. Home. Get tips on running a successful business in our small business guides. Get ideas on running your practice in our accountant and bookkeeper guides.
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Keep up to date on all things Xero. Clean innovative ideas and insights from people who know business inside out. For software reviewers to understand Xero's products and features. Get help using Xero, ask questions, and share your experience with others. Food, drink, ambience – and cash flow To succeed in the competitive restaurant industry, you’ll need a firm grip on the finances.
One of the major reasons why restaurants go out of business is badly-managed accounts. With transactions going through on a daily basis and razor-thin margins, it’s important to manage cash flow well and keep an eye on inventory, costs and revenue. So it's wise to think about restaurant accounting software before you open your restaurant. You'll need a system that is:.
online – you can access it anytime, anywhere on your laptop or smartphone. accurate – you’re able to make business decisions with confidence.
easy to use – you can hit the ground running. smart – you’re able to see the health of your business in real-time.
flexible – you can be confident it will cope with the challenges of running a restaurant. Here are five tips to help you understand the basics of restaurant accounting, so you can set up a system that works for you.
Get a back-end system that’s flexible Restaurants do lots of their business outside conventional working hours. Lunchtimes, evenings, weekends and holidays are busy periods for most restaurants. This has an effect on payroll. You'll need an industry solution that can handle:. Open shifts and replacements Do you often have staff cancel a shift or need immediate help? Never do the ring around again. Get a system that makes it easy to offer open shifts to either selected staff or your entire workforce.
Employee tips In many countries it's normal for customers to tip staff a percentage of the total bill. Sometimes this is added to the bill as a discretionary payment. Sometimes it's left for the serving person in cash. You'll have to consider how to handle tips, depending on the law in your country. Many restaurants distribute this money to all staff, since they’re all part of the team – but make sure you check with your accountant. Turnover of staff Some of your employees will choose to make a career in the restaurant business. Others will work for you temporarily before moving on.
Restaurants often have high staff turnover, so you'll want a that's easy to use. Simple setup of new staff and processing of leavers is essential. Keep your pricing competitive Menu pricing is a balancing act. You need to take account of the cost of ingredients and overheads. You must also stay competitive with other local restaurants. There's nothing wrong with pricing some menu items low to bring in new customers. Loss leaders like this are part of doing business.
But there's no excuse for setting prices too low just because you haven't checked your costs. The restaurant accounting software you choose can help make this task easier. You can create reports to estimate meal prices on a weekly or even daily basis. Armed with the numbers, you can check out the competition and make informed pricing decisions. Get a POS system that ties in with your accounting software Most restaurants receive money from customers in two different ways. Some diners pay with cash, others with credit or debit cards. A good POS (Point of Sale) system will handle these payments for you, and connect to your accounting software.
That will help you update your cash flow predictions daily. And it will make life easier for your staff. It's not always practical to create an invoice for every meal in your accounting software. So how do you process all the payments you receive in a day? You could:. create daily sales invoices, then receive the money into a cash control bank account. use the receive money option in your accounting software to record all the day's takings in one go.
create a sales invoice for the day's takings – then split the amount into separate petty cash and credit/debit card accounts. Other options are available.
Talk to your bookkeeper or accountant to find out which one best suits your business. Manage stock well to avoid waste A restaurant is one of the only types of business in which all the inventory is consumed on the premises. Your customers pay you money, but they don't take anything away with them. Managing stocks of food and drink can be a challenge.
It's expensive to hold too much, especially if it’s perishable. So restaurants rely on regular deliveries to keep the kitchen well supplied. Restaurant accounting software can help you here. Detailed reports of past revenue will help you identify peak times of the week, month and year.
This helps you plan your deliveries and inventory to match. That way you won't hold too much – or too little. Account for all receipts You'll have regular suppliers who bill you in the usual way.
But sometimes you could still run short of ingredients. For example, imagine you get an unexpected booking for 16 people and they all order the same fish dish. That could exhaust your supplies of fish for the night. Enterprising restaurant owners have local networks of late-night suppliers for situations like this. They might use trade suppliers or local supermarkets.
Ensure you make a record of everything you buy. That includes those extra bottles of milk to make closing-time coffees.
Process every receipt, so you're not out of pocket when it's time to offset your expenses against tax. Get the right restaurant accounting software and watch your business flourish Not just surviving but thriving in the restaurant industry is tough – and like any other business, it all comes down to the numbers.
