Alright. So welcome, everyone. Thank you for joining our webinar today. My name is Denise Pritchard. I'm the marketing content manager here at Restaurant three sixty five, and I'm excited to be here with you today. We'll start off things, with a few quick housekeeping notes before jumping into the presentation. As we go, feel free to submit your questions by clicking on the question mark in the toolbar. If time allows, we'll answer as many as we can at the end. A link to the webinar recording will be sent to you in the next few days. And if you need help from us at any time, just contact us at marketing@restaurant365.com. Alright. Well, I am thrilled to introduce our speakers for today. We have Kevin McTighe, is a solutions engineer manager at Restaurant three sixty five. Before r three sixty five, he was the CFO and controller for several multiunit restaurant concepts, including Knock Knock Grill, Protein Bar and Kitchen, and Ruby Slipper Restaurant Group. He has worked with QuickBooks, Microsoft Dynamics, Compete Advantage, Sage Intacct, and Restaurant three sixty five, and today helps operators bring their systems and workflows together. Joining him today is Jack Athanas. Jack is an enterprise account executive at Restaurant three sixty five with more than ten years of restaurant technology experience. He specializes in helping McDonald's operators modernize their approach to restaurant accounting. Jack is based in Portsmouth, New Hampshire. Alright. I'll go ahead and pass the baton over to Jack. Awesome. Thanks, Denise. Pleased to have everyone here today. Excited to talk a little bit about some McDonald's specific accounting. So quick run through the agenda today. We'll talk through some of the back office challenges that we see today within the McDonald's landscape. And then from there, we'll transition over to Kevin to actually go in... Into a live in-depth demo of the software. We'll be talking about how we automate things like sales and labor into the GL, get into some topics about how we work to modernize AP with some of our vendor integrations, and then we'll wrap things up to actually show our reporting engine and some of our our real time actionable p and l's, and then we'll wrap with q and a at the end. Alright. So the back office challenge. We will proceed here to the next slide. Running a McDonald's business means watching your numbers store by store. You know, with the amount of transactions going on with McDonald's, everything has such a a massive accounting impact, and it's really important that we can get this information as quickly and as automated as possible so we can make real time actionable decisions for our business. So what we hear out in the McDonald's landscape today, you know, Kevin and I talked to hundreds of McDonald's restaurants on a weekly basis, and we keep hearing the same things out in market. Right? Closing out the month takes really long time. We're getting our final p and l. It's just a couple days ahead of the twenty fifth of the month, and we're at that point. It's just a little bit too late, and it's it's really difficult for owner operators to make proactive cost saving decisions throughout the month when they're getting the reports, just really a day or two before it needs to be sent off to corporate. Just some baseline trends we've seen throughout the restaurant industry. You know, costs are costs are rising everywhere today. 87% of operators were reporting higher food costs than last year. Similarly around labor, we've seen 77% of operators, admit to higher labor costs than a year ago, and then 52% of operators have have mentioned a raise in menu menu prices just so they can offset those costs to keep their margins in line. So the manual close step by step, again, getting into detail as to what we see today, things like sales and labor information getting into our GL system. Today, we see that as a manual task. Having to key in journal entries store by store, those sales and labor numbers. Invoices are a whole another mess. Right? Having to key those invoices in manually on a monthly basis, maybe chase invoices across your vendors, and then eventually reconciling everything for end of month, and we're closing the books weeks later. Right? So with all these manual tasks throughout the months with r three six five helps to automate, this is why we're seeing so long of time for our owner operators to get their reports to to close out month end of their legacy accounting programs because of this process that we see today. A lot of that day to day accounting things is done by hand and and can take a lot of time, which ultimately really slows down month end process. So part two. Right? We talked about what we see in the market today with McDonald's, and we'll talk a little bit about how r three six five can maybe fit into that and and change the way you're doing things and change the way you're looking at things today. So from here, we'll we'll part out here and talk a little bit about how restaurant three six five fits into this equation. Right? So there's three main areas in which we see r three six five can really transform your accounting process. First one being with... Being able to automate the GL, and we'll go into how we do that with McDonald's specifically, but we're able to flow in sales and labor on a daily basis automatically into r three six five without the need for a manual manipulation. Similarly to AP, we are able to integrate