Category Archives: Restaurant Accounting Automation

How to Set Up Bar Consumables in MarginEdge

You’ve set up Marginedge and have begun uploading invoices. Maybe you have even set up recipes and are tracking actual vs theoretical usage. In doing these things, you have modernized your bookkeeping and have real-time access to your cost of goods sold (COGS). However, you don’t have confidence in your COGS because each time you

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

Restaurant Inventory that Actually Counts

A chef prepares raw ingredients.

You may not like it, but taking consistent and correct inventory counts is essential to having actionable information. When restaurant operators skip inventory counts, they run the risk of running out of necessary ingredients, cramping cash flow with too much or the wrong inventory, and making poor menu pricing decisions. In collaboration with Toast, our

Using MarginEdge for Restaurant AP

Using MarginEdge for restaurant AP

The AP process (“Accounts Payable”) is accounting jargon for processing and paying invoices as they come due. Restaurants engage many suppliers to obtain the resources and services their establishments need, from the food and beverage items served, to linens and serviceware used, to cleaning and kitchen supplies and appliances, to support services such as legal,

MarginEdge EDI and Reconciliation Tool: Accuracy and Efficiency in AP for Restaurants

MarginEdge creates a seamless invoice to inventory and bill pay process.

We’re going to share some restaurant accounting industry secret sauce: the MarginEdge EDI and Reconciliation tool. The MarginEdge EDI and Reconciliation tool helps restaurant managers and accountants process invoices and bill pay much faster than doing everything by hand by implementing AI and automation, so that all the legwork happens in the background – instead

The 7 Impacts and Benefits of AP Automation with XtraCHEF by Toast

Processing invoices, developing pricing strategy, managing inventory costs, and keeping the right inventory levels are all challenging functions of managing a restaurant. You can quickly and easily do all of these things by using xtraCHEF, integrated into your management processes and accounting systems! Check out “7 Impacts and Benefits of Accounts Payable Automation with xtraCHEF

How to Reconcile Food Delivery Service Fees and Taxes

food delivery service

Written in partnership with: Restaurants are doing more carry-out and delivery than ever, and maximizing revenue per square foot by using two, three, or more different delivery services to reach the most hungry customers as possible. Unfortunately, each additional delivery service means more taxes, fees, and commissions that must be reconciled in the accounting system.

How Much Does Restaurant Accounting Cost and Why?

How much does restaurant accounting cost? How much should you be paying? The short answer is it depends. In this article, I will explain the dependencies that significantly influence the cost of restaurant accounting. Before we dive in, let’s understand the purpose of restaurant accounting and the options that are out there. The purpose of

Growing a Practice and Refining Services with MarginEdge

In partnership with: Check out this article and interview from MarginEdge with our Founder, Raffi Yousefian. This article highlights the benefits and win/win for restaurants and accountants that use software like MarginEdge to streamline their restaurant accounting operations and increase profitability by gaining visibility and oversight on a real-time basis.  

Modern Restaurant Accounting

Certified CPAs working at RY CPAs

Link to full article via MarginEdge OK, let’s face it, you aren’t in the restaurant business because of your love of accounting. Still, like most businesses, consistent and accurate financial reporting is key to the success of your restaurant and ensures you have a way to assess your restaurant’s performance, identify problem issues and maximize