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HOW TO CALCULATE A RESTAURANT BREAK-EVEN POINT (WITH FREE Regulations and public advisories for restaurants during the coronavirus pandemic range widely throughout the country. If your state allows dine-in, or perhaps delivery only, you are working to make critical decisions about staying open, changing your dining options (for instance, only seating customers 6 ft. apart), modifying your menu to serve takeout, or closing temporarily. MANAGING YOUR RESTAURANT BALANCE SHEET AND FINANCIAL A balance sheet shows the net worth of a restaurant at a certain moment in time, detailing your restaurant’s assets, liabilities, and equity. Your balance sheet empowers you to understand your general financial health in the moment, as well as forecast your short-term and long-term cash flow. With your cash statement in hand, you knowwhether
10 OPERATIONAL CHALLENGES RESTAURANTS SHOULD EXPECT IN Here are the top 10 operational challenges restaurant operators should expect in 2020: 1. Finding and training staff. Employees determine the customer service experience in a restaurant. But with restaurant industry turnover rate at a post-recession high of 75%, restaurateursare
BANK RECONCILIATION
Bank Reconciliation. This opens in a new window. These customers talk about doing bank reconciliation for all of their restaurant locations in minutes. Share this with your accounting prospects. CALCULATE YOUR BREAK-EVEN POINT Break Even Calculator. How to Calculate a Restaurant Break-Even Point. Your break-even point is what sales you need for a certain period of time to not lose money, or “break even.”. This is a financial calculation that can help you make critical staffing decisions as WHAT IS THE AVERAGE PROFIT MARGIN FOR A RESTAURANT What is the average profit margin for a restaurant can be an essential, but tough, question to answer. While profit margin may be a widely known metric, it can be difficult to fully understand everything that affects the calculation. RESTAURANT MANAGEMENT SOFTWARE Restaurant365 is a cloud-based, all-in-one, restaurant management software platform for successful restaurant operation. It connects to POS, payroll, vendors and banks. Schedule a demo today. RESTAURANT INDUSTRY TRENDS AND ANALYSIS IN 2020 March 11: The beginning of the downturn as states begin to restrict dine-in service. April 15: Stimulus checks begin to hit bank accounts, a slight uptick in sales can be seen. May 1: States begin to re-open, notably GA & TX. This starts an upward trend of dine-in sales. June 26: As COVID case increase in a second wave, sales at restaurants THE EMPLOYEE RETENTION TAX CREDIT: IS YOUR RESTAURANT The maximum credit amount has also increased to $7,000 per employee per quarter of 2021 ($10,000 in qualified wages x 70%) for a possible $33,000 credit per employee. This is a significant increase from the previous annual cap of $5,000 per employee ($10,000 in qualified wages x 50%). Also, the full-time employees (FTE) threshold is up to 500 RESTAURANT INVENTORY MANAGEMENT SOFTWARE Restaurant Inventory Management Software. Experience the Future of Restaurant Inventory Management. Get better information with less effort so all your managers can control food costs like the very best. Uncover your restaurants’ hidden food cost problems with the most powerful, easy-to-use system – a system that’s fully connected toyour
HOW TO CALCULATE A RESTAURANT BREAK-EVEN POINT (WITH FREE Regulations and public advisories for restaurants during the coronavirus pandemic range widely throughout the country. If your state allows dine-in, or perhaps delivery only, you are working to make critical decisions about staying open, changing your dining options (for instance, only seating customers 6 ft. apart), modifying your menu to serve takeout, or closing temporarily. MANAGING YOUR RESTAURANT BALANCE SHEET AND FINANCIAL A balance sheet shows the net worth of a restaurant at a certain moment in time, detailing your restaurant’s assets, liabilities, and equity. Your balance sheet empowers you to understand your general financial health in the moment, as well as forecast your short-term and long-term cash flow. With your cash statement in hand, you knowwhether
10 OPERATIONAL CHALLENGES RESTAURANTS SHOULD EXPECT IN Here are the top 10 operational challenges restaurant operators should expect in 2020: 1. Finding and training staff. Employees determine the customer service experience in a restaurant. But with restaurant industry turnover rate at a post-recession high of 75%, restaurateursare
BANK RECONCILIATION
Bank Reconciliation. This opens in a new window. These customers talk about doing bank reconciliation for all of their restaurant locations in minutes. Share this with your accounting prospects. CALCULATE YOUR BREAK-EVEN POINT Break Even Calculator. How to Calculate a Restaurant Break-Even Point. Your break-even point is what sales you need for a certain period of time to not lose money, or “break even.”. This is a financial calculation that can help you make critical staffing decisions as WHAT IS THE AVERAGE PROFIT MARGIN FOR A RESTAURANT What is the average profit margin for a restaurant can be an essential, but tough, question to answer. While profit margin may be a widely known metric, it can be difficult to fully understand everything that affects the calculation. RESTAURANT PAYROLL SOFTWARE Restaurant Payroll & HR Software. Attract, Hire, and Retain the Best Employees. Streamline the entire employee lifecycle, from hire to retire, with restaurant-specific payroll and HR technology. Built for high-volume, fast-paced restaurants, R365 Payroll + HR makes it easy for you to hire, onboard, pay, and support your workforce. Get a FreeDemo.
RESTAURANT365 ACQUIRES COMPEAT TO CREATE MARKET LEADER IN IRVINE, CA and AUSTIN, TX (June 10, 2021) – Restaurant365, the leading all-in-one restaurant management platform, today announced the acquisition of Compeat, well-known in the industry for pioneering feature-rich restaurant back office, workforce and business intelligence software. The combined business will be led by Tony Smith, CEO of Restaurant365, and will serve over 28,000 RESTAURANT INVENTORY MANAGEMENT SOFTWARE Restaurant Inventory Management Software. Experience the Future of Restaurant Inventory Management. Get better information with less effort so all your managers can control food costs like the very best. Uncover your restaurants’ hidden food cost problems with the most powerful, easy-to-use system – a system that’s fully connected toyour
RESTAURANT365 AND COMPEAT PREPARE TO TRANSFORM HOW Today, Restaurant365 announced the acquisition of Compeat, a well-known provider of restaurant back office, workforce, and business intelligence software.This is a big step for us, very exciting to me, and I wanted to tell you why we chose to do it. The goal. We founded Restaurant365 in 2011 with the goal of providing restaurant operators a powerful tool to help simplify their lives and PAYCHECK PROTECTION PROGRAM (PPP) FAQ FOR RESTAURANT The following are actual questions asked by restaurant operators about the Paycheck Protection Program (PPP). For simplicity, PPP1 refers to the first round of PPP loans under the CARES Act in 2020 and PPP2 refers to the newest round of PPP loans under the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (Economic Aid Act) as part of the Consolidated Appropriations Act, 2021. MAKING SENSE OF THE $120 BILLION RESTAURANTS ACT OF 2021 June 15, 2020: The Real Economic Support That Acknowledges Unique Restaurant Assistance Needed to Survive Act (RESTAURANTS Act of 2020) was introduced in a previous session of Congress and was passed by the House but was not voted on by the Senate. February 4, 2021: In a 90-10 Senate vote, the Restaurant Rescue Plan, a $25 billion grant relief program for restaurants, was added to the American NEWEST ROUND OF PPP FUNDS MORE ADVANTAGEOUS FOR RESTAURANT Updated January 25, 2021. At long last, Congress agreed on a new $900 billion stimulus package and the president signed it into law last week. Mercifully, it contains some help for restaurant businesses hurt by the pandemic, with the inclusion of funding for a second round of forgivable loans through the Paycheck Protection Program (PPP) for small businesses experiencing significant revenue HOW TO SET UP AND RUN A GHOST KITCHEN FOR YOUR RESTAURANT How to set up and run your ghost kitchen. If you decide to launch a ghost kitchen for your existing restaurant business, these tips will help you set up and run your new business venture. 1. Optimize Your Menu for Delivery. You must focus on prep time, plus food temperature,quality, and taste.