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Having the right restaurant accounting software means you’ll understand how those numbers affect the bottom line. From revenue to payroll, and from inventory to expenses, having a great system matters. Before you even open your new restaurant, it’s sensible to have a plan for your accounting system in place. Used wisely, it will help you manage and grow your restaurant business.
. Food Sales - The restaurant's gross sales from food are recorded in this revenue account. Expenses. Cost of Sales - Beverages - The cost of beverage sales are expensed in this account. Cost of Sales - Food - The cost of beverage food are expensed in this account. Discounts - Meal discounts and comps given to customers are recorded in the discount account.
Occupancy Expenses. Rent Expense - The costs of renting the building are recorded in the rent expense account. Insurance on Building - The costs of property and casualty insurance are recorded in the insurance on building expense account.
Pest Control - The cost of exterminators and other pest control services are recorded in the pest control account. Security/Alarm Services - The costs of any on-site security or the alarm services are recorded in this expense account. Janitorial - The cost of any cleaning service company and janitorial supplies are recorded in this account. Utilities - Any water, sewer, or electric utility expenses should be recorded in this account. Disposal Services - The costs of trash removal services are recorded in the disposal services account. Labor Expenses.
Officer Wages - Officer salaries and wages are recorded in this account. Officer Benefits: Health Insurance - Officer health insurance expenses are recorded in this account. Officer Benefits: Meals and Discounts - Officer meals and discounts are recorded in this account. Officer Benefits: Other-Officer benefits that do not fall into any other category are recorded in this account. Management Wages - Management salaries and wages are recorded in this account. Management Benefits: Health Insurance - Management health insurance expenses are recorded in this account.
Management Benefits: Meals and Discounts - Management meals and discounts are recorded in this account. Management Benefits: Other-Management benefits that do not fall into any other category are recorded in this account. Employee Wages: Front of the House: Bartender - Bartender salaries and wages are recorded in this account. Employee Wages: Front of the House: Bussers - Busser salaries and wages are recorded in this account. Employee Wages: Front of the House: Host/Hostess - Host/Hostess salaries and wages are recorded in this account. Employee Wages: Front of the House: Servers - Server salaries and wages are recorded in this account. Employee Wages: Back of the house: Chefs - Chef salaries and wages are recorded in this account.
Employee Wages: Back of the house: Cooks - Cook salaries and wages are recorded in this account. Employee Wages: Back of the house: Dishwashers - salaries and wages are recorded in this account. Employee Benefits: Health Insurance - Employee health insurance expenses are recorded in this account.
Employee Benefits: Meals and Discounts - Employee meals and discounts are recorded in this account. Employee Benefits: Other- that do not fall into any other category are recorded in this account.
A single station system includes the following:. 1 - New 10.1' POS Tablet 1 Year Warranty. Intel Quad Core CPU, 64G SSD HD, 4GB RAM, Windows® 10 64bit. 1 - New Auto Open Cash Drawer. 1 - New Thermal Auto Cut Receipt Printer. 1 - New BPA Restaurant or Restaurant Delivery Software. Includes OpenEdge credit card processing software These systems are available with BPA Restaurant Professional or BPA Restaurant Delivery #Systems Price With BPA Restaurant With BPA Delivery 1 Station $495.Multiple Windows stations require a wired lan adapter which is included.
Our Business Plus Accounting software is included free on each Point of Sale terminal you purchase from us. Rather than making an expensive software purchase up front, you pay nothing up front and a very reasonable fee of $40 per month for support, upgrades, and software licensing. RapidServer tablet licenses are an additional $15/month each. You receive unlimited telephone support during our regular business hours and free updates to the software as soon as they are released. A single station system includes the following:.
1 - Used Dell Optiplex Computer: 6 Mo Replacement Warranty. Pentium 4 (2.8-3.4)GHz, 40-80G HD, 1G RAM, CD-ROM, Windows 7 Pro. 1 - New 15' Touch Screen Flat Panel LCD Monitor.
1 - New Auto Open Cash Drawer. 1 - Used Thermal Auto Cut Receipt Printer. 1 - Used Thermal Auto Cut Kitchen Printer. 1 - New Credit/Employee Card Swipe. 1 - BPA Restaurant or Restaurant Delivery Software. Includes X-Charge or PayPros credit card processing software These systems are available with BPA Restaurant Professional or BPA Restaurant Delivery.
