Paper Chase Accountancy

JULY 10, 2025

Did you know that nearly 60% of new restaurants fail within the first year, often due to poor financial management? Understanding the basics of accounting can significantly improve a restaurant’s odds of success. Let’s take a closer look at this critical aspect of running a profitable restaurant business.

Cash Management

Paper Chase Accountancy

JULY 30, 2025

Consider a bustling city hotel, its rooms booked solid and restaurant brimming with diners. Key Takeaways Hospitality bookkeeping services cater to unique financial needs, including specialized revenue tracking and inventory management. The busy day-to-day operations can often overshadow the importance of diligent bookkeeping.

Hospitality

Paper Chase Accountancy

JUNE 5, 2025

Key Takeaways Finance is vital in the hospitality industry, with specialized accounting practices for hotels and restaurants. It’s essential to acknowledge that accounting in the restaurant sector is more intricate than it appears at first glance.

Hospitality

Paper Chase Accountancy

JULY 15, 2025

It’s even more pertinent when operating in a dynamic city like Los Angeles, where local tax laws and financial regulations can be complex. Specialized bookkeeping services for LA restaurants ensure accurate tax filings and help avoid costly mistakes. The value of local expertise in bookkeeping can’t be overemphasized.

Audits

Paper Chase Accountancy

JULY 18, 2025

Bookkeeping services in Los Angeles are instrumental in helping businesses navigate the intricacies of restaurant tax in Los Angeles and other industry-specific financial obligations. They ensure accurate reporting of Los Angeles restaurant tax, meeting all local and state guidelines.

Management

7 Shifts

APRIL 29, 2021

Nearly 6 weeks after the American Rescue Plan was signed into law, the Restaurant Revitalization Fund is a reality. billion in grants for restaurants to use to cover everything from payroll to rent. Get your documents ready (more below). This includes: Restaurants. Food and beverage inventory.

Restaurant Law

7 Shifts

AUGUST 10, 2020

This is the restaurant back office in its natural state – but not at all at its finest. Even though the practice of restaurant management continues to move digital, the physical space of your restaurant back office still needs to be organized.

Document

Modern Restaurant Management

MAY 2, 2023

An audit can also be a powerful tool that can help you improve the financial health and profitabilit y of your restaurant. How to Conduct a Successful Restaurant Audit First, take stock of the following areas of your restaurant business: Cleaning and Sanitation It’s difficult to overstate the importance of sanitation for restaurants.

Audits

7 Shifts

SEPTEMBER 16, 2021

Managing multiple restaurant locations is a good challenge to have. But to be clear, multi-location restaurant management is challenging. Whether you’re managing multiple restaurants right now or are thinking about expanding your current business , this guide has everything you need to run more than one restaurant at once with success.

Management

7 Shifts

APRIL 25, 2022

Making decisions for your restaurant without business intelligence is like trying to run a sushi restaurant without fish — without it, you aren't going to stay open for very long. It's what separates the restaurants that survive from the restaurants that thrive. Getting value from restaurant business intelligence.

Operations

Modern Restaurant Management

JANUARY 27, 2020

It’s been five years since you opened your first restaurant. One day someone approaches you about buying the right to open one of your restaurants in a nearby city. What does it really mean to franchise your restaurant? Business is great and customers keep coming back for more. It sounds intriguing, but where do you begin?

Franchising

Modern Restaurant Management

APRIL 21, 2020

Food and Drug Administration (FDA) has issued two temporary food labeling guidance documents that attempt to balance industry supply and demand during the novel coronavirus pandemic. Labeling on Packaged Food Sold by Restaurants and Food Manufacturing Facilities.

Menu

7 Shifts

MAY 23, 2024

Every manager aims for maximum operational efficiency in their restaurants, but achieving this isn't easy, with the industry's success rate recorded at only 20%. This is where developing a comprehensive restaurant operations plan comes in. This is why 62% of managers feel burnt out , especially on days leading to peak seasons.

Operations

7 Shifts

NOVEMBER 19, 2019

Before restaurants can record a profit, they need to take several expenses into account—inventory, kitchen equipment, building utilities, and of course, labor. What is Restaurant Labor Cost Percentage? Restaurant Labor Cost Percentage = ($81,000) ÷ ($300,000) x 100%. Restaurant Labor Cost Percentage =.27

Management

7 Shifts

SEPTEMBER 16, 2024

Selling a restaurant can be a major decision for many reasons. One of the main reasons is to cut losses due to financial challenges, with 52% of restaurant owners saying high operating and food costs are really cutting into their profits. If restaurants in your area sell at a multiple of 2.5

2024

7 Shifts

JULY 16, 2021

See why 500,000+ restaurant pros choose 7shifts for scheduling and team management. Recommended Reading: 15 Restaurant Metrics to Know and How To Use Them. That's the idea behind crowdfunding, which has enabled many restaurants to open their doors. Shopping malls. Neighborhood shops. College campuses / school zones.

License

7 Shifts

JULY 1, 2024

From choosing a concept and securing the necessary documentation to hosting your grand opening, we've outlined the complete process of opening a bar. However, note that bar profit margins vary due to various factors like tax rates, licensing laws, customer demographics, and the cost of living in your area. How profitable is a bar?

Bar

Restaurant365

NOVEMBER 30, 2021

As explored in Part 1 of this blog series, your payroll accounting systems overlap with many different parts of your restaurant business. For those new in the payroll field as well as industry veterans, the restaurant industry can come with unique challenges for running payroll. Restaurant payroll follows these accounting cycles.

