Despite the glamorous portrayals of Chocolat, The Restaurant and Big Night, running a restaurant requires a tremendous amount of hard work, discipline and long hours. Most people who get into the biz consider food and people the seasoning that makes the hard work worth it. Book-balancing is more like the hairnet of the industry — a necessary annoyance.
Commerce Sync’s restaurateurs make up some of our most satisfied and loyal customers. In an effort to find out why, we asked them what their favorite Commerce Sync features are. Here’s what we found out:
Cash flow: Cash flow management is critical to the ongoing operations of a F&B business — get it wrong and you’re unable to purchase ingredients and pay employees. Commerce Sync properly separates receipts by actual revenue vs. tips and sales tax amounts from your point-of-sale (POS)-based orders. This helps F&B owners and accountants easily reconcile receipts and bank deposits to ensure that they understand what their cash position is, every single day.
Sales tax reporting: Sales tax is complex — easy to overpay and punitive to ignore. With a little research and perhaps an accountant to help properly configure sales taxes in your accounting system, Commerce Sync positions F&B owners to understand the amounts and to whom sales tax is owed.
Category impact: Commerce Sync easily transfers daily revenue amounts by the POS categories F&B owners configure to represent their business. Then, owners can understand from where their revenue is coming and align revenues to expense data they’ve logged in their accounting system. This helps F&B owners understand how their profits are impacted by different areas of their restaurant (entrees, alcohol, etc.), daily.
With Commerce Sync, each day’s sales totals are automatically transferred into Quickbooks or Xero accounting software. “Yesterday’s sales totals” include the daily totals for sales, sales tax, tips, discounts and refunds. Automating the sales transfer process saves F&B owners time, reduces bookkeeping expenses and improves accuracy.
As Seth R., owner of Rise & Shine Biscuit Kitchen and Café in Denver, puts it: “My time is valuable and the hours I’m saving each week by not having to manually enter data from a spreadsheet lets me focus my attention on growing the business.”