RESTAURANT PAYROLL 101: EVERYTHING YOU NEED TO KNOW The ideal labor cost percentage can vary widely with your particular restaurant’s business model. The common benchmark for most restaurants is a labor cost percentage between 25%-35% of sales, but this may range depending on your industry segment: 25%: quick service restaurants with faster customer transactions and less specializedlabor.
ELI’S RESTAURANT GROUP RECOUPS $1.1 MILLION PRIME COST GAP Eli's Restaurant Group uses Restaurant365 to enable store-level managers to make data-driven decisions, allowing the company to recoup $1.1 prime cost gap. RESTAURANT MANAGEMENT SOFTWARE Restaurant365 is a cloud-based, all-in-one, restaurant management software platform for successful restaurant operation. It connects to POS, payroll, vendors and banks. Schedule a demo today. RESTAURANT INDUSTRY TRENDS AND ANALYSIS IN 2020 Restaurant industry statistics from the R365 Industry Pulse. Get the latest trends and key restaurant industry indicators. THE EMPLOYEE RETENTION TAX CREDIT: IS YOUR RESTAURANT Updated March 16, 2021. What has changed? Congress voted to extend the ERTC until December 31, 2021; The credit has been increased to 70% of the qualified wages paid PAYCHECK PROTECTION PROGRAM (PPP) FAQ FOR RESTAURANT The following are actual questions asked by restaurant operators about the Paycheck Protection Program (PPP). For simplicity, PPP1 refers to the first round of PPP loans under the CARES Act in 2020 and PPP2 refers to the newest round of PPP loans under the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (Economic Aid Act) as part of the Consolidated Appropriations Act, 2021. HOW TO CALCULATE A RESTAURANT BREAK-EVEN POINT (WITH FREE Regulations and public advisories for restaurants during the coronavirus pandemic range widely throughout the country. If your state allows dine-in, or perhaps delivery only, you are working to make critical decisions about staying open, changing your dining options (for instance, only seating customers 6 ft. apart), modifying your menu to serve takeout, or closing temporarily. GUEST BLOG: PPP LOAN FORGIVENESS FOR RESTAURANTS Extension of the expense forgiveness period from eight weeks to 24 weeks, but that 24-week period cannot extend beyond Dec. 31, 2020. Reduction of the payroll ratio requirement from 75% to 60%, allowing restaurant businesses to use up to 40% of funding for non-payroll expenses such as rent, mortgage interest or utilities. MANAGING YOUR RESTAURANT BALANCE SHEET AND FINANCIAL As a restaurant owner or operator, you know that without monitoring, restaurant expenses can easily grow out of control. Your financial statements, such as your restaurant balance sheet and profit and loss statement, are tools to understand your business. WHAT IS THE AVERAGE PROFIT MARGIN FOR A RESTAURANT What is the average profit margin for a restaurant can be an essential, but tough, question to answer. While profit margin may be a widely known metric, it can be difficult to fully understand everything that affects the calculation. 10 OPERATIONAL CHALLENGES RESTAURANTS SHOULD EXPECT IN New training methods focus on thorough cross-training, an emphasis on company mission and values, and solid management team structures. Restaurants are also experimenting with offering health benefits or commuter subsidization to help supplement hourly wages and retainemployees.
BANK RECONCILIATION
Restaurant365 provides a restaurant-specific accounting and back-office software platform that alleviates the significant burdens placed on restaurant operators – allowing concepts to operate more efficiently and profitably in a digital world. RESTAURANT MANAGEMENT SOFTWARE Restaurant365 is a cloud-based, all-in-one, restaurant management software platform for successful restaurant operation. It connects to POS, payroll, vendors and banks. Schedule a demo today. RESTAURANT INDUSTRY TRENDS AND ANALYSIS IN 2020 Restaurant industry statistics from the R365 Industry Pulse. Get the latest trends and key restaurant industry indicators. THE EMPLOYEE RETENTION TAX CREDIT: IS YOUR RESTAURANT Updated March 16, 2021. What has changed? Congress voted to extend the ERTC until December 31, 2021; The credit has been increased to 70% of the qualified wages paid PAYCHECK PROTECTION PROGRAM (PPP) FAQ FOR RESTAURANT The following are actual questions asked by restaurant operators about the Paycheck Protection Program (PPP). For simplicity, PPP1 refers to the first round of PPP loans under the CARES Act in 2020 and PPP2 refers to the newest round of PPP loans under the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (Economic Aid Act) as part of the Consolidated Appropriations Act, 2021. HOW TO CALCULATE A RESTAURANT BREAK-EVEN POINT (WITH FREE Regulations and public advisories for restaurants during the coronavirus pandemic range widely throughout the country. If your state allows dine-in, or perhaps delivery only, you are working to make critical decisions about staying open, changing your dining options (for instance, only seating customers 6 ft. apart), modifying your menu to serve takeout, or closing temporarily. GUEST BLOG: PPP LOAN FORGIVENESS FOR RESTAURANTS Extension of the expense forgiveness period from eight weeks to 24 weeks, but that 24-week period cannot extend beyond Dec. 31, 2020. Reduction of the payroll ratio requirement from 75% to 60%, allowing restaurant businesses to use up to 40% of funding for non-payroll expenses such as rent, mortgage interest or utilities. MANAGING YOUR RESTAURANT BALANCE SHEET AND FINANCIAL As a restaurant owner or operator, you know that without monitoring, restaurant expenses can easily grow out of control. Your financial statements, such as your restaurant balance sheet and profit and loss statement, are tools to understand your business. WHAT IS THE AVERAGE PROFIT MARGIN FOR A RESTAURANT What is the average profit margin for a restaurant can be an essential, but tough, question to answer. While profit margin may be a widely known metric, it can be difficult to fully understand everything that affects the calculation. 10 OPERATIONAL CHALLENGES RESTAURANTS SHOULD EXPECT IN New training methods focus on thorough cross-training, an emphasis on company mission and values, and solid management team structures. Restaurants are also experimenting with offering health benefits or commuter subsidization to help supplement hourly wages and retainemployees.
BANK RECONCILIATION
Restaurant365 provides a restaurant-specific accounting and back-office software platform that alleviates the significant burdens placed on restaurant operators – allowing concepts to operate more efficiently and profitably in a digital world. RESTAURANT PAYROLL SOFTWARE Restaurant Payroll & HR Software Attract, Hire, and Retain the Best Employees. Streamline the entire employee lifecycle, from hire to retire, with restaurant-specific payroll and HR technology. RESTAURANT365 ACQUIRES COMPEAT TO CREATE MARKET LEADER IN IRVINE, CA and AUSTIN, TX (June 10, 2021) – Restaurant365, the leading all-in-one restaurant management platform, today announced the acquisition of Compeat, well-known in the industry for pioneering feature-rich restaurant back office, workforce and business intelligence software. The combined business will be led by Tony Smith, CEO of Restaurant365, and will serve over 28,000 RESTAURANT365 AND COMPEAT PREPARE TO TRANSFORM HOW Today, Restaurant365 announced the acquisition of Compeat, a well-known provider of restaurant back office, workforce, and business intelligence software.This is a big step for us, very exciting to me, and I wanted to tell you why we chose to do it. The goal. We founded Restaurant365 in 2011 with the goal of providing restaurant operators a powerful tool to help simplify their lives and SIMPLIFYING THE P&L AND OTHER KEY METRICS: A GUIDE FOR The guide includes a finance terms cheat sheet, how to analyze a P&L, how to use sales and labor forecasting as a “crystal ball,” and how to properly order inventory. ESSENTIAL FOH RESTAURANT KPIS THAT INCREASE PROFITABILITY Data drives successful restaurants. After all, it’s hard to improve a metric if you don’t know your starting point. You can use data to improve restaurant operations, both in your front of house (FOH) and back of house (BOH).FIXED ASSET FEATURE
What is the New Fixed Asset Feature? The Fixed Assets feature allows you to create and track each of your Fixed Assets in R365. Automatic Depreciation can then be performed based on the Asset Classes, and Categories that you set and maintain. HOW TO SET UP AND RUN A GHOST KITCHEN FOR YOUR RESTAURANT What is a ghost kitchen? In the strictest sense of the term, a ghost kitchen is an off-premise facility for the preparation of food for delivery.Sometimes called a virtual restaurant, virtual kitchen or cloud kitchen, a ghost kitchen is a food-service business NEWEST ROUND OF PPP FUNDS MORE ADVANTAGEOUS FOR RESTAURANT Updated January 25, 2021. At long last, Congress agreed on a new $900 billion stimulus package and the president signed it into law last week. Mercifully, it contains some help for restaurant businesses hurt by the pandemic, with the inclusion of funding for a second round of forgivable loans through the Paycheck Protection Program (PPP) for small businesses experiencing significant revenue RESTAURANT PAYROLL 101: EVERYTHING YOU NEED TO KNOW Payroll for restaurant employees. Payroll is the process through which a business calculates and distributes wages to employees. For the restaurant industry in particular, there are industry-specific laws about scheduling and tipped employees that need to be taken intoconsideration.
