The team and I got into a lively discussion regarding the finer points of how to do budgeting for restaurants the other day. It was a great conversation and the accounting module for Restaurant365 handles so many variations. Restaurants have some numbers that are based off a % of another specific account (the Wine COGS account as a % of Wine Sales Revenue account). Other accounts are are based off of a group of accounts (Hourly Wages Expense as a % of all Food Sales Revenue accounts). And yet there are other accounts that are simply user-defined (like Rent Expense or Utilities.) Our developers were able to create a tool that facilitates each of these scenarios with an interface that looks like QuickBooks but is far superior in capabilities. Every restaurant budgets in a unique way to the tool needs to accomodate every scenario (and I didn’t even mention the roll up of location, area, and regional budgets.) It can get complicated which is why so many folks do it in Excel at the moment. Those days are quickly going to be gone!
Check out our Accounting landing page to learn more! https://restaurant365.wpengine.com/program-features/accounting/
Morgan Harris | Co-Founder | Restaurant365