Culinary Cues

MAY 13, 2023

Each of those “departments” will require some level of unique kitchen management (sous chef) and specialists to support the uniqueness of function. As long as the checkbook has a credit balance they are in good shape (until predictable sales slump and cash flow turns the corner). This is very apparent in clubs, resorts, and hotels.

Hotels 426

Hotels Point of Sale Cash Management Training 426

Restaurant365

MARCH 10, 2022

With food costs running at approximately 30% or higher, learning importance of inventory management and how to prevent common mistakes is critical in successfully driving down costs and maximizing profits. First, let’s break down the two types of inventory costing, Actual and Theoretical. Theoretical Variance.

Inventory 78

Inventory Management Management Merchandise 78

Culinary Cues

DECEMBER 17, 2020

There are short-term band aid solutions such as takeout, delivery, or even conversion into retail markets where wine inventories and local necessities take over space once occupied by diners, but they are not a replacement for a steady turn of tables. Even the best operators are at a loss for solutions.

Uniforms 470

Uniforms Cash Management Brewery Consumer Goods 470

Restaurant365

SEPTEMBER 23, 2021

Whether you’re a bookkeeper, accountant, restaurant owner, or store-level manager, understanding the basics of accounting can pay dividends for your business. Healthy accounting procedures for restaurants can help you manage food and labor costs, understand your profits and losses, and make strategic decisions about expenses and investments.

Cash Management 147

Cash Management Point of Sale POS Inventory 147

Modern Restaurant Management

AUGUST 16, 2023

Many food and beverage establishments have seen success with technology — such as contactless options, automation to support changing workforces and innovative customer loyalty strategies — in their endeavors to meet the demand for safer and more convenient dining experiences. Gone are the days of cash-only transactions.

Loyalty Program 167

Loyalty Program Mobile Ordering Dietary Restrictions Point of Sale 167

Restaurant365

DECEMBER 11, 2020

As 2021 begins, there are many restaurant management best practices that can be applied to strengthen your business, in the short and long term. Manage cash flow by creating a cash flow forecast. Your total cash flow is your cash inflows (for restaurant. over a certain period of time.

2021 136

2021 Cash Management Management Management 136

Restaurant365

AUGUST 25, 2020

Comprehending your restaurant cash flow is essential to running your restaurant business. Cash flow refers to the amount of cash coming into your restaurant minus the amount of cash going out on a daily, weekly or monthly basis. Common factors that cause cash flow issues. Too much inventory.

Cash Management 97

Cash Management Seasonal Menu Inventory Email Marketing 97

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 212

2024 Loyalty Program Cash Management Customer Experience 212

Modern Restaurant Management

SEPTEMBER 14, 2022

AI can assist restaurants in optimizing how they manage and operate menus to increase margins. But they have tons of cash to burn on such gimmicks, right? Inventory Management: Integrating inventory with your point of sale (POS) systems is an essential AI capability that every restaurant needs.

Front of House 207

Front of House Mobile Ordering Loyalty Program Back of House 207

Restaurant365

MARCH 5, 2020

From cloud-based POS systems to mobile apps designed to improve employee satisfaction and streamline scheduling, technology is bettering business and changing the landscape of restaurant management. So why is it that alcohol management is lagging? The problem with outdated alcohol management.

Blog 146

Blog Management Management Cash Management 146

Hot Schedules

MARCH 27, 2020

This money will provide cash assistance to tipped restaurant workers, delivery drivers, personal service workers, and others affected by the pandemic and the economic downturn. . If you are a food or beverage service employee who has been diagnosed with COVID-19, apply here. Managing Inventory in the Days of COVID-19.

Employee Relations 148

Employee Relations Cash Management Beverage Restaurant Law 148

Restaurant365

NOVEMBER 18, 2021

Your restaurant orders, receives, and counts food all in one system: your inventory management software. Your inventory management solution measures and stores all the information you need about your food cost. While there are many details surrounding your food cost data, the actual tracking is relatively simple.

Employee Relations 148

Employee Relations Cash Management Point of Sale Front of House 148

Aaron Allen & Associates

MARCH 3, 2022

There are so many things to think about — from inventory management to restaurant payment and billing and more — it can be difficult to keep track of it all. That’s where restaurant management software comes in. In this roundup, we will take a look at some of the best restaurant management software out there.

