ChowNow

APRIL 15, 2025

Cost of Goods Sold (COGS) Cost of Goods Sold tells you how much it actually costs to make the food and beverage sales you sell. This includes kitchen ingredients, beverages, and packagingbasically, all of your raw materials. If youre only going to track a handful of key performance indicators, start with these.

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Lavu

JUNE 26, 2025

It includes all the cost incurred on food and beverage, payroll, taxes, and benefits). The cycle starts with the buying of a meal by a customer, with the transaction being recorded by the POS system. This information can be transferred to an accounting journal, and later recorded in a general ledger for financial report preparations.

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2025 Cash Management Point of Sale POS 113

SpotOn

JANUARY 15, 2025

To get started, you just need a little bit of information. Like entrees, beverages, sides, or appetizers. With an integration between my POS and inventory management software, we were able to cut down at least 20 hours a week on inventory alone. This should be in your POS reporting. And it's free.

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Menu Online Ordering Website Management Inventory 81

Lavu

MARCH 17, 2025

Leverage POS Systems : Tools like Lavu POS automate inventory tracking, reduce order errors, and provide real-time insights. Tools like Lavu POS make this easier by automatically tracking ingredients (like chicken, buns, and lettuce) for every sale. Small changes can make a big impact in an industry where every cent counts.

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Food Waste Seasonal Menu Inventory 78

7 Shifts

NOVEMBER 15, 2024

Check their ability to suggest appetizers, beverages, or desserts that complement the meal as well. If you need your new waiters and waitresses to be deployed quickly, look for candidates who have used common restaurant tools like POS systems, inventory management software, and communication platforms. What did you do?

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Clover - Restaurants

DECEMBER 12, 2024

With the right information, you can improve your happy hour drink specials to match your customers preferenceswhether they prefer craft cocktails, local beers, or classic bar drinks. A well-informed and enthusiastic staff can make a huge difference in sales and customer satisfaction. Are they looking for budget-friendly options?

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Lavu

APRIL 17, 2025

Tools like Lavu make it simple to adopt and use, offering features like automated stock updates, low-stock alerts, and integration with POS systems. Integration breaks down data silos, allowing systems like POS, kitchen displays, and accounting software to share information efficiently.

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Perfect Daily Grind

JUNE 27, 2025

This supports informed in-house roasting investment decisions and margin improvement. Kampala, Uganda) Research Wed, 25 Jun – Westrock Coffee publishes convenience store beverage report. A proprietary study found that beverages are the primary reason consumers visit convenience stores, with coffee being the leading choice.

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Lavu

APRIL 25, 2025

Poor inventory tracking costs restaurants up to $600/month on beverages , but mobile tools reduce waste, prevent overstocking, and improve real-time decision-making. These systems integrate with POS platforms, streamline operations, and help restaurants maintain profitability.

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Inventory 2025 Management Management 78

The Restaurant Group

APRIL 18, 2025

Unique Features of Restaurant Accounting Restaurant accounting encompasses all financial activities of a restaurant or restaurant group, from accurately recording purchases and ongoing expenses to creating financial reports that allow owners to make decisions quickly based on up-to-the-minute information.

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Paper Chase Accountancy

JULY 25, 2025

Point-of-Sale (POS) Integration: Seamless integration with POS systems is critical for capturing sales data, managing inventory in real-time, and ensuring accurate revenue reporting. For restaurants, it might mean analyzing peak hour sales per cover or average check size to inform menu pricing.

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Hospitality Cash Management Tip Distribution Seasonal Menu 52

SpotOn

DECEMBER 27, 2024

When loyalty integrates with the POS it makes for smooth checkout transactions. Use restaurant POS reporting to make sure your free item redemptions are within the allocated monthly budget and that the loyalty customer spend makes up for the free food rewards. Or would your customers prefer a free dessert or free beverage?

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Lavu

JUNE 6, 2025

Once you have gathered all the information, you can create a formula that considers the ingredient cost, portion size, yield percentage, labor cost, overhead cost, and markup percentage to calculate the total food cost for the recipe or dish. Markup Percentage: Decide on a markup percentage to include if you want to factor in profit margin.

