Category Archives: General

Why Your Accountant Should Be Paying Your Bills

Managing bill payments is a tedious and time-consuming process, but is integral to a restaurant’s day to day operations. You already understand why bill pay is an extremely important process but may not fully understand the benefits of having your accountant involved like the national chains do. This article explains why your accountant should be

How to Calculate and Assess Controllable Profit

How to Calculate and Assess Controllable Profit

Every restaurant has controllable and non-controllable expenses. Controllable profit measures the amount left over after deducting controllable expenses from your sales. A seasoned and effective general manager will maximize controllable profit by monitoring and managing the controllable expenses. In this article, you’ll learn how to calculate controllable profit and why it’s an important measure of

How to Control Restaurant Labor Costs in 3 Steps

Labor cost as a percentage of sales indicates whether or not labor should be adjusted in a restaurant. However, actually controlling and managing labor cost requires more analysis. Labor cost can be controlled through effective scheduling and improving employee productivity, but only if you have access to actionable data and reliable reports and have the

The Importance of Accrual Basis Accounting

When interviewing prospective clients, I ask, “Are your financials on a full accrual basis?” This question allows me to quickly understand whether they have access to valuable and actionable financial information. Unfortunately, most restaurateurs cannot answer this question because they don’t know the difference between accrual basis and cash basis financials and the impact it

Guest Blog: Restaurant Accounting EDI Integration

If your bill payment process involves tracking invoices by hand and lots of manual data entry, you would benefit by implementing electronic data interchange (EDI) between your inventory/POS system, your accounting system, and your vendor’s billing. This setup, such as EDI with Fintech, helps you optimize your invoice line-item data input, improve the accuracy of

How to Maximize Profit with Third-Party Delivery

Third-party delivery (such as UberEats, Grubhub, and Doordash) has gained a bad reputation due to the exorbitant fees charged by the platforms. However, changes in Americans’ eating habits are making these platforms vital for the survival of restaurants. About half of all restaurant sales in the US are consumed off-premises, and these off-premises options (catering,