Management 120

Management Management Mobile Ordering Point of Sale 120

Society Insurance

NOVEMBER 15, 2022

To expedite the process of wrapping up for the night, restaurant and bar owners can turn to a closing checklist that outlines tasks to be completed by front-of-house staff, back-of-house staff, and management. Taking inventory and reporting low-stock items to the chef or manager. Properly securing all cash in a drop safe.

Front of House 97

Front of House Food Safety Cash Management Back of House 97

Lavu

DECEMBER 20, 2019

Under Internal Revenue Service regulations , employees must keep a daily record of the cash and non-cash tips received, either directly or indirectly. amount of cash tips to their employer by the 10th of the following month. Employees must report any non-cash tips on. Inventory Management. Allocating Tips.

Cash Management 78

Cash Management Point of Sale Employee Relations Inventory 78

Restaurant365

JUNE 9, 2020

By generating a budget for your controllable costs , you can create a clearer path for your cash to move. Assessing this movement by ensuring that the budget is maintained and that invoices are entered daily will help you better manage your cash flow each month. Manage your cash flow. One of these costs is labor.

Cash Management 97

Cash Management Management Management Small Business 97

7 Shifts

JANUARY 23, 2020

This advice were submitted by owners and managers of restaurants of all sizes, concepts, and locations in the forthcoming 7shifts Restaurant Labor Management Study in 2020 ( subscribe to get your copy when it’s published!). Manager, Mercato Italiano. Everyone can sell food and beverages, the differentiation is in the details.

2020 335

2020 Hiring Cash Management Education 335

Lavu

JANUARY 21, 2020

Businesses in the restaurant industry generate most of their revenue from selling food and beverages. A small restaurant business will often change its inventory level based on the demands of the customers. Let’s have a look at the major accounting methods used by small restaurants: Cash Accounting Method.

Cash Management 78

Cash Management Point of Sale Small Business Customer Service 78

Lavu

JANUARY 21, 2020

This includes communication of financial statements like income statements, balance sheets, and cash flow. This includes the revenue of the restaurant, cashflow, inventory levels, and income statements. They document all the financial transactions of the restaurant, keeping track of the inventory, cash flow, and income statements. .

Cash Management 78

Cash Management Point of Sale Inventory Information 78

Lavu

MARCH 2, 2020

Doing so helps managers and restaurant owners to make informed decisions and implement profitable strategies. The major functions of BI include data mining, reporting, analytics, online analytical processing, and business performance management. A restaurant analytics system can be built in the restaurant management software.

Cash Management 78

Cash Management Point of Sale Front of House Inventory 78

Crunchtime

FEBRUARY 7, 2024

Historically, operators have relied on paper checklists and field management teams to roll out and enforce their standard restaurant operating procedures and as part of their retail operations management. Standard restaurant operating procedures help staff and leadership do their jobs better and ultimately, make customers happier.

Operations 78

Operations Audits Cash Management Food Safety 78

Xtra Chef

JUNE 16, 2020

xtraCASH is our new product that allows restaurant operators like you to earn as much as 1% cash back on purchases simply by turning invoice capture into insights and cash. Here’s everything you need to know about this exciting product release: Turn Paper Invoices into Cash. Click here to start earning extra cash today!

Cash Management 80

Cash Management Mobile Ordering Document Food Order 80

Modern Restaurant Management

DECEMBER 21, 2022

Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. " – John Oakes, Revenue Management Solutions CEO. Spirit-based, ready-to-drink beverages will continue show vast white space, and bourbon should continue to thrive.

2023 193

2023 Loyalty Program Mobile Ordering Customer Experience 193

Clover - Restaurants

APRIL 23, 2024

An existing restaurant also has an established cash flow, as well as a system in place for managing inventory, staffing, and running the kitchen. There’s no guarantee that employees will stick around for a change of management or if you start changing the operating model. Is the real estate owned or leased?

Point of Sale 52

Point of Sale Cash Management Franchise Franchising 52

Modern Restaurant Management

FEBRUARY 4, 2022

This instability will push operators to trim costs by shortening menus and investing in labor-saving technology to free up cash for wage increases. A short menu can slim down the food costs through streamlined inventory management, as well as reduced food waste. Focus on seasonal produce to ensure peak freshness.

