paper Chase Accountancy

JUNE 5, 2025

A restaurant accountant must navigate unique challenges inherent in accounting for restaurants, from fluctuating food costs to understanding the implications of seasonality. Bookkeeping for restaurants, on the other hand, demands a granular focus on food cost control and labor management, which is less emphasized in hotel accounting.

Hospitality

Paper Chase Accountancy

AUGUST 5, 2025

Just as a master chef stirs the perfect blend of spices into a dish, so too must restaurant owners in Los Angeles blend their passion for food with a keen understanding of financial management. Key Takeaways Los Angeles bookkeeping services specialize in managing restaurant finances, aiding in audit readiness and cash flow management.

Hospitality

Paper Chase Accountancy

AUGUST 11, 2025

Standard practices often fail to consider the intricate dynamics of the hospitality sector, from restaurant accountants grappling with fluctuating inventory to hotel accounting handling high-volume transactions. Restaurant accountants focus on areas like inventory management, cost control, and daily sales monitoring.

Hospitality

Paper Chase Accountancy

JULY 15, 2025

These firms understand the unique challenges faced by the city’s food industry, from fluctuating operational costs to specific tax laws. How Bookkeeping Los Angeles Experts Help You Stay Audit-Ready Bookkeeping Los Angeles professionals play a significant role in ensuring businesses stay audit-ready.

Audits

Paper Chase Accountancy

JULY 18, 2025

Improper Deductions: Overlooking eligible expense deductions, or claiming those that aren’t justified, can trigger audits and penalties. Inadequate Record Keeping: Not maintaining accurate and comprehensive financial records makes it difficult to substantiate claims during an audit. This means you’re always audit-ready.

Management

Modern Restaurant Management

MAY 2, 2023

An audit can also be a powerful tool that can help you improve the financial health and profitabilit y of your restaurant. How to Conduct a Successful Restaurant Audit First, take stock of the following areas of your restaurant business: Cleaning and Sanitation It’s difficult to overstate the importance of sanitation for restaurants.

Audits