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Loyalty Program Waste Recycling Inventory 78

Lavu

JULY 18, 2025

Use the information gathered to avoid many potential pitfalls and capitalize on winning tactics to optimize your planning process. By gathering a team of experts to advise you while creating your restaurant business plan, you’ll garner invaluable information that may not have occurred to you otherwise. So what is a business plan?

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Clover - Restaurants

JUNE 30, 2025

In this blog post, we will explore the key restaurant technologies you can integrate into your hospitality business, including Checkless Payments, Floor Cues, and handheld point-of-sale (POS) systems, to transform your operations and boost your bottom line. Some benefits of handheld POS devices include : Resource optimization.

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Paper Chase Accountancy

MAY 22, 2025

This can reduce errors, save time, and provide real-time information for better decision-making. Analyzing Labor Costs Regularly: Regular reviews of labor costs can identify trends, pinpoint inefficiencies, and inform decisions about staffing and scheduling. 2 Cross-reference this data with POS system records.

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Cash Management Franchise Franchising Tip Distribution 52

SpotOn

MARCH 21, 2025

Better yet, if you regularly create restaurant P&L statements , you can pull the information directly from your P&L. If you're using premium ingredients, upscale tableware, and exclusive alcoholic beverages to create an experience guests are willing to shell out the big bucks for, you can charge higher prices.

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Paper Chase Accountancy

JUNE 16, 2025

This ratio offers insight into the restaurant’s operational efficiency and aids in making informed decisions. To effectively manage the prime cost ratio, consider these strategies: Regularly track food and beverage costs. Integrating these tools with your POS and financial reporting platforms enhances real-time insights.

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Hotels Hospitality Cash Management Restaurant Law 93

Paper Chase Accountancy

JUNE 16, 2025

This ratio offers insight into the restaurant’s operational efficiency and aids in making informed decisions. To effectively manage the prime cost ratio, consider these strategies: Regularly track food and beverage costs. Integrating these tools with your POS and financial reporting platforms enhances real-time insights.

Hotels 93

Hotels Hospitality Cash Management Restaurant Law 93

Paper Chase Accountancy

JUNE 30, 2025

Key Takeaways Understanding hospitality accounting is crucial for efficiency, profitability, and making informed business decisions in restaurants and bars. Their expertise aids in understanding accounting in the restaurant industry, which, in turn, helps in making informed business decisions.

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Bar Cash Management Hotels Inventory 93

Clover - Restaurants

JUNE 30, 2025

With the right POS system , it’s now possible to automate this record keeping regardless of the channels through which money enters or leaves your restaurant. The dashboard on your restaurant POS system can give you a more accurate snapshot of your business’s financial health at a glance.

Employee Relations 52

Employee Relations Seasonal Menu Online Ordering Loyalty Program 52

Paper Chase Accountancy

MAY 21, 2025

Point-of-Sale (POS) System Integration: Seamless integration of POS data into accounting systems is crucial for real-time sales tracking, accurate revenue recognition, and identifying trends. Tip Management and Reporting: Ensuring accurate calculation, distribution, and reporting of tips for compliance and employee satisfaction.

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Hospitality Sustainability Cash Management Hotels 52

SpotOn

DECEMBER 30, 2024

Gross profit margin subtracts only the Cost of Goods Sold (COGS) to determine the profitability of your food and beverages, while net profit margin subtracts all your costs to determine the profitability of your entire operation. You should be able to find this data in your POS reporting. Labor costs. Overhead costs.

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Paper Chase Accountancy

MAY 30, 2025

It’s the invisible framework that supports informed decision-making, ensures regulatory compliance, and illuminates the path to sustained growth. Daily Bookkeeping Tasks Sales Reconciliation: Compare daily POS (Point of Sale) reports (cash, credit card, gift card sales) with actual cash deposits and credit card settlements.

Bar 52

Bar Cash Management Point of Sale Back of House 52

Paper Chase Accountancy

JULY 24, 2025

It’ll help you stay on top of your cash flow and make informed decisions. You need someone who understands the nuances of the food and beverage industry, can navigate the intricacies of payroll and inventory, and who’s committed to helping your business thrive. Trustworthy: They’ll be handling sensitive information.

