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10 Cash Flow Management Best Practices for Restaurants

Lavu

No matter the size of your restaurant, one truth remains: cash flow is king. Restaurant cash flow management is the lifeblood of your business. Yet, while most small business owners know this truth, many still struggle with basic cash flow definitions, fundamentals, and management strategies that actually maximize benefits.

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Restaurant Bookkeeping: Comprehensive Guide to Master Bookkeeping

7 Shifts

Table of Contents 5 easy steps to simplify bookkeeping in the restaurant industry Essential accounting and bookkeeping reports for restaurant owners and managers Identifying and reducing controllable costs in the restaurant business Should I outsource restaurant bookkeeping or do it myself? Even those new to bookkeeping can use it!

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COVID-19 Best Practices for Restaurants: Navigating Coronavirus for Staff & Managers

7 Shifts

How restaurant managers can navigate COVID-19. Employees do not require a doctor’s note. Employees no longer require a doctor’s note. Communicate with staff and managers. Monitor 7shifts Announcements from management for updates on the situation. Accept all sick requests. Put up posters about proper hygiene.

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Restaurant Budgeting: How to Create A Restaurant Budget

7 Shifts

Managing a restaurant is not for the faint-hearted. However, as a rule, the primary costs you can expect in running your restaurant are usually related to food, labor, and rent. A restaurant budget allows restaurant owners and managers to see directly if they are meeting their income and expense benchmarks.

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New Restaurant Payroll Tactics and Tools For Building a Talented, Loyal Staff

7 Shifts

Enter 7shifts , a scheduling and team management app that simplifies the payday processes that typically run restaurateurs ragged. Typical Employee Payout Methods. How Outdated Pay Cycles Negatively Affect Employees. Any owner or manager running payroll manually understands the complexity faced each pay period.

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Mitigating Cost Price Inflation Via Supplier Management

Hot Schedules

Mitigating Cost Price Inflation Via Supplier Management. Not only does this deliver greater control, but negotiated rates also help avoid the inevitably higher costs that come from buying with petty cash. Smart operators take purchasing management further by using electronic trading platforms. Related Posts.

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[Guide] How to Implement Digital Tip Payouts at your Restaurant

7 Shifts

Restaurants without team management tools may miss out on top talent, like those who value tech: Gen Z. Make sure to consider these key factors from both the administrative and employee perspective: Pricing: Consider whether the platform charges a flat fee (monthly or annual), a percentage of tips, or a combination of both.