RESTAURANT INVENTORY SPREADSHEET TO GET STARTED WITH Restaurant inventory management is the process of monitoring the food and beverage ingredients in your restaurant. Monitoring your inventory documents what food and beverage product is coming into your restaurant, what is leaving your restaurant as product sold, RESTAURANT MANAGEMENT SOFTWARE Restaurant365 is a cloud-based, all-in-one, restaurant management software platform for successful restaurant operation. It connects to POS, payroll, vendors and banks. Schedule a demo today. RESTAURANT INDUSTRY TRENDS AND ANALYSIS IN 2020 March 11: The beginning of the downturn as states begin to restrict dine-in service. April 15: Stimulus checks begin to hit bank accounts, a slight uptick in sales can be seen. May 1: States begin to re-open, notably GA & TX. This starts an upward trend of dine-in sales. June 26: As COVID case increase in a second wave, sales at restaurants THE EMPLOYEE RETENTION TAX CREDIT: IS YOUR RESTAURANT The maximum credit amount has also increased to $7,000 per employee per quarter of 2021 ($10,000 in qualified wages x 70%) for a possible $33,000 credit per employee. This is a significant increase from the previous annual cap of $5,000 per employee ($10,000 in qualified wages x 50%). Also, the full-time employees (FTE) threshold is up to 500 RESTAURANT INVENTORY MANAGEMENT SOFTWARE Restaurant Inventory Management Software. Experience the Future of Restaurant Inventory Management. Get better information with less effort so all your managers can control food costs like the very best. Uncover your restaurants’ hidden food cost problems with the most powerful, easy-to-use system – a system that’s fully connected toyour
HOW TO CALCULATE A RESTAURANT BREAK-EVEN POINT (WITH FREE Regulations and public advisories for restaurants during the coronavirus pandemic range widely throughout the country. If your state allows dine-in, or perhaps delivery only, you are working to make critical decisions about staying open, changing your dining options (for instance, only seating customers 6 ft. apart), modifying your menu to serve takeout, or closing temporarily. 10 OPERATIONAL CHALLENGES RESTAURANTS SHOULD EXPECT IN Here are the top 10 operational challenges restaurant operators should expect in 2020: 1. Finding and training staff. Employees determine the customer service experience in a restaurant. But with restaurant industry turnover rate at a post-recession high of 75%, restaurateursare
MANAGING YOUR RESTAURANT BALANCE SHEET AND FINANCIAL A balance sheet shows the net worth of a restaurant at a certain moment in time, detailing your restaurant’s assets, liabilities, and equity. Your balance sheet empowers you to understand your general financial health in the moment, as well as forecast your short-term and long-term cash flow. With your cash statement in hand, you knowwhether
WHAT IS THE AVERAGE PROFIT MARGIN FOR A RESTAURANT What is the average profit margin for a restaurant can be an essential, but tough, question to answer. While profit margin may be a widely known metric, it can be difficult to fully understand everything that affects the calculation. CALCULATE YOUR BREAK-EVEN POINT Break Even Calculator. How to Calculate a Restaurant Break-Even Point. Your break-even point is what sales you need for a certain period of time to not lose money, or “break even.”. This is a financial calculation that can help you make critical staffing decisions asBANK RECONCILIATION
Bank Reconciliation. This opens in a new window. These customers talk about doing bank reconciliation for all of their restaurant locations in minutes. Share this with your accounting prospects. RESTAURANT MANAGEMENT SOFTWARE Restaurant365 is a cloud-based, all-in-one, restaurant management software platform for successful restaurant operation. It connects to POS, payroll, vendors and banks. Schedule a demo today. RESTAURANT INDUSTRY TRENDS AND ANALYSIS IN 2020 March 11: The beginning of the downturn as states begin to restrict dine-in service. April 15: Stimulus checks begin to hit bank accounts, a slight uptick in sales can be seen. May 1: States begin to re-open, notably GA & TX. This starts an upward trend of dine-in sales. June 26: As COVID case increase in a second wave, sales at restaurants THE EMPLOYEE RETENTION TAX CREDIT: IS YOUR RESTAURANT The maximum credit amount has also increased to $7,000 per employee per quarter of 2021 ($10,000 in qualified wages x 70%) for a possible $33,000 credit per employee. This is a significant increase from the previous annual cap of $5,000 per employee ($10,000 in qualified wages x 50%). Also, the full-time employees (FTE) threshold is up to 500 RESTAURANT INVENTORY MANAGEMENT SOFTWARE Restaurant Inventory Management Software. Experience the Future of Restaurant Inventory Management. Get better information with less effort so all your managers can control food costs like the very best. Uncover your restaurants’ hidden food cost problems with the most powerful, easy-to-use system – a system that’s fully connected toyour
HOW TO CALCULATE A RESTAURANT BREAK-EVEN POINT (WITH FREE Regulations and public advisories for restaurants during the coronavirus pandemic range widely throughout the country. If your state allows dine-in, or perhaps delivery only, you are working to make critical decisions about staying open, changing your dining options (for instance, only seating customers 6 ft. apart), modifying your menu to serve takeout, or closing temporarily. 10 OPERATIONAL CHALLENGES RESTAURANTS SHOULD EXPECT IN Here are the top 10 operational challenges restaurant operators should expect in 2020: 1. Finding and training staff. Employees determine the customer service experience in a restaurant. But with restaurant industry turnover rate at a post-recession high of 75%, restaurateursare
MANAGING YOUR RESTAURANT BALANCE SHEET AND FINANCIAL A balance sheet shows the net worth of a restaurant at a certain moment in time, detailing your restaurant’s assets, liabilities, and equity. Your balance sheet empowers you to understand your general financial health in the moment, as well as forecast your short-term and long-term cash flow. With your cash statement in hand, you knowwhether
WHAT IS THE AVERAGE PROFIT MARGIN FOR A RESTAURANT What is the average profit margin for a restaurant can be an essential, but tough, question to answer. While profit margin may be a widely known metric, it can be difficult to fully understand everything that affects the calculation. CALCULATE YOUR BREAK-EVEN POINT Break Even Calculator. How to Calculate a Restaurant Break-Even Point. Your break-even point is what sales you need for a certain period of time to not lose money, or “break even.”. This is a financial calculation that can help you make critical staffing decisions asBANK RECONCILIATION
Bank Reconciliation. This opens in a new window. These customers talk about doing bank reconciliation for all of their restaurant locations in minutes. Share this with your accounting prospects. RESTAURANT PAYROLL SOFTWARE Restaurant Payroll & HR Software. Attract, Hire, and Retain the Best Employees. Streamline the entire employee lifecycle, from hire to retire, with restaurant-specific payroll and HR technology. Built for high-volume, fast-paced restaurants, R365 Payroll + HR makes it easy for you to hire, onboard, pay, and support your workforce. Get a FreeDemo.