with a lot of the different McDonald's vendors, which we'll touch on the next slide. But, ultimately, we'll... Ultimately, what we're doing here is taking the pieces of day to day accounting that today is a manual that takes a lot of time, automating those steps in the process. So at the... So the culminating factor of this is being able to get daily visibility in your p and l's. We can pull in things like sales and labor daily, get our purchasing information from our invoices and our vendors automatically into the system. It able... It's really able to speed up this reporting process. And beyond that, you know, before we get into, like, how it works with McDonald's specifically, it's worth mentioning we know the McDonald's game well. We've been in McDonald's for more than ten years now. We work with over 3,000 McDonald's restaurants nationwide. And what we've built here is really a McDonald's specific experience within restaurant three six five. We we have the ability to tap into different spokes of that McDonald's business, whether it's on the point of sale end of things or on the vendor end of things or maybe even on the banking end of things. We have the ability to tap into those different spokes of McDonald's landscape. And then not to mention as well, for for some of our attendees on the call here today that utilize maybe a third party CPA, one of the NFCA firms that we see, Restaurant three six five is partnered with all of these accountants. Right? So it's probably a pretty good chance that if you're using an external CPA today, they're already fluent with Restaurant three six five, and it's been partnered with us for quite some time now. Awesome. So before we pass things off to Kevin to really demonstrate the product, I wanna take a second to really iron out the bones of the Restaurant three six five system. I've... I keep using this word automation. I keep using this word integration. How does that all work? Right? So within the McDonald's landscape, first and foremost, we integrate with QSR soft. What that means is on a daily basis, we're able to tap into each of your point of sales at each of your restaurant locations and automatically drag over the sales data from each of those locations on a daily basis. On the labor end of things, same deal. Whether you're using Harry or LifeLens, r three six five has an integration with both. So things like time punches, hours worked, employee pay rates, employee job codes, any sort of that labor information that will run through Harry or LifeLens, r three six five has the ability to connect to that and automatically flow in labor data as well. Secondly, major around AP is with your vendors. So similarly to point of sale in labor, r three six five integrates with a lot of the McDonald's, providers today. Providers like Martin Brauer, Frankie, Coca Cola, Hartstown. R three six five software speaks directly with the software of these providers where you make an order to, let's say, Martin Brauer, Frankie Coca Cola, that invoice is gonna flow into the system automatically, again, eliminating that need to manually code out invoices. Common question here is what about for our smaller vendors? What about somebody that's not a major broad line like a Martin Brauer? Maybe it's just a a a window washer or a guy or gal needs to come by the restaurant and fix the fry later and the store gets invoiced there. We have a lot of automated techniques to get those invoices in the system as well, which Kevin will show you in a few minutes here. But the goal here, again, is how much of that day to day accounting process can we automate, whether it's coming from sales and labor, coming out of QSR soft, or coming from our vendors and getting those invoices into the system. That is how we connect to the McDonald's landscape. That's how we speed up that mid month process to actually get your hands on tangible financial reports on a weekly, oftentimes even daily real time basis. So that that kinda concludes what Restaurant three six five does within McDonald's, how we connect with McDonald's. From here, I'm gonna pass things off to Kevin to actually give a demonstration of of what I've been talking about. Thank you. Thanks, Jack. Really appreciate that backstory and context, and and thank you everybody for for joining this webinar either live in person or at a future state when watching it from a recording. Really, our goal here is to give you a clear demonstration of exactly everything that Jack just highlighted, which is the strength of our data flow integrations and automations that are going to allow you to have better insights into your restaurant locations profitability and really power that restaurant profitability and identify areas of opportunity where you can really deploy your time, energy, and effort to get more profit out of those four walls. As Jack mentioned, it really starts with our integration to the point of sale system. So through the connection to the QSR soft data pass environment, we're able to bring over the individual items that are sold. So you can see everything here in terms of egg McMuffins and, you know, sweet iced teas. These are really the level of detail that we're pulling over for each of these items. Everything that's being brought over and coded to its appropriate GL account using the standard chart of accounts for McDonald's. So we set that up as part of your implementation and configuration and make sure that the data is flowing