#Systems Price With BPA Restaurant With BPA Delivery 1 Station $1,025 2 Stations $1,825 3 Stations $2,625 4 Stations $3,425 5 Stations $4,225.Multiple stations are priced with a single Kitchen Printer and Cash Drawer. Our Business Plus Accounting software is included free on each Point of Sale terminal you purchase from us. Rather than making an expensive software purchase up front, you pay nothing up front and a very reasonable fee of $40 per month for support, upgrades, and software licensing. RapidServer tablet licenses are an additional $15/month each. You receive unlimited telephone support during our regular business hours and free updates to the software as soon as they are released.
This Unit Includes the following items. 1 - 7 inch RapidServer Android Tablet: 1Yr Limited Warranty. 1 BPA RapidServer Android Restaurant Single Device License.
1 - MicroSD Memory slot up to 32G. 1 - New USB Sync Cable & Power Supply.
1 - New BPA Restaurant or Restaurant Delivery Software. 1 - New BPA RapidServer Handheld Restaurant Single Device License Quantity pricing available, call for details. RapidServer handhelds work with both BPA Restaurant Professional and BPA Restaurant Delivery. Price Buy $205/ea Requirements for Usage. One time $50 Setup Fee required to configure BPA for your first tablet. Software license fee of $15/month per tablet.
OS: Windows 10, Windows 8, Windows 7 Home Premium or Higher. Installation of BPA Restaurant Software on a PC System. Wireless Router or Access Point. BPA Restaurant or Delivery Software is Included with purchase of a tablet but the comptuer and wireless access point must be purchased separately. All Hardware Systems Include the BPA Video CD Training Series For Servers And Managers All Restaurant Point of Sale Hardware Systems come with Restaurant POS Software 'BPA Restaurant Professional' OR 'BPA Pizza Delivery Professional'. This Professional Restaurant System is a multiuser system which can be run on as many terminals as you purchase from us at no additional software charge. This is a complete Restaurant Business Solution for small, medium or large companies.
This comprehensive package comes with 2 well written printed manuals and a complete set of training video CDs. You also have a professional staff of support engineers to help you as well as online support through our online support forum. All hardware and software are compatible.
The software will be pre-installed for you. The Receipt Printer drivers will be pre-installed. The system will be ready to go. All new hardware carries the manufactures warranty. All used hardware comes with a 6 month warranty. When you purchase your hardware POS stations from us the software license is always free.
When you purchase your own hardware you are required to pay a software license fee for each POS station. BPA Business System Voted #1 by Computer Credible Magazine Our restaurant software systems solution is completely integrated with Business Plus Accounting. Business Plus Accounting software was voted #1 by Computer Credible Magazine in 2000. You will be receiving a great business system and a very fine restaurant POS system integrated together. For over 14 years our software has included a complete accounting system integrated with payroll and powerful business functions.
Restaurants are my favorite example businesses; they’re so pure. And by pure, I mean—people don’t open restaurants because of their love of money. No, they open a restaurant because they love food and feeding people and making diners say, “Mmmm. Mmmhmm.” It’s the perfect example of a business that software can help. It helps by getting all the paperwork nonsense out of the way, so a chef or owner can focus on making those people happy. While every type of business has its unique concerns, restaurants have a whole laundry list of specialized accounting issues most people outside the food business never think of:. Food goes bad.
Recipes affect profitability. People get paid wages and tips. A robust POS (point of sale) is a must Finding the right restaurant isn’t an ordeal, but you do need to make sure you’re ticking all the right boxes. Today, we’ll look at important features restaurants should be on the lookout for, discuss how they should affect your buying decision, and talk about getting the most out of your system. 6 essential accounting software features for restaurants There are a million different features you’ll come across during your software search, but these six are absolutely essential to any restaurant’s success. Flexibility The most important feature you should be looking for when choosing accounting software is flexibility.
Restaurant Accounting Software Programs
You’re not going to find the perfect stand-alone software, so you’ll need to be able to integrate to make it all work. Most of the big—and many of the small—accounting software packages out there support heavy integration. As a restaurant, you should look for inventory, payroll, and POS integrations, specifically. 1099 capabilities After flexibility, you need something that makes. You have to send a 1099 to any person or business you’ve paid $600 or more to at the end of the year (so, every supplier you work with).
Having accounting software that tracks payments and generates 1099s for the vendors that need them will save you a ton of time, come January. Cloud-based deployment You’ll also want something could-based. I love the cloud.