2022 216

2022 Customer Service Online Ordering Website Management 216

Restaurant365

FEBRUARY 19, 2020

Foundational restaurant costs can be divided into: Cost of Goods Sold (CoGS): also known as food cost, the total cost of all food and beverage ingredients your restaurant used during a specific period of time. In order to meet slim margins, restaurant accounting needs to meet high standards for accurate labor and inventory metrics.

Point of Sale 120

Point of Sale Cash Management Inventory Consumer Goods 120

7 Shifts

DECEMBER 8, 2020

Recommended Reading: Restaurant Task Management: How to Communicate Tasks to Staff 4. This one comes from 7shifts’ Client Success Manager, Katy Gonzales, also a hospitality alum (We said there were a lot of us!). Cash , while it might seem like a good idea, can come across as too impersonal in some cases.

Front of House 370

Front of House Social Media Employee Relations Back of House 370

Restaurant365

OCTOBER 30, 2020

As a restaurant owner or manager, sometimes you may need to jump in to help keep business running smoothly. However, the day-to-day tasks can distract from the bigger-picture work that is essential for your long-term business health: restaurant operations management. What is restaurant operations management?

Operations 78

Operations Management Management Inventory 78

Restaurant365

JULY 29, 2021

Strong vendor relationships can help you ensure continuity in product, better pricing, and high-quality standards for inventory. Ultimately, managing your vendor relationships is an area of risk management. Your managers are also likely spending a lot of their limited time trying to fill gaps in staff roles.

Cash Management 78

Cash Management Point of Sale Inventory Loyalty Program 78

Lavu

JANUARY 21, 2020

Every restaurant owner and manager needs to review this report on a daily basis to get a picture of how the restaurant is performing. The report provides valuable information on the restaurant’s sales, taxes, tips, discounts, credit card fees, refunds, comps, cash short or over, and more. Cash Flow Forecast (Weekly Report).

Cash Management 78

Cash Management Point of Sale Information Beverage 78

Xtra Chef

SEPTEMBER 14, 2020

This product release includes the debut of Waste Tracking for Inventory Management users, updates to xtraCASH and Sync, and some new features to look for in the Vendor Hub and Purchasing & Ordering Management. Inventory Management users, meet Waste Tracking! The updates are now live for all xtraCHEF customers.

Waste 88

Waste Cash Management Online Ordering Inventory 88

The Restaurant Times

AUGUST 5, 2022

Successful restaurant accounting can help in efficient cash management, balancing financial books, optimizing costs, and overall business planning. For a restaurant business, it is the cost of all the ingredients that are involved in preparing the food and beverage items during a particular time. . Cash Flow Statement.

Cash Management 52

Cash Management Point of Sale Inventory Employee Relations 52

Restaurant365

OCTOBER 22, 2021

Even if you use restaurant management software to automatically pull much of this restaurant data, understanding the calculations behind your operational restaurant reporting can help you place these numbers in context. An accurate CoGS relies on up-to-date numbers from your inventory management system. Conclusion.

Point of Sale 78

Point of Sale Insurance Inventory Cash Management 78

Squirrel Systems

MAY 25, 2021

From its origins as a cash register in the late 1900s – capable of simply recording sale amounts and summing up total sales for a day; the point-of-sale (POS) system has evolved into a sophisticated restaurant management system – that does much more than simply recording transactions!

POS 52

POS Loyalty Program Cash Management Point of Sale 52

Bar and Restaurant Coach

MARCH 16, 2019

The following guest post is from Frankie Merriam, Managing Partner at Olde Towne Tavern near Atlanta. At least that’s what my mentors told me when I was trying to grasp the concept of inventory and menu costing years ago. Whatever the case may be, each business needs to identify this before looking at inventory or costing.

Cash Management 104

Cash Management Inventory Coaching Bar 104

The Restaurant Times

MARCH 31, 2022

Food and Beverage (F&B) cost is one of the most significant cost components for any restaurant, and it ranges between 20% to 35% of the revenue depending on the restaurant-style. The well-established restaurants usually have a separate department to look after and maintain everything related to food and beverages costs.

Cash Management 52

Cash Management Inventory Employee Relations Technology 52

BNG Point of Sale

AUGUST 19, 2021

Food and drink inventory costs need to include the ingredients costs per meal or per drink. To calculate your CoGS, take your starting inventory amount plus the cost of that inventory and subtract your ending inventory amount. . Prime Cost : This is the sum of the labor, food, and beverage costs.

Cash Management 52

Cash Management Point of Sale Inventory Food Truck 52