PIZZA RESTAURANT SOFTWARE Restaurant365 is a cloud-based accounting and operations platform designed specifically for pizza and restaurant businesses. Here’s how we can increase the productivity and profitability of your pizza business. Multi-location Accounting. Our accounting software scales to meet the needs of your growing pizza concepts. Smart Labor Scheduling. CATERING MANAGEMENT SOFTWARE Catering Management Software. Operate a Profitable Catering Business. The Restaurant365 catering module is fully integrated into accounting, operations, scheduling and food costing to give you everything you need to run a successful catering business in a single platform. Get a PAYCHECK PROTECTION PROGRAM (PPP) FAQ FOR RESTAURANT The following are actual questions asked by restaurant operators about the Paycheck Protection Program (PPP). For simplicity, PPP1 refers to the first round of PPP loans under the CARES Act in 2020 and PPP2 refers to the newest round of PPP loans under the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (Economic Aid Act) as part of the Consolidated Appropriations Act, 2021. MAKING SENSE OF THE $120 BILLION RESTAURANTS ACT OF 2021 June 15, 2020: The Real Economic Support That Acknowledges Unique Restaurant Assistance Needed to Survive Act (RESTAURANTS Act of 2020) was introduced in a previous session of Congress and was passed by the House but was not voted on by the Senate. February 4, 2021: In a 90-10 Senate vote, the Restaurant Rescue Plan, a $25 billion grant relief program for restaurants, was added to the AmericanBANK RECONCILIATION
Bank Reconciliation. This opens in a new window. These customers talk about doing bank reconciliation for all of their restaurant locations in minutes. Share this with your accounting prospects. RESTAURANT PAYROLL 101: EVERYTHING YOU NEED TO KNOW The ideal labor cost percentage can vary widely with your particular restaurant’s business model. The common benchmark for most restaurants is a labor cost percentage between 25%-35% of sales, but this may range depending on your industry segment: 25%: quick service restaurants with faster customer transactions and less specializedlabor.
FIXED ASSET FEATURE
Fixed Asset Feature - Restaurant365. What is the New Fixed Asset Feature? The Fixed Assets feature allows you to create and track each of your Fixed Assets in R365. Automatic Depreciation can then be performed based on the Asset Classes, and Categories that you set and maintain. The function supports straight line depreciation with fourin
HTTP://WWW.RESTAURANT365.COM/SUPPORT/ASK-THE-EXPERTS/ Refresher Training, Data Cleanup, or maybe you’re ready to get on top of your Actual vs Theoretical cost reports. Wherever you are in your optimization journey, check out our recommended services below, or submit a unique request to help make the most of your investment. WHAT IS POS INTEGRATION? HOW TO EFFECTIVELY USE IT FOR What POS integration means for financial reporting. 1. Daily sales summary. A POS-integrated platform creates transactions within your restaurant accounting software, labeling the “Daily Sales Summary” for each day and each restaurant location. A journal entry about revenue, tenders, and discounts is recorded from each sales ticket. RESTAURANT MANAGEMENT SOFTWARE Restaurant365 is a cloud-based, all-in-one, restaurant management software platform for successful restaurant operation. It connects to POS, payroll, vendors and banks. Schedule a demo today. RESTAURANT INDUSTRY TRENDS AND ANALYSIS IN 2020 March 11: The beginning of the downturn as states begin to restrict dine-in service. April 15: Stimulus checks begin to hit bank accounts, a slight uptick in sales can be seen. May 1: States begin to re-open, notably GA & TX. This starts an upward trend of dine-in sales. June 26: As COVID case increase in a second wave, sales at restaurants THE EMPLOYEE RETENTION TAX CREDIT: IS YOUR RESTAURANT The maximum credit amount has also increased to $7,000 per employee per quarter of 2021 ($10,000 in qualified wages x 70%) for a possible $33,000 credit per employee. This is a significant increase from the previous annual cap of $5,000 per employee ($10,000 in qualified wages x 50%). Also, the full-time employees (FTE) threshold is up to 500 RESTAURANT INVENTORY MANAGEMENT SOFTWARE Restaurant Inventory Management Software. Experience the Future of Restaurant Inventory Management. Get better information with less effort so all your managers can control food costs like the very best. Uncover your restaurants’ hidden food cost problems with the most powerful, easy-to-use system – a system that’s fully connected toyour
HOW TO CALCULATE A RESTAURANT BREAK-EVEN POINT (WITH FREE Regulations and public advisories for restaurants during the coronavirus pandemic range widely throughout the country. If your state allows dine-in, or perhaps delivery only, you are working to make critical decisions about staying open, changing your dining options (for instance, only seating customers 6 ft. apart), modifying your menu to serve takeout, or closing temporarily. 10 OPERATIONAL CHALLENGES RESTAURANTS SHOULD EXPECT IN Here are the top 10 operational challenges restaurant operators should expect in 2020: 1. Finding and training staff. Employees determine the customer service experience in a restaurant. But with restaurant industry turnover rate at a post-recession high of 75%, restaurateursare
MANAGING YOUR RESTAURANT BALANCE SHEET AND FINANCIAL A balance sheet shows the net worth of a restaurant at a certain moment in time, detailing your restaurant’s assets, liabilities, and equity. Your balance sheet empowers you to understand your general financial health in the moment, as well as forecast your short-term and long-term cash flow. With your cash statement in hand, you knowwhether
WHAT IS THE AVERAGE PROFIT MARGIN FOR A RESTAURANT What is the average profit margin for a restaurant can be an essential, but tough, question to answer. While profit margin may be a widely known metric, it can be difficult to fully understand everything that affects the calculation. CALCULATE YOUR BREAK-EVEN POINT Break Even Calculator. How to Calculate a Restaurant Break-Even Point. Your break-even point is what sales you need for a certain period of time to not lose money, or “break even.”. This is a financial calculation that can help you make critical staffing decisions asBANK RECONCILIATION
Bank Reconciliation. This opens in a new window. These customers talk about doing bank reconciliation for all of their restaurant locations in minutes. Share this with your accounting prospects. RESTAURANT MANAGEMENT SOFTWARE Restaurant365 is a cloud-based, all-in-one, restaurant management software platform for successful restaurant operation. It connects to POS, payroll, vendors and banks. Schedule a demo today. RESTAURANT INDUSTRY TRENDS AND ANALYSIS IN 2020 March 11: The beginning of the downturn as states begin to restrict dine-in service. April 15: Stimulus checks begin to hit bank accounts, a slight uptick in sales can be seen. May 1: States begin to re-open, notably GA & TX. This starts an upward trend of dine-in sales. June 26: As COVID case increase in a second wave, sales at restaurants THE EMPLOYEE RETENTION TAX CREDIT: IS YOUR RESTAURANT The maximum credit amount has also increased to $7,000 per employee per quarter of 2021 ($10,000 in qualified wages x 70%) for a possible $33,000 credit per employee. This is a significant increase from the previous annual cap of $5,000 per employee ($10,000 in qualified wages x 50%). Also, the full-time employees (FTE) threshold is up to 500 RESTAURANT INVENTORY MANAGEMENT SOFTWARE Restaurant Inventory Management Software. Experience the Future of Restaurant Inventory Management. Get better information with less effort so all your managers can control food costs like the very best. Uncover your restaurants’ hidden food cost problems with the most powerful, easy-to-use system – a system that’s fully connected toyour
HOW TO CALCULATE A RESTAURANT BREAK-EVEN POINT (WITH FREE Regulations and public advisories for restaurants during the coronavirus pandemic range widely throughout the country. If your state allows dine-in, or perhaps delivery only, you are working to make critical decisions about staying open, changing your dining options (for instance, only seating customers 6 ft. apart), modifying your menu to serve takeout, or closing temporarily. 10 OPERATIONAL CHALLENGES RESTAURANTS SHOULD EXPECT IN Here are the top 10 operational challenges restaurant operators should expect in 2020: 1. Finding and training staff. Employees determine the customer service experience in a restaurant. But with restaurant industry turnover rate at a post-recession high of 75%, restaurateursare
MANAGING YOUR RESTAURANT BALANCE SHEET AND FINANCIAL A balance sheet shows the net worth of a restaurant at a certain moment in time, detailing your restaurant’s assets, liabilities, and equity. Your balance sheet empowers you to understand your general financial health in the moment, as well as forecast your short-term and long-term cash flow. With your cash statement in hand, you knowwhether
WHAT IS THE AVERAGE PROFIT MARGIN FOR A RESTAURANT What is the average profit margin for a restaurant can be an essential, but tough, question to answer. While profit margin may be a widely known metric, it can be difficult to fully understand everything that affects the calculation. CALCULATE YOUR BREAK-EVEN POINT Break Even Calculator. How to Calculate a Restaurant Break-Even Point. Your break-even point is what sales you need for a certain period of time to not lose money, or “break even.”. This is a financial calculation that can help you make critical staffing decisions asBANK RECONCILIATION
Bank Reconciliation. This opens in a new window. These customers talk about doing bank reconciliation for all of their restaurant locations in minutes. Share this with your accounting prospects. RESTAURANT PAYROLL SOFTWARE Restaurant Payroll & HR Software. Attract, Hire, and Retain the Best Employees. Streamline the entire employee lifecycle, from hire to retire, with restaurant-specific payroll and HR technology. Built for high-volume, fast-paced restaurants, R365 Payroll + HR makes it easy for you to hire, onboard, pay, and support your workforce. Get a FreeDemo.
