Are your restaurant’s accounting processes optimized for profitability? When done right, restaurant accounting will allow you to improve margins and hit goals that help you grow your business by giving you a deeper understanding of your financial status. You will be able to make educated decisions about your finances, and the good news is, there is a modern way to do all of this that won’t take you hours upon hours of headaches and confusion. Thank you technology! So what kind of software should you look for? We’re glad you asked.
Integration and Adaptability
You want to find software that works best with your business. Do your research and see what best integrates with your POS System and see if it has a way to connect directly with your Quickbook and Sage Intacct Accounting Software. The idea here is to streamline your workflow and make your life easier, so you want to make sure that your software is compatible.
You want all of the data! This is going to be how you make important decisions, so it is crucial to have access to information such as, profit and loss reports, automated vendor invoices, food cost reports and daily sales totals. This information should be easy to access so you can know where your restaurant stands whenever you need it.
Accounting automation software can help you simplify your payroll process by pulling labor hours directly from your POS system. This information is instantly imported into your payroll software.
Managing Multiple Locations
If your restaurant has more than one location, it is important to find software that allows you to manage all locations and allow for side-by-side comparisons. This will give you a clear view of how all your restaurants are performing.
Be sure that what you choose is easy to navigate and understand. If you choose software that is complicated to use, it will take longer to train employees, you will likely have more problems along the way and it is counterproductive since you are purchasing the software to save you time and money. You also want to find something that comes with incredible customer support so when problems arise, you can rest assured that someone will be available to help.
Accounting can be overwhelming to even think about, but with new technology, you can put down that pen and paper and watch it all be done with a few clicks. Staying on top of data in a timely manner can be hard when numbers are always changing, so accounting automation software is going to save you so much time and allow you to look at your data when you need it. Not only will you save time, but your reports will also be more accurate. The success of your business relies heavily on how well you can manage your finances, the data you receive and what you do with that data.