over seamlessly for both the items that are sold and key information around payment types that are being used. So whether that's in store kiosk or online ordering and across the various different payment methods, we're making sure that we capture every single one of those button pushes accurately and mapping them appropriately to their general ledger account so that we can create a balanced daily journal entry. And so we are creating a unique daily sales summary, DSS journal entry per location per day that is going to clearly illustrate where your sales are coming from across the different menu items, pathways, taxes collected, discounts, and comps arranged, as well as the actual payment types that were used. So we're creating a balanced daily sales journal entry on an automated fashion for each location on every day. What the is that you're going to have really advanced sales reporting directly out of the system in terms of comparisons of yesterday's performance to the prior week, prior month, and prior year, a product mix report. And it also means that you're going to have an automated daily journal entry into your general ledger, which will reflect in your financial reports, like your income statement or profit and loss statement, and will also allow you to do advanced bank reconciliations on a regular basis. Because as we'll show shortly, we're connected to your banks in a way that allows us to pull bank activity to review it and match it and reconcile it as necessary to the information we're getting from the point of sale and that QSR soft data pass connection. Now as Jack mentioned, that's not the only thing we're getting from your point of sale or from your QSR soft data pass connection. We're also bringing over your time and attendance information from Harry, LifeLens, or whichever system that you're using for clocking in and out. So we're bringing over the individual employees, job codes, pay rates, and clock ins and clock out times to create a daily labor estimate accrual. Now what this can include is obviously your hourly wages, both regularly, overtime, and any differentials, but it can also include estimates for manager salaries and taxes and benefits. So no matter what your payroll cadence is, whether you're on a semimonthly payroll, biweekly payroll, or weekly payroll, what we're able to do is to pull highly accurate, fully burdened payroll labor estimates into your financial statements and reports on a daily basis, which to Jack's point about shortening that month end closed time period, we're really eliminating the needs for complex payroll accruals that are done manually because we're doing them automatically. Now once payroll is processed, posted, and paid, we bring that payroll information back into the system, compare it to the estimates leading up to it, and give you a full reconciliation so that you can highlight and tweak any estimates for manager salaries, taxes, and benefits, and correct any mismatches between the wage rate of your hourly employees at their time and attendance solution versus your payroll solution. So we're really allowing you to power restaurant profitability by giving you highly accurate insights and visibility into your labor management and labor performance. Now moving along the diagram that Jack showed earlier in terms of our integrations, we've talked about how we pull sales into the system. We just showed you how we pulled labor into the system. Cost of sales is obviously the next major one. And as Jack mentioned, through our major integrations that we have with Martin Brauer, with Coca Cola, with Frankie, and with others, we're able to pull those invoices in automatically, electronically, and at the line item detail for advanced purchase history reporting and to tie those different purchases back to their respective GL codes. So we have an example here of a Martin Brauer invoice that was received electronically, processed at the line item, no action required by you or your operators, and it is being coded appropriately to the right expense accounts so that the GL impact and distribution is showing up in your financial statements as soon as the delivery hits the backdoor. Now like Jack mentioned, some of your vendors may not be integrated. You might have local groundskeeping window washers or repair service vendors that don't have the technical capabilities for those vendor integrations. And in those cases, we give you the ability to process document images with our Capture AI technology. So you can upload an invoice image directly from your desktop. You or your vendors can email an invoice image in as an attachment to a dedicated R3 sixty five email address just for you, or your in store owner operators can take a picture of the invoice with their mobile app. Any way that you upload that document, it's going to show up in the system immediately, and you'll be able to initiate our capture process, which will review the text on the invoice image and lift it up and code it to the appropriate vendor, amount, invoice, due date, and GL coding and distribution with the ability to give instructions on how you want those invoices to be handled moving forward. Now once those invoices are in the system, either via that vendor integration or that Capture AI process, we allow you to route those invoices through AP approval workflows so you can actually make sure that every invoice that your company receives goes to the appropriate individual in your