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How to Conduct a Successful Restaurant Audit

Modern Restaurant Management

An audit can also be a powerful tool that can help you improve the financial health and profitabilit y of your restaurant. How to Conduct a Successful Restaurant Audit First, take stock of the following areas of your restaurant business: Cleaning and Sanitation It’s difficult to overstate the importance of sanitation for restaurants.

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Don’t Get Burned By The IRS – Tax Tips for Restaurant Owners

Modern Restaurant Management

Restaurants, like other cash-intensive businesses, are a frequently targeted for audits by the IRS. By keeping accurate and complete records, you can reduce the length and pain of an audit. Once you are under audit, you may no longer remember some of the day-to-day details from a particular year, especially if it was six years ago.

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Virtual Acceleration, Raising the Bar and Insult Monitor

Modern Restaurant Management

This edition of MRM News Bites features a double dose from US Foods, SpotOn Transact, DoorDash Kitchens, Virtual Restaurant Consulting, Tripleseat and Gather, wagamama, Toast, The Gluten Intolerance Group, Instawork and StaffMate Online, Procurant and Yellofin, Sift, 7shifts, ParTech, Revel Systems and Como, Kabbage, Bluecrew and Cuboh.

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Ultimate Guide to Payroll Automation for Restaurants

Lavu

These systems manage cash and card tip pooling , calculate tip-out percentages for different roles, and handle tax documentation like the 8027 Tip Income Report. Connecting Payroll with POS Systems In restaurants, where labor costs and tip management rely heavily on sales data, linking payroll systems with POS platforms is a game-changer.

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What Is PCI Compliance for Restaurants?

Lavu

PCI Compliance for Restaurants is essential to protecting customer payment data and preventing costly breaches. With 70% of transactions made via cards, restaurants are prime targets for cyberattacks. Failure to comply with PCI standards can result in fines of up to $100,000 per month, legal complications, and a significant loss of customer trust.

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Food Cost Formula: The Secret to Higher Restaurant Profits

Lavu

The food cost formula is a key metric used in the restaurant industry to determine how much a business spends on ingredients compared to its revenue from food sales. Calculating Food Cost Percentage Basic Food Cost Formula To keep your restaurant profitable, you need to know this formula: (Cost of Goods Sold / Total Food Sales) x 100.

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Essentials of Payroll Accounting for Restaurant Groups, Part 2

Restaurant365

For many restaurants, the weekend provides significantly higher sales levels than a weekday. No matter what laws your restaurant group falls under, it is beneficial to prioritize recordkeeping and audit trails to demonstrate compliance with labor and pay regulations. Understanding payroll regulations.