Stop Fumbling Over Cash on Super Bowl Sunday: Key Considerations to Keep Cash Safe

Modern Restaurant Management

Events like the Super Bowl bring an influx of cash to establishments of all sizes, some of which might not have the right cash logistics system in place. When managing an influx of cash, there is an increased chance of risks for cash mismanagement.

Restaurant Cash Flow Management

Chef's Resources

4 Proven Strategies for Restaurant Cash Flow Management Proper restaurant cash flow management is critical for success. When it comes to cash flow, restaurants are unique from most other business segments.

Insiders

Sign Up for our Newsletter

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

Trending Sources

Cash Will Still Be on QSR Menus

Modern Restaurant Management

Last year, one of the first brands to go cashless, Sweetgreen, changed its policy to accept cash at all its locations. The quick-service restaurant (QSR) started accepting cash after Amazon confirmed it would take cash payments in all of its previously cashless Amazon Go stores.

How Restaurants Can Overcome any Potential Cash Flow Issues from COVID-19

Modern Restaurant Management

As the crisis continues, restaurants need to evolve their business operations to keep running and make long-term plans to keep cash coming in. Since we don't know how long this crisis will last, the first thing restaurants need to do is take a 360-degree look at their cash flow.

Four Ways to Take Charge of Your Restaurant Cash Flow

Modern Restaurant Management

Small business owners in nearly every industry struggle with cash flow and how to best utilize their working capital. Nearly 60 percent of failed businesses cite cash-flow issues as a primary reason for their failure, which shows how cash flow management can make or break your business.

Tips to Overcome Your Restaurant’s Cash Flow Crisis

Modern Restaurant Management

According to a study, 82 percent of small businesses fail due to cash flow problems. A cash flow shortage occurs when more money is flowing out of the business than is flowing into it. During a cash flow shortage, you might not have enough capital to cover your payroll or other operating expenses. When there is no proper plan or strategy in place for handling cash flow shortage, a cash flow crisis occurs. Finance Operations cash flow managing cash flow

Can we talk about cash?

Ken Burgin

With many cafes and restaurants reporting up to 80% of sales being made on card, the traditional informal cash transactions and ‘owner’s cash bonus’ have become much more difficult to manage. The electrician who always comes immediately because he’s paid cash.

Restaurant Payments Go from Cash to Credit to Contactless – to Cryptocurrency 

Modern Restaurant Management

And Bloomin’ Brands has experimented with a blockchain solution that helps manage supplies in the case of a food safety–related recall. If you are not reading this article on Modern Restaurant Management , please reconsider your reading choices and visit the original source.

Your Guide to Reduce Dead Stock and Improve Cash Flow

Sculpture Hospitality

His advice here is crucial to reducing dead stock and improving your cash flow. Bar Management Stocking a Bar Restaurant OperationsThe following article was written by one of our top industry experts, Gareth Hollows.

9 Restaurant Cash Flow Tips for Your Recovery and Beyond

Restaurant365

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.

Prevent loss with QSR cash drawer procedures: 5 simple rules

Rocket Fuel

Employee theft is a big concern for restaurant owners and operators, and much of that theft happens in the cash drawer. Let’s face it: when people work with cash all day, they’re going to be tempted by it ( especially if they’re not well-incentivized ).

6 things to consider when looking at your business cash flow

Typsy

Cash flow refers to the money that is moving in and out of your business each month. In this blog post, guest contributor Justin Weigner shares with you six tips to help you understand where your cash is flowing. Hotels Hospitality managers Restaurants

POS System Vs Cash Register: What’s The Difference?

BNG Point of Sale

POS System Vs Cash Register: What’s The Difference? . A cash register, at its most basic level, is designed to record the transactions of sales that occur in a store.-for POS System Vs Cash Register . What Is A Cash Register? . Manage your inventory .

Cash Registers in a Cashless Society — have Tills gone Nil?

Kounta

And as the era of cash comes to an end, our mind wanders to the till. Early cash registers were a sight to behold; and their innovations, remarkable. Swindled but unhindered, James Ritty, a saloon owner, built the first-ever cash register in 1879.

Restaurant Management Software: A Comprehensive Roundup

Aaron Allen & Associates

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. Restaurant Inventory Management. Restaurant Labor Management.

Administering and Keeping Cash Safe | Season 4, Vol. 9: Recine Hospitality

Foodable

Listen to "Administering and Keeping Cash Safe | Season 4, Vol. Recine recently developed a new cash register system inspired by ATMs. At the point you put the cash in, it’s deposited to your bank. No employee or manager will have to touch it,” adds Recine. “It’s

How Bar Managers Can Better Manage Pour Cost

Focus POS

It’s more crucial now than ever to manage pour costs effectively. . To incentivize bar operators to order more in bulk, many will offer buy-in-bulk deals and specials on bulk orders, which can end up saving you significant cash.

10 Reasons Why POS Systems Are Better For Restaurants Than A Cash Register

BNG Point of Sale

What Are The Benefits Of a Restaurant Management System? Cash registers are still part of the equation, but today’s systems allow for greater flexibility in order taking and back-end organization and improved sales analytics. 5 Restaurants POS Systems For Back-end Management.

Why Bar Inventory Management is Crucial to Post-Pandemic Success

Sculpture Hospitality

Since the beginning of the COVID-19 pandemic, bar owners around the world have learnt a number of lessons about managing their businesses during challenging times. Perhaps no lesson, however, has been as important as understanding cash flow.

Should Restaurants Go Cash-Free?