PIZZA RESTAURANT SOFTWARE Restaurant365 is a cloud-based accounting and operations platform designed specifically for pizza and restaurant businesses. Here’s how we can increase the productivity and profitability of your pizza business. Multi-location Accounting. Our accounting software scales to meet the needs of your growing pizza concepts. Smart Labor Scheduling. CATERING MANAGEMENT SOFTWARE Catering Management Software. Operate a Profitable Catering Business. The Restaurant365 catering module is fully integrated into accounting, operations, scheduling and food costing to give you everything you need to run a successful catering business in a single platform. Get a PAYCHECK PROTECTION PROGRAM (PPP) FAQ FOR RESTAURANT The following are actual questions asked by restaurant operators about the Paycheck Protection Program (PPP). For simplicity, PPP1 refers to the first round of PPP loans under the CARES Act in 2020 and PPP2 refers to the newest round of PPP loans under the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (Economic Aid Act) as part of the Consolidated Appropriations Act, 2021. MAKING SENSE OF THE $120 BILLION RESTAURANTS ACT OF 2021 June 15, 2020: The Real Economic Support That Acknowledges Unique Restaurant Assistance Needed to Survive Act (RESTAURANTS Act of 2020) was introduced in a previous session of Congress and was passed by the House but was not voted on by the Senate. February 4, 2021: In a 90-10 Senate vote, the Restaurant Rescue Plan, a $25 billion grant relief program for restaurants, was added to the AmericanBANK RECONCILIATION
Bank Reconciliation. This opens in a new window. These customers talk about doing bank reconciliation for all of their restaurant locations in minutes. Share this with your accounting prospects. RESTAURANT PAYROLL 101: EVERYTHING YOU NEED TO KNOW The ideal labor cost percentage can vary widely with your particular restaurant’s business model. The common benchmark for most restaurants is a labor cost percentage between 25%-35% of sales, but this may range depending on your industry segment: 25%: quick service restaurants with faster customer transactions and less specializedlabor.
FIXED ASSET FEATURE
Fixed Asset Feature - Restaurant365. What is the New Fixed Asset Feature? The Fixed Assets feature allows you to create and track each of your Fixed Assets in R365. Automatic Depreciation can then be performed based on the Asset Classes, and Categories that you set and maintain. The function supports straight line depreciation with fourin
HTTP://WWW.RESTAURANT365.COM/SUPPORT/ASK-THE-EXPERTS/ Refresher Training, Data Cleanup, or maybe you’re ready to get on top of your Actual vs Theoretical cost reports. Wherever you are in your optimization journey, check out our recommended services below, or submit a unique request to help make the most of your investment. WHAT IS POS INTEGRATION? HOW TO EFFECTIVELY USE IT FOR What POS integration means for financial reporting. 1. Daily sales summary. A POS-integrated platform creates transactions within your restaurant accounting software, labeling the “Daily Sales Summary” for each day and each restaurant location. A journal entry about revenue, tenders, and discounts is recorded from each sales ticket. RESTAURANT MANAGEMENT SOFTWARE Restaurant365 is a cloud-based, all-in-one, restaurant management software platform for successful restaurant operation. It connects to POS, payroll, vendors and banks. Schedule a demo today. RESTAURANT INDUSTRY TRENDS AND ANALYSIS IN 2020 March 11: The beginning of the downturn as states begin to restrict dine-in service. April 15: Stimulus checks begin to hit bank accounts, a slight uptick in sales can be seen. May 1: States begin to re-open, notably GA & TX. This starts an upward trend of dine-in sales. June 26: As COVID case increase in a second wave, sales at restaurants THE EMPLOYEE RETENTION TAX CREDIT: IS YOUR RESTAURANT The maximum credit amount has also increased to $7,000 per employee per quarter of 2021 ($10,000 in qualified wages x 70%) for a possible $33,000 credit per employee. This is a significant increase from the previous annual cap of $5,000 per employee ($10,000 in qualified wages x 50%). Also, the full-time employees (FTE) threshold is up to 500 PAYCHECK PROTECTION PROGRAM (PPP) FAQ FOR RESTAURANT The following are actual questions asked by restaurant operators about the Paycheck Protection Program (PPP). For simplicity, PPP1 refers to the first round of PPP loans under the CARES Act in 2020 and PPP2 refers to the newest round of PPP loans under the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (Economic Aid Act) as part of the Consolidated Appropriations Act, 2021. MANAGING YOUR RESTAURANT BALANCE SHEET AND FINANCIAL A balance sheet shows the net worth of a restaurant at a certain moment in time, detailing your restaurant’s assets, liabilities, and equity. Your balance sheet empowers you to understand your general financial health in the moment, as well as forecast your short-term and long-term cash flow. With your cash statement in hand, you knowwhether
HOW TO CALCULATE A RESTAURANT BREAK-EVEN POINT (WITH FREE Regulations and public advisories for restaurants during the coronavirus pandemic range widely throughout the country. If your state allows dine-in, or perhaps delivery only, you are working to make critical decisions about staying open, changing your dining options (for instance, only seating customers 6 ft. apart), modifying your menu to serve takeout, or closing temporarily. GUEST BLOG: PPP LOAN FORGIVENESS FOR RESTAURANTS As of June 5, the passing of the Paycheck Protection Program Flexibility Act of 2020 extends the 8-week forgiveness period to 24 weeks. The 24-week forgiveness period is referred to as the “Covered Period.”. This is the timeframe in which you must utilize the PPP loan proceeds received. The first day of the Covered Period for yourPPP loan
WHAT IS THE AVERAGE PROFIT MARGIN FOR A RESTAURANT What is the average profit margin for a restaurant can be an essential, but tough, question to answer. While profit margin may be a widely known metric, it can be difficult to fully understand everything that affects the calculation. 10 OPERATIONAL CHALLENGES RESTAURANTS SHOULD EXPECT IN Here are the top 10 operational challenges restaurant operators should expect in 2020: 1. Finding and training staff. Employees determine the customer service experience in a restaurant. But with restaurant industry turnover rate at a post-recession high of 75%, restaurateursare
BANK RECONCILIATION
