Remove Insurance Remove License Remove POS
article thumbnail

Bridging the Gap: Integrating Legal and Insurance Considerations into Restaurant Cybersecurity Response

Modern Restaurant Management

Golden Corral's August 2023 network breach affected 183,000 current and former employees, with hackers accessing everything from Social Security numbers to health insurance details. Yet many restaurant operators remain underprepared when it comes to integrating legal and insurance considerations into their cybersecurity response plans.

article thumbnail

Serve and Sip Responsibly: Tackling Restaurant Liquor Liability Concerns

Modern Restaurant Management

At All Solutions Insurance, we saw a recent claim in which a restaurant faced a multi-million-dollar lawsuit after over-serving a guest who later caused a fatal car accident. Serving minors due to improper ID verification can result in fines, a restaurant losing their liquor license and reputational damage.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Average Restaurant Profit Margins: What They Are And How to Improve Yours

ChowNow

It factors in all your operating expenses, like labor, rent, insurance, equipment repairs, marketing, and more. came to $35,000, and your operating expenses (labor, rent, insurance, etc.) Add in things like equipment repairs, licensing fees, and other expenses, and youre constantly fighting to stay ahead of significant cost increases.

article thumbnail

How to Read a Restaurant P&L (Profit and Loss) Statement + Free Template

SpotOn

For weekly or more in-depth reporting, accounting software that integrates with your POS system is recommended.  Your P&L line items should be consistent with the ones on different platforms—POS, inventory management, and accounting software. Those sales line items should match the ones in your POS reporting.

article thumbnail

Restaurant Accounting Tips Made Simple: Expert Ways to Boost Profits in 2025

Lavu

Occupancy Expenses: This refers to fixed costs like rent, property taxes, utilities, and property insurance. The cycle starts with the buying of a meal by a customer, with the transaction being recorded by the POS system. The accountant will help you with the following tasks: Your POS System. Choose a good Restaurant POS system.

article thumbnail

Inside the World of Hospitality and Leisure Accounting

Paper Chase Accountancy

Point-of-Sale (POS) Integration: Seamless integration with POS systems is critical for capturing sales data, managing inventory in real-time, and ensuring accurate revenue reporting. Operating Expenses Utilities, marketing, supplies, rent, insurance. Fixed Assets Asset acquisition, depreciation, disposals.

article thumbnail

Restaurant Profit Margin: 7 Ways To Actually Make Your Operation More Profitable

SpotOn

But many owners don't account for the high fixed costs of bars —like repairs, insurance, and alcohol theft which can leave them with less profit than expected. You should be able to find this data in your POS reporting. Look in your POS reporting for hourly labor and check your books for the others. Labor costs.