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Restaurant Cash Flow Management 101: Building Good Financial Habits

ChowNow

Whether you’re a roadside fruit stand or a Michelin star restaurant, cash flow management is crucial. And there’s more to restaurant cash management than simply bringing in more money to cover expenses. What is Cash Flow? Cash flow is the net amount of money moving in and out of your restaurant.

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How to Manage Cash Flow During Restaurant Restrictions

Restaurant365

Tracking and understanding your restaurant’s cash flow is essential, whether business is booming, or times are tough. A healthy, positive cash flow is necessary to pay your bills and grow sales. Monitoring your cash flow is more important than ever during the COVID-19 outbreak. How to calculate restaurant cash flow.

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Guest Blog: It’s Time to Bring Your Alcohol Management into the 21st Century

Restaurant365

From cloud-based POS systems to mobile apps designed to improve employee satisfaction and streamline scheduling, technology is bettering business and changing the landscape of restaurant management. So why is it that alcohol management is lagging? The problem with outdated alcohol management.

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Seven Traits of Successful Restaurant Owners and Managers

7 Shifts

This process includes focusing on your daily finances , such as cash flow, payroll, and inventory. Invest in Technology Accounting and inventory management software are just a couple of the technologies that small business owners should invest in. There are email marketing campaigns, SMS or text messaging, social media, and blog posts.

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Restaurant Bookkeeping: A Comprehensive Guide for Managers

Sling

Use reliable software Regardless of whether you hire a full – or part-time accountant to manage the operation’s finances, it’s important to use reliable restaurant accounting software to keep track of your income and expenses. This will show you what percentage of your total sales go into purchasing food and paying your staff.

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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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TWENTY COMMON MISTAKES INDEPENDENT RESTAURATEURS MAKE

Culinary Cues

Every business requires controls in pricing, consistency, quality, and cash handling. All of the tools are available for inventory control, purchasing systems, cash handling, costing templates, and quality assessment. Social media is very inexpensive, but someone needs to effectively manage it every day and every way.