Restaurant Law

7 Shifts

MARCH 10, 2022

Restaurant technology has revolutionized the way that restaurants are managed - replacing arduous and tedious task management with efficiency, automation, and clarity. In 2022, there aren't many areas in restaurant management that can't be made better with technology. Top Restaurant Management Apps. Try 7shifts for Free.

Management

Hot Schedules

MARCH 27, 2020

Relief Funds Raising Money to Help Restaurant Employees. Nonprofit organizations across the country are accepting donations to support restaurant employees impact by Coronavirus (COVID-19). The One Fair Wage campaign is a non-profit that advocates against sub-minimum-wage laws for tipped service industry workers.

Employee Relations

Restaurant365

JUNE 4, 2020

If signed into law by the President, this Act would, among other changes, extend the 8-week Covered Period to 24 weeks. If signed into law by the President, this Act would, among other changes, allow for up to 40% of the loan amount to be used for non-payroll costs. Headcount reductions are common within the restaurant industry.

Blog

Restaurant365

AUGUST 19, 2020

Successful restaurant owners and operators don’t just provide great food. The people piece of the puzzle can be challenging for restaurants. Because of the complicated nature of human resources (HR) and the sprawling regulations surrounding payroll, HR and payroll can be a recurring headache for restaurant owners and operators.

Restaurant Law

Hot Schedules

MARCH 31, 2020

The new law is a $2 trillion economic stimulus package designed to repair the economic damage caused by COVID-19 and provide additional protection to individuals and businesses who may lose income due to the pandemic. Employers should keep documentation to show that employees who received leave were actually in need of leave.

Website Management

Modern Restaurant Management

JANUARY 15, 2021

This edition of MRM Research Roundup features restaurant industry year-end totals, how restaurant labor is evolving, fast-food brand intimacy and top cities for locavores. For full-service restaurants now, it’s about government restrictions. An Unpopular Year.

2021

Restaurant365

DECEMBER 11, 2020

The year 2020 prompted enormous changes in the restaurant industry. The events of this year made running a lean, streamlined restaurant business a necessity to survive the many shifts. As 2021 begins, there are many restaurant management best practices that can be applied to strengthen your business, in the short and long term.

2021

Restaurant365

NOVEMBER 18, 2021

How you run and track your payroll accounting has a significant impact on restaurant operations. From hiring and onboarding to running employee payments and paying taxes, payroll touches on many different parts of a restaurant business. Tracking labor and payroll data for restaurant employees.

Employee Relations

Hot Schedules

OCTOBER 28, 2019

With labor costs rising, see how menu and purchasing excellence can help your restaurant get ahead. Y our people are the face, heart, and soul of your restaurant. With higher minimum wage laws, increased competition for workers, and the rising cost of healthcare, it can be tough for restaurants to get — and stay — profitable.

Inventory

Restaurant365

JANUARY 5, 2021

At long last, Congress agreed on a new $900 billion stimulus package and the president signed it into law last week. PPP improvements relevant to restaurant businesses. This exceeds the 20% advocated by the National Restaurant Association.) How much PPP money can your restaurant business receive?

Insurance

Restaurant365

OCTOBER 30, 2020

In a restaurant, there’s always something that needs to be done. As a restaurant owner or manager, sometimes you may need to jump in to help keep business running smoothly. The common saying is that owners and operators need to work “on,” not “in,” their restaurant.

Operations

Xtra Chef

DECEMBER 11, 2019

Restaurant accounting is certainly not the most glamorous part of running a restaurant. Yet, without proper restaurant accounting, it is impossible to control your finances and keep your restaurant in business. What’s In the Restaurant Accounting Guide? Part 1: Restaurant Bookkeeping and Accounting 101.

Cash Management

Lavu

FEBRUARY 2, 2024

In the face of a staggering global issue, restaurants must proactively avoid food waste. Restaurants, a big part of this challenge, can substantially impact by adopting sustainable practices and reducing their contribution to food waste. Laminated Menus: Menus are often a significant source of paper waste in restaurants.

Waste

Sling

MAY 9, 2023

Efficient and effective restaurant operations don’t just happen. The result of all that effort can be a successful restaurant that runs well even when you’re not there. In this article, we discuss some of the best ways to improve your restaurant operations and introduce you to the tools that can help make that easier.

Operations

Restaurant365

AUGUST 21, 2020

Successful restaurant owners and operators don’t just provide great food. The people piece of the puzzle can be challenging for restaurants. Because of the complicated nature of human resources (HR) and the sprawling regulations surrounding payroll, HR and payroll can be a recurring headache for restaurant owners and operators.

Blog

Sling

APRIL 27, 2023

Restaurant operations management is essential for the long-term health of your business. In this article, we examine the specific goals of restaurant operations management and discuss a number of ways to help you improve the program in your own business. Table of contents What is restaurant operations management?

Operations

Lavu

JANUARY 21, 2020

An efficient back-office plays a critical role in the success of a restaurant. As a restaurant owner, being aware of your business’s financial health is an important factor in ensuring that you are not running your business blindly. This includes the revenue of the restaurant, cashflow, inventory levels, and income statements.

Cash Management

Lavu

DECEMBER 20, 2019

The corner cafe, upscale bistro and fine dining restaurant serve different dishes, but all face at least a few common. Restaurant accounting includes items unique to the food service industry. restaurant and the restaurant itself, labor costs typically range from 25 to 40 percent of gross revenue. Inventory Management.

Cash Management

Sling

APRIL 1, 2024

Depending on the complexity of the FSM software you choose, the app may provide such tools as: Dispatch Scheduling Task management Inventory management Time tracking Communication Any one of these components may make your work life easier, but all of them together may help you revolutionize the way your business runs.

2024