Bank Reconciliation. This opens in a new window. These customers talk about doing bank reconciliation for all of their restaurant locations in minutes. Share this with your accounting prospects. RESTAURANT MANAGEMENT SOFTWARE Restaurant365 is a cloud-based, all-in-one, restaurant management software platform for successful restaurant operation. It connects to POS, payroll, vendors and banks. Schedule a demo today. RESTAURANT INDUSTRY TRENDS AND ANALYSIS IN 2020 March 11: The beginning of the downturn as states begin to restrict dine-in service. April 15: Stimulus checks begin to hit bank accounts, a slight uptick in sales can be seen. May 1: States begin to re-open, notably GA & TX. This starts an upward trend of dine-in sales. June 26: As COVID case increase in a second wave, sales at restaurants THE EMPLOYEE RETENTION TAX CREDIT: IS YOUR RESTAURANT The maximum credit amount has also increased to $7,000 per employee per quarter of 2021 ($10,000 in qualified wages x 70%) for a possible $33,000 credit per employee. This is a significant increase from the previous annual cap of $5,000 per employee ($10,000 in qualified wages x 50%). Also, the full-time employees (FTE) threshold is up to 500 PAYCHECK PROTECTION PROGRAM (PPP) FAQ FOR RESTAURANT The following are actual questions asked by restaurant operators about the Paycheck Protection Program (PPP). For simplicity, PPP1 refers to the first round of PPP loans under the CARES Act in 2020 and PPP2 refers to the newest round of PPP loans under the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (Economic Aid Act) as part of the Consolidated Appropriations Act, 2021. MANAGING YOUR RESTAURANT BALANCE SHEET AND FINANCIAL A balance sheet shows the net worth of a restaurant at a certain moment in time, detailing your restaurant’s assets, liabilities, and equity. Your balance sheet empowers you to understand your general financial health in the moment, as well as forecast your short-term and long-term cash flow. With your cash statement in hand, you knowwhether
HOW TO CALCULATE A RESTAURANT BREAK-EVEN POINT (WITH FREE Regulations and public advisories for restaurants during the coronavirus pandemic range widely throughout the country. If your state allows dine-in, or perhaps delivery only, you are working to make critical decisions about staying open, changing your dining options (for instance, only seating customers 6 ft. apart), modifying your menu to serve takeout, or closing temporarily. GUEST BLOG: PPP LOAN FORGIVENESS FOR RESTAURANTS As of June 5, the passing of the Paycheck Protection Program Flexibility Act of 2020 extends the 8-week forgiveness period to 24 weeks. The 24-week forgiveness period is referred to as the “Covered Period.”. This is the timeframe in which you must utilize the PPP loan proceeds received. The first day of the Covered Period for yourPPP loan
WHAT IS THE AVERAGE PROFIT MARGIN FOR A RESTAURANT What is the average profit margin for a restaurant can be an essential, but tough, question to answer. While profit margin may be a widely known metric, it can be difficult to fully understand everything that affects the calculation. 10 OPERATIONAL CHALLENGES RESTAURANTS SHOULD EXPECT IN Here are the top 10 operational challenges restaurant operators should expect in 2020: 1. Finding and training staff. Employees determine the customer service experience in a restaurant. But with restaurant industry turnover rate at a post-recession high of 75%, restaurateursare
BANK RECONCILIATION
Bank Reconciliation. This opens in a new window. These customers talk about doing bank reconciliation for all of their restaurant locations in minutes. Share this with your accounting prospects. RESTAURANT PAYROLL SOFTWARE Restaurant Payroll & HR Software. Attract, Hire, and Retain the Best Employees. Streamline the entire employee lifecycle, from hire to retire, with restaurant-specific payroll and HR technology. Built for high-volume, fast-paced restaurants, R365 Payroll + HR makes it easy for you to hire, onboard, pay, and support your workforce. Get a FreeDemo.
CATERING MANAGEMENT SOFTWARE Catering Management Software. Operate a Profitable Catering Business. The Restaurant365 catering module is fully integrated into accounting, operations, scheduling and food costing to give you everything you need to run a successful catering business in a single platform. Get aFIXED ASSET FEATURE
Fixed Asset Feature - Restaurant365. What is the New Fixed Asset Feature? The Fixed Assets feature allows you to create and track each of your Fixed Assets in R365. Automatic Depreciation can then be performed based on the Asset Classes, and Categories that you set and maintain. The function supports straight line depreciation with fourin
HOW TO SET UP AND RUN A GHOST KITCHEN FOR YOUR RESTAURANT How to set up and run your ghost kitchen. If you decide to launch a ghost kitchen for your existing restaurant business, these tips will help you set up and run your new business venture. 1. Optimize Your Menu for Delivery. You must focus on prep time, plus food temperature,quality, and taste.
MAKING SENSE OF THE $120 BILLION RESTAURANTS ACT OF 2021 June 15, 2020: The Real Economic Support That Acknowledges Unique Restaurant Assistance Needed to Survive Act (RESTAURANTS Act of 2020) was introduced in a previous session of Congress and was passed by the House but was not voted on by the Senate. February 4, 2021: In a 90-10 Senate vote, the Restaurant Rescue Plan, a $25 billion grant relief program for restaurants, was added to the American RESTAURANT INVENTORY SPREADSHEET TO GET STARTED WITH 5. Print a copy of the spreadsheet to manually record the inventory items. Enter each of your food and beverage items into the proper categories, assign a count unit and unit price to each, and complete the other columns for each item. 6. Copy the numbers into your computer spreadsheet. 5 TIPS FOR MAXIMIZING RESTAURANT OPERATIONS MANAGEMENT 3. Reduce Your Restaurant Labor Cost. Besides your food cost, your restaurant’s other major operating expense is your labor budget. Optimizing labor is a notoriously difficult task, because you need to consider a mix of operational issues, customer NEWEST ROUND OF PPP FUNDS MORE ADVANTAGEOUS FOR RESTAURANT Updated January 25, 2021. At long last, Congress agreed on a new $900 billion stimulus package and the president signed it into law last week. Mercifully, it contains some help for restaurant businesses hurt by the pandemic, with the inclusion of funding for a second round of forgivable loans through the Paycheck Protection Program (PPP) for small businesses experiencing significant revenue RESTAURANT PAYROLL 101: EVERYTHING YOU NEED TO KNOW The ideal labor cost percentage can vary widely with your particular restaurant’s business model. The common benchmark for most restaurants is a labor cost percentage between 25%-35% of sales, but this may range depending on your industry segment: 25%: quick service restaurants with faster customer transactions and less specializedlabor.