I don’t always recommend it—because everyone has a different workflow and comfort level with security—but for restaurants, cloud is a must. The world you’re working toward is one in which you work just 80 hours a week. The restaurant is open from 10 a.m. To 12 a.m., seven days, every week. That’s 108 hours of open doors, not counting prep and closing time. Some of your work, oversight, and anxious pacing is going to have to happen offsite. With a cloud system, you can get real work done remotely, instead of just fretting about the work you have left to do.
(Please don’t tell your spouse this was my idea.) 4. Accountant approval Any accounting system you buy should have the seal of approval from your accountant. Wait, back up. You need an accountant. Alright, now it should have the seal of approval from your accountant.
Restaurant Accounting Software Canada
Inventory management Look for accounting software that has a strong inventory management component. While you can often add this on with a third-party integration, inventory is one of the more common core features. You should be able to find a powerful solution with inventory built in. Reporting tools Finally, you want accounting software with great reporting capabilities.
Restaurants need constant insight into their operations, looking for profitable items, buying patterns, and ways to keep costs under control. A good set of reporting tools can help you identify those areas quickly. Picking the right restaurant accounting software In the past, you had to make a three-way trade-off when buying software, between cost, power, and usability. The twist is that a new set of cloud-based options, offered for “free,” gives you some ability to break out of that cycle. (Free is in quotes because the cost usually comes in the form of information about your buying habits, which not everyone loves giving up.) Most software, though, still requires a balancing act.
For restaurants, the key to success can be found in integration, which I would prioritize over almost any other capability. Being able to build a strong core accounting system, surrounded by supporting software to handle the detailed tasks, is a big win. Of course, you’ll run up against cost limitations.
One of the many benefits of integration is that you can focus on getting a solid, stripped down core system and add on functionality as you need it. These days, you can get everything from payroll to expense management as add-on features, allowing you to get into most systems for very little cash. For instance, you can get the totally solid versions of or for $35 and $30 per month, respectively.
That adds up to just a handful of hours of employee wages each month, and you get to keep your business in order. After that, you can start adding on those other features as you need them or as you have the free capital. There’s no need to bite off more than you can chew. Getting the most out of your accounting system Once you’ve picked your system and have it up and running, the first step to success is linking your accounting with your POS. Daily sales reports are one of the most important views you can gain into your business, and linking your POS to your accounting software makes those reports easier to run and more powerful. You’ll also link up—or fire up, if it’s included in the accounting package—your payroll software.
This makes it easy to manage employee taxes, tip divisions, and budgeting. The accounting software can manage the reporting side of this, allocating costs to the right accounts and tracking actual costs versus your budget. The payroll integration will manage the tax calculations, compliance, and.
As your last setup task, you’ll integrate—or, again, fire up—that sweet, sweet inventory management system. Tracking how much product you have, how quickly it rotates through your business, and how much it costs will make or break you. Good restaurants that inexplicably close their doors do so not because demand is low, but because the food people are buying isn’t adding enough to the business’s bottom line. Inventory systems, tied into your accounting solution, can help fix that problem.
Go forth and feed the world Now that you know what you need, you can go out and find a solution that works for you. Check out or our rundown of some great options. We also have directories for, and. Check them all out and find the selection that works for you—and that all works together. And remember, before you drop a bunch of time and money into any software, talk to your accountant to make sure you’re covering all your bases.
. Home. Get tips on running a successful business in our small business guides. Get ideas on running your practice in our accountant and bookkeeper guides. Xero advisors share their triumphs, failures, and learnings on their journey. Find Xero webinars, training courses and other education content at Xero U.
Find videos on using Xero, case studies, product updates and more on Xero TV. Keep up to date on all things Xero. Clean innovative ideas and insights from people who know business inside out. Get help using Xero, ask questions, and share your experience with others. For software reviewers to understand Xero's products and features. Using restaurant accounting software has really helped Fonda grow.
It's meant that co-founder Tim McDonald has the ability to see exactly how the business is performing at any point in time. In the competitive, fast-paced world of hospitality, making informed changes to your business is essential. With Xero, Tim can see how much money the business is making at the click of a button.
“Because Xero is cloud-based, we can do that from anywhere,” says Tim, “whether I’m in a cafe or waiting for a tram. To be able to log in from anywhere means I can keep my finger on the pulse 24/7.”.