Remove Audits Remove Take-out Remove Tip Distribution
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Monthly Restaurant Accounting: Tax and Financial Tips 

Paper Chase Accountancy

The restaurant business is a dynamic, fast-paced world where passion for food and hospitality often takes center stage. In this high-stakes environment, an annual scramble to sort out finances is a recipe for disaster. Professional tips for hospitality accounting that directly contribute to sustained business growth.

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How to Automate Payroll with POS Systems

Lavu

Using a POS system simplifies payroll by automating time tracking, tip management, and wage calculations, while integrating with accounting tools like QuickBooks ensures compliance and accuracy. Tip Management : Calculates and distributes tips fairly. Let’s take a closer look at why Lavu is a standout option.

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Hospitality Industry Accounting and Advisory Services: The Path to Sustainable Growth 

Paper Chase Accountancy

High Labor Costs: Staffing, often a significant portion of operational expenses, involves complex payroll structures, tip reporting, overtime, and benefits, all requiring meticulous tracking. Tip Management and Reporting: Ensuring accurate calculation, distribution, and reporting of tips for compliance and employee satisfaction.

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Ultimate Restaurant Payroll Guide 2021

7 Shifts

Understanding the ins and outs of paying employees, observing labor laws, and complying with the tax code is critical to running a business. Doing payroll," or “running payroll,” encompasses the following: Calculating how much money (including tips) your business owes employees and contractors during a specific pay period.

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8 Reasons Why Restaurant Workers Quit (And How to Retain Them)

7 Shifts

73% of those employees still receive tips. Implement a tip pool. Tip pooling is another way that restaurants are changing up compensation more fair across the board. A tip pool eliminates some of the downsides of tipping like inconsistent wages, an emphasis on “good tables,” and an individual mentality among serving staff.

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The 5 Things Food Vendors Don't Want You to Know

Embrace the Suck

If you can reduce ticket times in your kitchen, reduce the time it takes to turn a table, and increase delivery without adding more staff. It the same concept that we use in restaurant work: full hands in, full hand out! Your salesperson will try to talk you out of getting a Prime Vendor Agreement (PVA). ” Not so fast.

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[Guide] How to Implement Digital Tip Payouts at your Restaurant

7 Shifts

So, you've decided to implement a digital tip payout solution in your business—congratulations! Restaurants without team management tools may miss out on top talent, like those who value tech: Gen Z. Although it takes time upfront, this step is critical for long-term success. Now it's time to get your team on board!