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Book Cash Management Hotels Hospitality 52

Paper Chase Accountancy

MAY 20, 2025

Key Takeaways Restaurant bookkeeping requires specialized tools and systems, including management software, POS systems, and a well-structured chart of accounts. They help restaurant owners manage their finances effectively and make informed decisions. Payroll Service: This simplifies the process of paying employees and filing taxes.

Cash Management 52

Cash Management Hotels Hospitality Point of Sale 52

Paper Chase Accountancy

JUNE 2, 2025

Technology, like integrated POS systems and mobile apps, can enhance tip tracking efficiency and reduce errors. Large Food or Beverage Establishment : Businesses with more than 10 employees on a typical business day during the preceding calendar year fall under this category and have specific rules.

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Tip Distribution Audits Cash Management Restaurant Law 52

Paper Chase Accountancy

JULY 7, 2025

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. Outsourced bookkeeping provides restaurant owners with reliable financial information, enabling them to make informed decisions.

Cash Management 52

Cash Management Hotels Restaurant Law Small Business 52

Restaurant Engine

MAY 14, 2025

Many platforms also integrate with your POS system so you can : Track points in real-time. With a mobile app, you also have access to a goldmine of data to inform your marketing strategy and menu development. Have information about your loyalty program at your host stand, the bar, checkout area, in a table tent, on receipts, and menus.

Loyalty Program 52

Loyalty Program Website Management Point of Sale Customer Experience 52

Paper Chase Accountancy

JULY 21, 2025

Restaurants and bars, on the other hand, primarily focus on food and beverage income but also need to account for tips and gratuities. These services provide essential data and insights that allow restaurant owners and managers to make informed decisions. Implementing cost control measures and identifying areas of potential savings.

Hospitality 52

Hospitality Cash Management Hotels Point of Sale 52

Modern Restaurant Management

DECEMBER 17, 2024

From inventory management to predictive labor scheduling, AI tools will help restaurants cut costs and adapt in real-time, while providing operators valuable data to help inform business decisions. Even though AI tools can’t peel an avocado or make rice balls for sushi, AI definitely will be entering the kitchen more in 2025.

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2025 Back of House Front of House Customer Experience 419

Paper Chase Accountancy

JULY 3, 2025

As accountants for hospitality, they help businesses navigate financial regulations, manage assets, and make informed investment decisions. Revenue Management : Hospitality accounting involves tracking multiple revenue streams, such as rooms, food, and beverage sales. Accurate record keeping ensures optimal pricing strategies.

Hotels 52

Hotels Hospitality Cash Management Customer Service 52

Paper Chase Accountancy

JUNE 5, 2025

Accounting for restaurants and bars often requires tracking numerous revenue streams, from food and beverage sales to event hosting. Strong communication skills : They should be able to convey complex financial information clearly and concisely. An accurate record helps in making informed decisions and identifying trends.

Hospitality 52

Hospitality Cash Management Hotels Restaurant Law 52

Modern Restaurant Management

MARCH 26, 2020

At a time when most food and beverage leaders wouldn’t consider launching a new concept without a deep dive into the data, most lack even basic information about technology maintenance that could drive cost-saving, satisfaction-enhancing change. As the industry gets on the road to recovery, this will be more important than ever.

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Technology Guest Recovery Equipment Customer Experience 546

Modern Restaurant Management

MAY 1, 2023

One study found that in 2016, the food and beverage industry accounted for ten percent of all data breaches. First, they typically store significant customer and employee data, including names, addresses, and credit card information. For example, POS systems have proven to be particularly vulnerable.

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Insurance Employee Relations Email Marketing Customer Experience 508

Modern Restaurant Management

JANUARY 18, 2022

You can make data-informed decisions about where to put your resources and when. Historical sales levels can indicate what food, beverages, and supplies you need to buy for the next comparable sales period. Check your inventory against data collected by the POS. Forecasting is using historical data to predict key metrics.

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Inventory Food Order Food Supply POS 531

Modern Restaurant Management

JUNE 30, 2020

In fact, the illustration below was based on POS data collected from a Starbucks cash register in Chicago, plus time and motion studies conducted by the lean team. For this hour, the barista might work the two-beverages-at-once cycle. They would remain focused only on that task.

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