Single Platform

Cashless restaurants do not accept cash payments and instead require customers to use credit cards, debit cards, cash cards, or contactless payment systems. So, should your restaurant go cash-free? First, it’s safer for restaurants to not have large sums of cash on site.

Mitigating Cost Price Inflation Via Supplier Management

Hot Schedules

Mitigating Cost Price Inflation Via Supplier Management. Not only does this deliver greater control, but negotiated rates also help avoid the inevitably higher costs that come from buying with petty cash. All Posts Inventory Management

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. Front-of-house (FOH) management.

Should Restaurants Go Cash-Free?

Single Platform

Cashless restaurants do not accept cash payments and instead require customers to use credit cards, debit cards, cash cards, or contactless payment systems. So, should your restaurant go cash-free? There are some clear reasons that more and more restaurants have been ditching cash. First, it’s safer for restaurants to not have large sums of cash on site. If you don’t have cash, you’re far less likely to be robbed. The post Should Restaurants Go Cash-Free?

Order Up! Offer Financial-Based Incentives to Tackle Staffing Challenges 

Modern Restaurant Management

These tools offer employees an easy and secure way to manage their wages, even if they don’t have bank accounts. Educate and Engage: Offer financial literacy education to help staffers understand and use skills that include budgeting, managing money, paying off debt and investing.

Your Go-To Guide for Restaurant Inventory Management

7 Shifts

Both situations could have been prevented with proper restaurant inventory management, which gives restaurant operators better oversight over what's in stock and how it is used. The Best Restaurant Inventory Management Software. Choose The Right Inventory Management System.

How to Develop a Restaurant Management Plan

The Restaurant Expert

A restaurant management plan is your written strategy for how to get your restaurant to where you want it. This restaurant management plan is a tool that translates ideas (I should or I’ll try to) into action (I am). In developing your plan for improving your restaurant operation, remember these helpful tips: Study every aspect of what you want to implement – does it fit with your management style and goals. Benefits of a restaurant management plan.

How Systems Hold Managers Accountable

The Restaurant Expert

They said they wanted ALL of their systems tied together and more importantly wanted to hold their management team accountable … and that they wanted a solution. And that’s how our restaurant management software, Restaurant Systems Pro, was born. A restaurant manager who is OVER PAID!

Tip Pooling Tools to Easily Manage Tips at Your Restaurant

7 Shifts

Tips are a huge part of restaurant compensation and tip pooling is often so complex it becomes a part-time job worth of work for managers. Restaurant managers can spend up to 8 hours a week calculating tips with traditional methods.

Resources To Provide Relief To Cash Strapped Restaurants During Covid Crisis

The Restaurant Times

The NRAI has developed this program entirely keeping in mind the current plight of its members and the employees” says Gauri Devidayal, NRAI Managing Committee Member. The Virtual Cash facility will be valid for a period of six months from the date of purchase.

Seven Traits of Successful Restaurant Owners and Managers

7 Shifts

This process includes focusing on your daily finances , such as cash flow, payroll, and inventory. Invest in Technology Accounting and inventory management software are just a couple of the technologies that small business owners should invest in.

How To Streamline Restaurant Manager Duties In The UAE

The Restaurant Times

If your head chef is responsible for managing the kitchen and producing great food, the restaurant manager is accountable for the smooth functioning of the establishment and many other duties. Tips To Streamline Restaurant Manager Duties In The UAE. Resource Management .

How to Improve Team Communication with Restaurant Staff and Management

7 Shifts

You would think something as second nature to people as communication would be easy to manage in the workplace. Communication is the key to facilitating productive relationships between managers and employees. Keeping your staff in the dark about upper management decisions.

How To Formulate A Restaurant Manager Job Description

The Restaurant Times

However, the team can only achieve the desired outcome if headed by a potent restaurant manager. Hence, a restaurant manager is an integral part of a restaurant business and plays a crucial role in steering its direction, which is why their job description must be adeptly formulated.

What Restaurant Groups Need to Know about Managing Prescription Drug Expenditures

Modern Restaurant Management

Please send questions to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com. This choice becomes a cash flow issue. Managing the Member Expenditure. These are best managed under the medical plan.

Restaurant Management Software: Everything You Need To Know

The Restaurant Times

Restaurant operations, as we know them, are being totally upended by innovation and technology and when used correctly, restaurant management software is a sure-fire approach to assure a restaurant’s success. . Here is all you need to know about restaurant management software.

5 Tips for Maximizing Restaurant Operations Management

Restaurant365

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.

Managing Risks for Acts of Violence on Restaurant Property

Modern Restaurant Management

Some examples could include: healthcare organizations, organizations with political or ideological agendas, news media organizations and businesses that deal with significant quantities of cash. Managing foreseeable risk = covering the basics.

How to Develop a Restaurant Management Plan

Smart Systems Pro

A restaurant management plan is your written strategy for how to get your restaurant to where you want it. This restaurant management plan is a tool that translates ideas (I should or I’ll try to) into action (I am). In developing your plan for improving your restaurant operation, remember these helpful tips: Study every aspect of what you want to implement – does it fit with your management style and goals. Benefits of a restaurant management plan.

11 Restaurant Management Best Practices to Maximize Your Performance in 2021

Restaurant365

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.

Restaurant Accounting Concepts Every Manager Should Know About

Lavu

As the owner or manager of a restaurant, when you’re aiming to grow profitability, accounting is an area where you need to be comfortable. It might be considered the most dreaded part of running your business, but to be profitable and to manage the money, there’s no way it can be avoided. Use our restaurant management software to keep an eye on variable costs and study their changes. Accounting Management metrics & finance