HOW TO CALCULATE PRIME COST IN A RESTAURANT Prime cost includes the products and the people that keep your restaurant in business. You can calculate your prime cost using the following prime cost formula: Total Cost of Goods Sold + Total Labor Costs = Prime Cost. In addition, many restaurant operators contextualize their prime cost by comparing prime cost to total salesfor a specific
RESTAURANT MANAGEMENT SOFTWARE Restaurant365 is a cloud-based, all-in-one, restaurant management software platform for successful restaurant operation. It connects to POS, payroll, vendors and banks. Schedule a demo today. RESTAURANT INDUSTRY TRENDS AND ANALYSIS IN 2020 March 11: The beginning of the downturn as states begin to restrict dine-in service. April 15: Stimulus checks begin to hit bank accounts, a slight uptick in sales can be seen. May 1: States begin to re-open, notably GA & TX. This starts an upward trend of dine-in sales. June 26: As COVID case increase in a second wave, sales at restaurants THE EMPLOYEE RETENTION TAX CREDIT: IS YOUR RESTAURANT The maximum credit amount has also increased to $7,000 per employee per quarter of 2021 ($10,000 in qualified wages x 70%) for a possible $33,000 credit per employee. This is a significant increase from the previous annual cap of $5,000 per employee ($10,000 in qualified wages x 50%). Also, the full-time employees (FTE) threshold is up to 500 MANAGING YOUR RESTAURANT BALANCE SHEET AND FINANCIAL A balance sheet shows the net worth of a restaurant at a certain moment in time, detailing your restaurant’s assets, liabilities, and equity. Your balance sheet empowers you to understand your general financial health in the moment, as well as forecast your short-term and long-term cash flow. With your cash statement in hand, you knowwhether
NEWEST ROUND OF PPP FUNDS MORE ADVANTAGEOUS FOR RESTAURANT Good news for restaurants. While most businesses are able to get a PPP loan up to 250% (2.5 times) of their average 2019 monthly payroll, the new legislation allows accommodation and food service businesses (hotels and restaurants) to borrow up to 350% (3.5 times) of average 2019 monthly payroll costs. The maximum loan amount is $2 million for GUEST BLOG: PPP LOAN FORGIVENESS FOR RESTAURANTS As of June 5, the passing of the Paycheck Protection Program Flexibility Act of 2020 extends the 8-week forgiveness period to 24 weeks. The 24-week forgiveness period is referred to as the “Covered Period.”. This is the timeframe in which you must utilize the PPP loan proceeds received. The first day of the Covered Period for yourPPP loan
HOW TO CALCULATE A RESTAURANT BREAK-EVEN POINT (WITH FREE Regulations and public advisories for restaurants during the coronavirus pandemic range widely throughout the country. If your state allows dine-in, or perhaps delivery only, you are working to make critical decisions about staying open, changing your dining options (for instance, only seating customers 6 ft. apart), modifying your menu to serve takeout, or closing temporarily. HOW TO REDUCE FOOD COST IN RESTAURANT MANAGEMENT 3. Use Inventory Tracking to Reduce Waste: purchase inventory at the right level. One of the most direct ways to reduce food cost is to avoid purchasing what you don’t need. With data-driven suggestive ordering, you and your managers are better able to purchase inventory at the right level to reduce order waste. WHAT IS THE AVERAGE PROFIT MARGIN FOR A RESTAURANT What is the average profit margin for a restaurant can be an essential, but tough, question to answer. While profit margin may be a widely known metric, it can be difficult to fully understand everything that affects the calculation.BANK RECONCILIATION
Bank Reconciliation. This opens in a new window. These customers talk about doing bank reconciliation for all of their restaurant locations in minutes. Share this with your accounting prospects. RESTAURANT MANAGEMENT SOFTWARE Restaurant365 is a cloud-based, all-in-one, restaurant management software platform for successful restaurant operation. It connects to POS, payroll, vendors and banks. Schedule a demo today. RESTAURANT INDUSTRY TRENDS AND ANALYSIS IN 2020 March 11: The beginning of the downturn as states begin to restrict dine-in service. April 15: Stimulus checks begin to hit bank accounts, a slight uptick in sales can be seen. May 1: States begin to re-open, notably GA & TX. This starts an upward trend of dine-in sales. June 26: As COVID case increase in a second wave, sales at restaurants THE EMPLOYEE RETENTION TAX CREDIT: IS YOUR RESTAURANT The maximum credit amount has also increased to $7,000 per employee per quarter of 2021 ($10,000 in qualified wages x 70%) for a possible $33,000 credit per employee. This is a significant increase from the previous annual cap of $5,000 per employee ($10,000 in qualified wages x 50%). Also, the full-time employees (FTE) threshold is up to 500 MANAGING YOUR RESTAURANT BALANCE SHEET AND FINANCIAL A balance sheet shows the net worth of a restaurant at a certain moment in time, detailing your restaurant’s assets, liabilities, and equity. Your balance sheet empowers you to understand your general financial health in the moment, as well as forecast your short-term and long-term cash flow. With your cash statement in hand, you knowwhether
NEWEST ROUND OF PPP FUNDS MORE ADVANTAGEOUS FOR RESTAURANT Good news for restaurants. While most businesses are able to get a PPP loan up to 250% (2.5 times) of their average 2019 monthly payroll, the new legislation allows accommodation and food service businesses (hotels and restaurants) to borrow up to 350% (3.5 times) of average 2019 monthly payroll costs. The maximum loan amount is $2 million for GUEST BLOG: PPP LOAN FORGIVENESS FOR RESTAURANTS As of June 5, the passing of the Paycheck Protection Program Flexibility Act of 2020 extends the 8-week forgiveness period to 24 weeks. The 24-week forgiveness period is referred to as the “Covered Period.”. This is the timeframe in which you must utilize the PPP loan proceeds received. The first day of the Covered Period for yourPPP loan
HOW TO CALCULATE A RESTAURANT BREAK-EVEN POINT (WITH FREE Regulations and public advisories for restaurants during the coronavirus pandemic range widely throughout the country. If your state allows dine-in, or perhaps delivery only, you are working to make critical decisions about staying open, changing your dining options (for instance, only seating customers 6 ft. apart), modifying your menu to serve takeout, or closing temporarily. HOW TO REDUCE FOOD COST IN RESTAURANT MANAGEMENT 3. Use Inventory Tracking to Reduce Waste: purchase inventory at the right level. One of the most direct ways to reduce food cost is to avoid purchasing what you don’t need. With data-driven suggestive ordering, you and your managers are better able to purchase inventory at the right level to reduce order waste. WHAT IS THE AVERAGE PROFIT MARGIN FOR A RESTAURANT What is the average profit margin for a restaurant can be an essential, but tough, question to answer. While profit margin may be a widely known metric, it can be difficult to fully understand everything that affects the calculation.BANK RECONCILIATION
Bank Reconciliation. This opens in a new window. These customers talk about doing bank reconciliation for all of their restaurant locations in minutes. Share this with your accounting prospects. RESTAURANT INVENTORY MANAGEMENT SOFTWARE Restaurant Inventory Management Software. Experience the Future of Restaurant Inventory Management. Get better information with less effort so all your managers can control food costs like the very best. Uncover your restaurants’ hidden food cost problems with the most powerful, easy-to-use system – a system that’s fully connected toyour
PAYCHECK PROTECTION PROGRAM (PPP) FAQ FOR RESTAURANT The following are actual questions asked by restaurant operators about the Paycheck Protection Program (PPP). For simplicity, PPP1 refers to the first round of PPP loans under the CARES Act in 2020 and PPP2 refers to the newest round of PPP loans under the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (Economic Aid Act) as part of the Consolidated Appropriations Act, 2021. CATERING MANAGEMENT SOFTWARE Catering Management Software. Operate a Profitable Catering Business. The Restaurant365 catering module is fully integrated into accounting, operations, scheduling and food costing to give you everything you need to run a successful catering business in a single platform. Get a GUEST BLOG: FIXED ASSET ACCOUNTING: SAY GOODBYE TO Capital projections based on lifecycles: For example, if you have 30 fixed assets that are scheduled for replacement this year, based on the estimated replacement costs, facility management software can help you calculate what your cash impact could look like in the coming year. Proper coding: Review and approve invoices as capital expenses before reconciling month end. NEWEST ROUND OF PPP FUNDS MORE ADVANTAGEOUS FOR RESTAURANT Updated January 25, 2021. At long last, Congress agreed on a new $900 billion stimulus package and the president signed it into law last week. Mercifully, it contains some help for restaurant businesses hurt by the pandemic, with the inclusion of funding for a second round of forgivable loans through the Paycheck Protection Program (PPP) for small businesses experiencing significant revenue RESTAURANT REOPENING CHECKLIST: TIPS FOR THRIVING Restaurant Reopening Checklist: Tips for Thriving. As states and localities start to reopen, restauranteurs begin to prepare for transitioning from off-premise channels to reopening their dining rooms, albeit in a limited approach. This checklist is meant to provide you with the guidance you need to reopen safely and thrive ina post-COVID world.