organization for review and approval. That might be the owner operator, that might be your accounting staff, or that might be your in store management staff, giving them the opportunity to confirm that food and goods and services invoices were actually delivered as invoiced and that anything that needs to be... Have a double layer of review because of its magnitude or because of the type of service, like a large repair and maintenance invoice, you can make sure that every single one of those goes to a different individual within your organization. And from an accounting standpoint, managing those invoices, you then have the ability to remind your approvers to log in to their mobile app and approve or deny invoices so that they can be processed for payment. Once those invoices have cleared all necessary approval hurdles, they will be sent and processed for payment. You'll have the ability to print checks directly out of the system or generate ACH files for upload, or you can leverage our r three sixty five payment solution, which allows you to completely outsource payment processing. We can print and mail checks on your behalf and save you the trouble of stuffing envelopes. We can generate ACH direct deposits and set... Coordinate that setup with your bank so you can pay your vendors electronically, and we can pay your vendors with a one time use digital virtual credit card that keeps your account information safe and secure and earns you a cash back rebate. Finally, you also have the ability to have payment run workflows, ensuring that all payments don't go out the door until somebody on your organization who you want to see it has made sure those are completely approved. Now we've talked about the integrations on the accounting and the, or, excuse me, on the sales, the labor, and the accounts payable. The last integration is with your bank that Jack mentioned. So we're going to connect directly with your financial institution, pull all of your bank activity into the system, automatically match and reconcile it against the point of sale entries that we're pulling in and the vendor entries that we're pulling in and payments that we're processing so that your bank activity review becomes one that you can easily do on a daily basis because you're simply reviewing it for any exceptions. So these are any deposits that were not made as planned or any disbursements that were not made as intended. So it gives you that opportunity to keep a finger on the pulse of your business from a financial standpoint and ensure that everything that comes into the bank is accounted for and nothing goes out that's not supposed to. Now with those integrations all tied together, your sales, your labor, your cost of sales, and your integrated bank transactions, What we are going to help you generate is a real time p and l. We're going to be able to pull everything in and integrate it and automate it and link it to its appropriate geo codes as dictated by the McDonald's chart of accounts so that you can see here very clearly that we're able to compare one location to another and very easily identify who my top performers are and where my areas of opportunity to drive restaurant profitability exist. So you can see that we're pulling in your sales and your nonproduct sales as a result of that sales integration and that daily sales journal entry per location that I mentioned as part of that QSR soft and database pass integration. We're also bringing in those food costs through your integrated vendors. So through Martin Brauer, Coca Cola, and Frankie, we're able to populate your food costs and your paper costs automatically and give you that opportunity to realize whether stores that have similar revenues are generating similar cost of sales. Taking it one step further, we're able to pull in the crew labor and the management salary estimates and reconcile that and true that up when... With payroll once it's processed, posted, and paid. And our bank integration ensures that anything that is set up on autopay or flows through your business outside of your typical cash collections and accounts payable disbursements is still captured in your p and l so that you're able to get to a real time visibility of profit after controllables PAC that you can review for performance and that you can easily share with GFFS on the regular monthly cadence to ensure that you're in compliance. And we have preformatted exports and templates that allow you to do so. Finally, as you're reviewing these p and l's and looking for ways to highlight opportunities to improve your business, we're going to give you full drill down capabilities. So if I wanna understand why location one operates at a 23% food cost, while location nine operates at a 22% food cost, I can drill down wherever I see that hand icon and it says click to see details and underlying transactions that go into that amount. So we're actually able to see the invoices that were received, the bank expenses that happened, and we're able to go in and evaluate, are these accurate? And do I need to make any adjustments, or do I feel confident and comfortable about where those charges exist? Now that is just one view of our profit and loss statement that's provided out of the box that allows you to compare locations against one another in our location side by side p and l. We have lots of different ways of reviewing financial statements in the system. We certainly have full balance sheet