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Running a restaurant or bar means juggling many tasks at once. One of the most challenging is managing your finances accurately and efficiently. Automated accounting systems promise to simplify this process, but are they truly a good fit for your establishment? This post explores the benefits and potential drawbacks of automated accounting for restaurants and bars, helping you decide if it suits your needs. What Is Automated Accounting? Automated accounting uses software to h

Even if your restaurant is currently doing well, examining your financial statements shouldn't be reserved solely for your CPA at the end of the year for tax purposes. The truth is, your restaurant could be profitable but still losing money because of waste, mismanagement, honest mistakes, or fraudulent actions. If your restaurant isn't making a profit or if it's not maximizing its profit potential, your financial statements coupled with your budget should help you identify t

If you're like most restauranteurs who are using traditional bookkeeping software like Quickbooks or ERP software like NetSuite, then the...