Remove Audits Remove Cash Management Remove Reference
article thumbnail

Franchise Compliance Guide: Laws + Agreements

7 Shifts

Put simply, franchise compliance refers to the actions that corporations, their franchisors, and their franchisees take in order to stay compliant with any applicable federal, state, and/or regional laws. Proper Team and Labor Management Tools. Location Audits. How to Make Sure All Franchise Locations Are Compliant.

Franchise 370
article thumbnail

Beginner’s Guide to Accounts Payable for Restaurants

ChowNow

Managing accounts payable (AP) for restaurants efficiently is vital to running a successful restaurant. From keeping up with invoices to negotiating better payment terms with suppliers, these steps can ensure smoother operations, improved cash flow, and stronger relationships with your vendors. Automation can be a game changer here.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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?

article thumbnail

Ultimate Guide To Restaurant Cost Of Goods Sold (COGS) in 2024

7 Shifts

COGS can be expressed as a percentage of your sales, often referred to as the COGS ratio. Labor While COGS typically refers to the cost of food, beverage costs, and other ingredients, labor also plays a crucial role in determining the overall cost of preparing and serving meals. For instance, if your restaurant spends $0.50

2024 195
article thumbnail

Face Pay Network, Restaurant of the Future and The Main Course

Modern Restaurant Management

Modern Restaurat Management (MRM) magazine is collaborating with the team at MarketScale on The Main Course , a podcast that aims to explore the intense and competitive modern restaurant industry. "We Barbara Castiglia , MODERATOR – Modern Restaurant Management. They both went through a management training program.

article thumbnail

Who has the worst staff turnover? Restaurant Employee Turnover by City and State + Retention Playbook

7 Shifts

What about managers? Track and manage employee workload. What about managers? Managers fared a bit better than hourly employees—with a turnover rate of 28%. Among the over 25 sets, manager recognition (or lack thereof) was one of the top three reasons they left restaurant jobs. Back-of-House and Front-of-House.

article thumbnail

Restaurant Taxes: Top 12 Tax Deductions and Tips For Restaurants

Harbor Touch

If you are audited, and the IRS believes you are overcompensating employees based on other amounts reported within the restaurant industry, you may not be able to deduct them fully. Seems like a no-brainer but maintaining solid files, both physical and electronic, are critical to managing your restaurant. Compensation and Taxes.