and statement of cash flow reports as well as associated sales and product mix reports. But even within our income statement or our profit and loss statement, we're able to give you 27 different views of the p and l that are consistent with the way that owner operators analyze and review their business. So we can compare your comp and noncomp units against one another. We can look at a trailing 12 or trailing 24 periods. We can compare your period versus your budget because we're going to allow you to build budgets directly in the system and maintain those budgets for accuracy so that you can ensure that your business is performing not only better than it was last year, better than it last was was last week, but in accordance with your budgetary expectations and making sure that you can build projections out about how you think the business is going to perform from a top line revenue in the coming months, quarters, and years, and what you would expect that flow through to profit to be in terms of managing that cost of sales. So we give you that ability to manage your performance by reviewing things reactively across one another and proactively against a set number of budget and targets. So as Jack mentioned, we've given you the tools that you need to automate the flow of data. We're giving you full p and l's, accounts payable management, sales and labor accruals, and it's really allowing you to understand how your businesses are performing in real time and how they're performing against one another and expectations in terms of budgets. Alright. Well, thank you, Kevin and Jack, for all of that. I am going to start our q and a session. We have three questions here. But while we're doing our q and a, I'm gonna launch a quick poll. Here we go. Alright. It looks like we have three questions here. The first question is, my CPA firm handles my monthly close. Does r $3.65 replace what they do, or do they work inside of it? That's a great question. They'll be working inside of it. So r three sixty five is an accounting platform and an accounting software. We're not going to take the place of your long trusted CPA and accounting firms who can do that financial work for you. So if they're doing that work in another legacy accounting system like QuickBooks, RTI, Dynamics, or one of the other ones out there, this will replace that solution, and we'd be happy to connect and speak to your accountants about the very many ways that r three sixty five can make their lives easier and make your deliverables better. Now that being said, we have a mix of of customers. Some do all of their accounting in house using the automations that r three sixty five provides. Some use their, you know, NFA firms. So... And we have a network of firms who really love r three sixty five that we could connect you with if you're looking for a little bit of extra help. Okay. Perfect. Next question is, does this work with RTI data or do I lose my history? So in terms of financial data coming over from RTI, we will absolutely migrate your legacy data. We always ensure that when we're bringing people onto platform, you have access to historical financial information so that you can run comparative financial statements in our system post go live. Also, allowing you to ensure that you can go live whenever is right for you. We're not going to have to wait for the end of a quarter or the end of the year. If you have a lot of things going on in your business and the right time to change accounting systems is going to be April or May, we do migrations all throughout the year. And every time we do, we ensure we bring over both open and closed year financial and fiscal activity so that you can have highly detailed, highly accurate financial statements that you're comfortable with in r three sixty five, even ones that compare to activity that existed before you made the switch. Okay. And last one is, do you integrate with ADP? We have a preformatted export for ADP and a very easy way to import the payroll journal entries in. So we can be the aggregator for the time punches and pay rate information and provide that in a very clean, easy to use ADP export. And when ADP generates journal entry, we can import that back into the system to compare against our daily labor accruals and estimates. And certainly, we'd be willing to talk to your representative at ADP about how we could make that data flow even more seamless. Okay. Alright. Well, that is the end of q and a. So let's go move on to the next slide. So before we close out, I just wanna give a quick shout out to the r three sixty five transform happening November first through third in Scottsdale. If what we talked about today resonated, there are dedicated sessions on accounting, one on one time with our team, and 400 plus operators to learn from. You can scan the QR code on your screen to learn more. Alright. Thank you so much, Kevin and Jack, for taking your time to share your insights with us today. And to everyone who joined us, thank you. We know how busy things can get, and it means a lot that you chose to spend part of your day with us. That wraps up our webinar. You'll receive an email within the next few days with a link to the recording, which you can watch again or share with your colleagues. Thanks again for being with us today, and we appreciate your time. And we'll see you soon. Thank you. Thanks, everyone. Thanks, everyone.
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