RESTAURANT PAYROLL 101: EVERYTHING YOU NEED TO KNOW The ideal labor cost percentage can vary widely with your particular restaurant’s business model. The common benchmark for most restaurants is a labor cost percentage between 25%-35% of sales, but this may range depending on your industry segment: 25%: quick service restaurants with faster customer transactions and less specializedlabor.
RESTAURANT INVENTORY SPREADSHEET TO GET STARTED WITH 5. Print a copy of the spreadsheet to manually record the inventory items. Enter each of your food and beverage items into the proper categories, assign a count unit and unit price to each, and complete the other columns for each item. 6. Copy the numbers into your computer spreadsheet. 5 TIPS FOR MAXIMIZING RESTAURANT OPERATIONS MANAGEMENT 3. Reduce Your Restaurant Labor Cost. Besides your food cost, your restaurant’s other major operating expense is your labor budget. Optimizing labor is a notoriously difficult task, because you need to consider a mix of operational issues, customer HOW TO CALCULATE PRIME COST IN A RESTAURANT Prime cost includes the products and the people that keep your restaurant in business. You can calculate your prime cost using the following prime cost formula: Total Cost of Goods Sold + Total Labor Costs = Prime Cost. In addition, many restaurant operators contextualize their prime cost by comparing prime cost to total salesfor a specific
Primary Menu __Menu
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Manage your catering operation seamlessly and profitably. * __ Labor & Scheduling____ * Employee Scheduling Create schedules based on sales forecasts to optimize your labor spend, save time, streamline the scheduling process and engage withemployees.
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View daily sales data at a glance, record manager log entries, track employee tasks, and store important restaurant documents. * __Payroll & HR____* Payroll & HR
Built for high-volume, fast-paced restaurants, R365 Payroll + HR makes it easy for you to hire, onboard, pay, and support your workforce. * Applicant Tracking System Filter for serious candidates and hire the best employees with R365 HIRE, an applicant tracking and onboarding system created specifically for the restaurant industry.* __ Reporting____
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* Financial Reporting Quickly visualize the financial health of your restaurant business with financial reports that enable data-driven decision making. * Restaurant Analytics and Dashboards Access all your business intelligence in a single, web-based platform*
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RESTAURANT MANAGEMENT SOFTWARE UNLOCK UP TO 5% IN FOOD AND LABOR COSTS Unlock your restaurant’s profitability by gaining more information in less time resulting in up to 5% savings in prime costs. Get a Free Demo LearnMore
SAY GOODBYE TO DISPARATE SYSTEMS Experience the only cloud-based, all-in-one restaurant accounting, payroll and HR, inventory, scheduling and reporting software that seamlessly integrates to your POS, vendors, and banking partners.Your Vendors
Your
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Your POS
R365
Connect
Control
Inventory
Streamline
Accounting
Optimize
Scheduling
Retain
Payroll + HR
Grow
YOUR VENDORS
Improve accuracy and save money by automatically sending purchase orders to vendors and receiving item-level invoices. Managers won't need to manually enter invoices and will be notified of any pricingerrors.
Learn More
YOUR BANK
Save time doing bank reconciliation by connecting your bank accounts to Restaurant365. Automatic matching of transactions from your bank means no more end-of-month reconciliation nightmares.Learn More
YOUR POS
Eliminate manual data transfers and get insights faster by automatically feeding check-level sales and punch-level labor data directly to Restaurant365. Daily reports give you timely information to make better decisions sooner.Learn More
R365 CONNECT
Restaurant365 uses an open API so you can connect to virtually any system or platform. There are endless possible uses of your data when you can retrieve and push data to and from your other systems.Learn More
INVENTORY
Control food costs by purchasing the right amount and uncovering hidden food cost problems. Sales forecasts and actual vs. theoretical costs make it easy for managers to keep money in the bank and excess food off your shelf.Learn More
ACCOUNTING
Streamline accounting processes by automating manual data entry. Integrating inventory, payroll, vendors, banks, and your POS to restaurant-specific accounting gives your team faster insights withless work.
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SCHEDULING
Optimize labor by giving your managers intelligent guardrails to schedule like the best. Guided scheduling, near-realtime dashboards, and schedule enforcement make it easy for any manager to optimizelabor like a pro.
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PAYROLL+HR
Attract, onboard, and retain the best restaurant employees by giving them a great experience throughout the employee lifecycle. Applicant tracking, restaurant-specific payroll, and benefits administration in one system reduces errors and enhances compliance.Learn More
GROW
See the growth your restaurant is truly capable of when your entire organization is connected through one system built specifically for restaurants. Get everyone on the same page, and get vital information to managers in time to make cost-slashing decisions. MORE THAN 12,000 RESTAURANTS TRUST RESTAURANT365Bruce Nelson
Nova Restaurant GroupCFO
“I was wasting time investigating falsities rather than managing. With our old system, I would spend 12 hours a week auditing. Now with Restaurant365, I spend an hour a week, freeing me up to focus on other areas that are aimed at growing our restaurant group versus keeping itaccountable.”
Scott Putman
Wetzel's Pretzels
Corp. Controller
With more than 300 locations, it used to take us a full day to process our weekly franchisee billing with Excel. That’s 20 percent of our time. Now that we’ve automated the process with Restaurant365, it takes 30 to 45 minutes from start to finish.
Steve Song
Luke’s Lobster
CFO
Because all of our data is in a centralized place, someone at my level can always see what is happening at the store level. There is no need to play detective because everything is connected and synced.
Amanda Jabs
Food Fight Restaurant GroupController
Restaurant365 has been a game changer administratively. The board is getting information quicker so we can plan for the future sooner.
Michael Zielinski
The Restaurant PeopleCFO
“With Restaurant365, we’ve been able to reduce our accounting resources by 20%, even while adding eight new locations.”
Glorian Leach
F&D: Cantina; Kitchen & Bar; Woodfired Italian KitchenCFO/Owner
Our old system lacked automation and proper communication from our POS system to a very non-efficient back-of-the-house structure. The moment I saw a demonstration of Restaurant365 I knew that it was exactly what we needed. I also realized that we could grow with this platform at our pace which has greatly paid off for us.
Bobby Pancake
High 5 Hospitality
Owner
“We have both franchise and independent restaurants. Having the ability to consolidate our P&L’s, roll them up in different ways, slice and dice the numbers is very powerful. To then be able to drill down to an invoice from the P&L, review sales trends, measure guest counts, forecast your business, schedule staff, audit time punches, review cash flow/bank balances – all in the same system – that is very convenient and a time saver.”
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URBANE CAFE MANAGERS SAVE 30% OF THEIR TIME WITH RESTAURANT365._ _
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RESTAURANT365 HELPS FOOD FIGHT RESTAURANT GROUP REFOCUS TIME ON GROWTH AND THE CUSTOMER EXPERIENCE [vc_single_image image="33352" img_size="...VIEW >
RESTAURANT TECHNOLOGY: INSIGHTS FOR GROWTHVIEW >
RESTAURANT365 HELPS FOOD FIGHT RESTAURANT GROUP REFOCUS TIME ON GROWTH AND THE CUSTOMER EXPERIENCE [vc_single_image image="33352" img_size="...VIEW >
RESTAURANT TECHNOLOGY: INSIGHTS FOR GROWTHVIEW >
RESTAURANT365 HELPS FOOD FIGHT RESTAURANT GROUP REFOCUS TIME ON GROWTH AND THE CUSTOMER EXPERIENCE [vc_single_image image="33352" img_size="...VIEW >
RESTAURANT TECHNOLOGY: INSIGHTS FOR GROWTHVIEW >
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