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Patio Season is Here. Make it Your Best Summer Ever with 7shifts Tools Built for Restaurants

7 Shifts

Tip Pooling overview. With more customers dining inside and out on the patio this season, you need the ability to create custom tip pools that fit your restaurant’s needs. Tip pooling can help you determine which type of tips are included, which roles receive tips from the pool, and how distribution is calculated.

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What to Include in Your Restaurant Employee Handbook

7 Shifts

First, you need to include their pay and how they will be paid, as well as your overtime and tips policies. Should a staff member break the rules with a fireable offense, you will have documentation that protects you from any wrongful dismissal. It makes every little task trackable, transparent—and most importantly—accounted for.)

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Monthly Restaurant Accounting: Tax and Financial Tips 

Paper Chase Accountancy

This blog offers a comprehensive checklist of monthly restaurant accounting activities, invaluable tax preparation advice, and expert tips to streamline your reporting with the indispensable support of bookkeeping and accounting services. Professional tips for hospitality accounting that directly contribute to sustained business growth.

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[Updated for 2023] The State-by-State Guide To Tip Pooling Laws

7 Shifts

But one can't deny that tips make up a majority of restaurant workers' take-home pay. One of those ways is tip pooling, where all tips are collected into one “pool” and re-distributed back to employees. One of those ways is tip pooling, where all tips are collected into one “pool” and re-distributed back to employees.

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Restaurant Payroll Management: 7 Common Problems and How to Fix Them Fast

Lavu

Handling payroll in restaurants is challenging due to irregular schedules, tip management, and compliance with labor laws. Tip Management : Tracking and distributing tips correctly is critical to avoid penalties. Mistakes can cost an average of $291 per error , harm employee morale, and lead to legal risks.

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The Ultimate Guide to Restaurant Costs

7 Shifts

Improve Employee Retention The high-turnover rates are well-documented in the restaurant industry, with these rates exceeding 70% in 2016. What’s also well documented is that replacing existing employees costs more in the long run than retaining them. After all, training new hires is an investment of time, resources, and money.

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Cost Accounting for Restaurants: A Step-by-Step Guide

Paper Chase Accountancy

Effective management of payroll, tips, and labor costs contributes significantly to cost optimization in the restaurant industry. Hospitality Accounting Solutions : Cost accounting offers restaurant-specific tips and solutions, unlike general accounting. With these steps, restaurants can manage their finances effectively.