article thumbnail

10 Cash Flow Management Best Practices for Restaurants

Lavu

No matter the size of your restaurant, one truth remains: cash flow is king. Restaurant cash flow management is the lifeblood of your business. Yet, while most small business owners know this truth, many still struggle with basic cash flow definitions, fundamentals, and management strategies that actually maximize benefits.

article thumbnail

How to Manage Cash Flow During Restaurant Restrictions

Restaurant365

Tracking and understanding your restaurant’s cash flow is essential, whether business is booming, or times are tough. A healthy, positive cash flow is necessary to pay your bills and grow sales. Monitoring your cash flow is more important than ever during the COVID-19 outbreak. How to calculate restaurant cash flow.

Insiders

Sign Up for our Newsletter

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

Trending Sources

article thumbnail

What to know about New Jersey tip laws

7 Shifts

A modern restaurant management system can help with compliance. A tip is any money (or indicated portion of a credit card charge) a customer leaves beyond the cost of products, services, and tax. The customer must be allowed to choose the amount. The customer must be in control of who receives the money.

article thumbnail

What To Know About New Jersey Tip Laws

7 Shifts

A modern restaurant management system can help with compliance. A tip is any money (or indicated portion of a credit card charge) a customer leaves beyond the cost of products, services, and tax. The customer must be allowed to choose the amount. The customer must be in control of who receives the money.

article thumbnail

TWENTY COMMON MISTAKES INDEPENDENT RESTAURATEURS MAKE

Culinary Cues

Every business requires controls in pricing, consistency, quality, and cash handling. All of the tools are available for inventory control, purchasing systems, cash handling, costing templates, and quality assessment. Social media is very inexpensive, but someone needs to effectively manage it every day and every way.

article thumbnail

Compare: Digital Tip Payouts vs. Cash Tip Payouts in Restaurants

7 Shifts

Restaurant transactions have been moving away from cash and towards electronic forms of payment for years—and that's extending to tips now too. While this is convenient for customers, what are the implications for restaurants—and is this good for employees? Most notably with how the bills get paid.

article thumbnail

Texas Restaurant Tip Laws: Understanding Tip Credits, Taxes, Service Charges and More

7 Shifts

Texas tip laws are less complex than most other large states, but no less important to get right: Just ask one Texas barbecue restaurant, which the Department of Labor fined $867,000 , after they improperly withheld tips from employees and paid them out to managers instead. Management is a different story.