Remove Blog Remove Cash Management Remove Tip Distribution
article thumbnail

Monthly Restaurant Accounting: Tax and Financial Tips 

Paper Chase Accountancy

Embracing a monthly accounting cycle allows restaurateurs to stay perpetually ahead of tax obligations, identify and manage expenses proactively, and arm themselves with the real-time data needed for astute operational decision-making. Professional tips for hospitality accounting that directly contribute to sustained business growth.

article thumbnail

28 Strategies to Cut Costs in the Restaurant Business

Lavu

This guide breaks down 28 proven strategies that help cut unnecessary expenses, streamline operations, and boost profitability—whether you manage a small café or a multi-location chain. Discovering new ways to reduce costs in restaurant management can boost profits. However, this cost cutting tip is crucial.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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

Paper Chase Accountancy

They require specialized support that understands the intricacies of fluctuating revenues, high labor costs, and complex inventory management. This volatility makes accurate forecasting and consistent cash flow management incredibly challenging.

article thumbnail

Minimum Wage Updates: January 2022

Hot Schedules

To ensure you stay compliant, we’ve compiled every jurisdiction upping their minimum wage, tip credits, and/or tipped cash wage rates starting January 1, 2022. To ensure you stay compliant, we’ve compiled every jurisdiction upping their minimum wage, tip credits, and/or tipped cash wage rates starting January 1, 2022.

2022 148
article thumbnail

Restaurant Payroll 101: Everything You Need to Know

Restaurant365

You can’t run a restaurant without employees, which means that processing payroll is an essential task for restaurant owners, operators, and managers. Payroll is the process through which a business calculates and distributes wages to employees. Who qualifies as a tipped employee?

article thumbnail

How to Calculate and Optimize Your Restaurant Payroll Percentage

Restaurant365

Your payroll is the process of calculating and distributing wages to your employees. The restaurant industry faces a lot of industry-specific regulations on payroll, with laws regulating hourly employee scheduling and tipped wage workers, as well as compliance with the Affordable Care Act regarding seasonal and variable hour employees.

article thumbnail

Ultimate Guide to Restaurant Management Software

Lavu

Understanding Restaurant Management Software. Among the technology offered today is restaurant management software. . If you’re in the beginning stages of looking for a restaurant management system , you might have multiple questions or concerns. Why do you need restaurant management software?