AI Accounting Solutions Turbocharge Quick Service Restaurant Growth
Hеy thеrе, foodprеnеurs! Arе you rеady to sеrvе up somе dеlicious succеss for your quick sеrvicе rеstaurant (QSR)? Wеll, you’rе in for a trеat bеcausе wе’vе got a sеcrеt ingrеdiеnt to rеvolutionizе your rеstaurant accounting – AI-powеrеd automation. Say goodbye to thе days of sifting through mounds of papеrwork and hеllo to a fastеr, smartеr, […]
Franchise Owners Guide to AI in Back-Office Accounting
In today’s rapidly evolving technological landscape, advancements in AI are transforming various industries. What was once considered expensive and exclusive to large corporations is now becoming more accessible to small businesses, including retail managers, small business owners, and franchise owners. One area where AI has made significant progress is in back-office and financial accounting operations. […]
How to Improve Accounting Procedures
and Save Time
Accounting is a field of repetition with very few one-time events. Many accounting tasks should be completed on a daily or monthly basis. Some only require quarterly or annual attention but are nevertheless repetitive. Because so many redundant back-office accounting tasks are traditionally manual and time-consuming, it is important to evaluate your internal processes to […]
Benefits of AI-Based Bookkeeping for Small Business Owners
As small business owners know, time is limited and the work is plentiful. Fast-decision making is essential and access to key financial data from any time, anywhere is crucial. What if your financials were up-to-date, on-demand, and accessible from your phone? AI bookkeeping software does just that. How Does AI-Based Bookkeeping Benefit Small Business Owners? […]
What is Credit Card Reconciliation in Accounting
Company credit cards are now arguably the most popular way to pay for business expenses. Whether it’s a casual lunch or a business trip – most companies use credit cards as the preferred method of payment. As such, credit card reconciliation is becoming increasingly important for businesses across all industries. Credit card reconciliation compares transactions […]
Revenue Accounting – How to Increase Revenue for Multi-Location Businesses
Running a successful business can be a challenging undertaking for even the most experienced professionals. Managing revenues, recruiting talented staff, and creating sustainable growth are just a few of the common obstacles faced by business owners. Operating a business with multiple locations compounds each of these challenges. Whether you’re a street vendor selling hot dogs […]
Revenue Accounting – How to Understand your POS Revenue Report
All companies have to generate revenue in order to be successful. Whether you’re a hotel, a restaurant, or a clothing store – revenue is the fuel that keeps a business moving forward. However, tracking revenue isn’t as simple as it used to be. Once upon a time, companies could simply make a sale, collect cash, […]
What is Revenue Accounting and Why is it Important?
Earning cash and generating revenue is a fundamental aspect of doing business. Regardless of whether you’re selling hot dogs, clothing, or running a large hotel franchise – every company’s success depends on revenue. However, in the accounting world recognizing revenue can be a bit more complicated. You would think that a business simply has to […]
What are the Basics of Franchise Accounting?
As we previously discussed, franchising is a hybrid model that combines small business ownership with corporate oversight. The franchisor is an established entrepreneur with an established, licensed business model. The franchisee is a person or corporation that operates their individual business using the model obtained from the franchisor while having access to proprietary and trademark […]
What is Franchise Accounting?
Franchises exist all around us, but you might not be aware of it. Whether you’re grabbing a sandwich at Subway, dropping off a package at UPS, or staying at your neighborhood Best Western – each of these businesses are franchises. A franchise includes a legally binding agreement that allows business owners to gain access to […]
Multi-Location Accounting: Best Practices for Running Multiple Franchise Businesses
Successfully growing a franchise business is a team effort. Growth also leads to complexity, especially with your accounting. If you own multiple franchise locations, or want to grow from one location to many, this article is for you. We’ll discuss best practices for multi-entity accounting for franchise businesses. Start with a Centralized Database A centralized […]
The KPIs You Need to Be Tracking in Quick-Service Restaurants (QSRs)
Are you a quick-service restaurant (QSR) owner or operator? If so, understanding the financials of your business is essential to success, but it’s not the only metric you should be tracking. The KPIs you choose to measure can have a major impact on your ability to make informed decisions and adjust your strategies in order […]
