Accounting Software For Restaurant & Fast Food Business – See Why QuickBooks Is The Best Software For Managing Small, Bar, Big Restaurant & Fast Food Business
I recently had a conversation with a client who was expanding his business and wanted to know if QuickBooks can still accommodate his new restaurant business without a hitch. As we began the chat on phone in the early hours of today, he pointed out key areas of the business he wouldn’t want to be left out and here are the key requests in his word:
- I want to send invoice from QuickBooks to my corporate customers
- I’d like to track all inventory purchases; food items – down to the unit of measures For instance, if I buy a bag of rice, I don’t want to write it off as a one-off expense but monitor the usage in Kgs and know what my inventory balances are on a real time.
- I also want to see how much I have spent on the business and compare that with the prior month, year’s expenses.
- I want to incorporate my bank transactions too so that the system can help me reconcile differences.
- I have over 50 + customers whom I supply food in packs every day – I really want to know how much I made in sales, who paid me and customers’ owning me money so I can follow up; sometimes, I forget that a particular customer is yet to pay which is bad for my business.
- I don’t even know what my actual profit or loss level is right now as all daily transactions are entered on a paper and I think my food business has outgrown that level.
Then, he went to conclude by asking, can QuickBooks do all these?
Request For Our Accounting Software ServiceFor over 5 years, I have implemented QuickBooks for more than 152 companies under Retail, Manufacturing, Oil & Gas, Real Estate & Construction, Travels, Hospitality, Corperatives, NGOs, Financial & Service Sectors.
- Mbaire Services Nigeria Ltd(Construction)
- Landmark Centre (Event Centre)
- Mountain Ice Travel & Tour (Travels)
- BTS System (Service)
- Logos Travel Support & Solutions Ltd (Travels)
- Germaine Auto Centre (Autos)
- BD Consult (PR)
- Starlight Nigeria (Retail)
- Temple Private School (Education)
- C. Charles Resources Limited (IT consulting)
- Adeniyi Coker Consultants Limited (Real estate and construction)
- The Nigerian Economic Summit Group (NGO)
- Value Mart Supermarket (Retail)
- Transweb Bureau De Change (Financial Service)
- Wakanow Travels (Travels)
- Vektro Food Limited (Manufacturing & Retails)
- Orient Petroleum PLC (Oil & Gas)
- Plus More
If I want to quickly respond and still leave him in the dark, I would probably say “YES” but that’s not all he wanted to know or hear from me. I had to take my time to address each of the challenges shared and explain the different features built to make all the request possible and seamless in QuickBooks. Lest I forget, the version I recommended for this line of business was QuickBooks Premier because of the numerous unit of measures; my client was interested in tracking all foods stuff, actual quantity purchases, usages and balance on hand to monitor unusual activities among his staff.
QuickBooks is very flexible and can adapt to any kind of business if you understand all the features as a consultant. The “invoice and sales” window lets you record credit and cash sales respectively while “purchases order, receive inventory and pay bill” are workflows that track the processes involved in refilling your store with food supplies up till the final payment on actual goods received.
I am sure what’s of great concern to you is how I customised the software to also track the food sales in a pack to individuals or corporate customers? With QuickBooks assembly under the “inventory section”, I showed my client how to add new stock whenever they have fresh food in the store.
For expenses incurred, payments sent to service renderers and other relevant payables you need to track before you can accurately view all cumulative business expenses, QuickBooks has a “write a cheque and enter bill” designed to help you enter details of transactions, including amount, date and descriptions.
The banking window mimics you actual bank transactions as it also monitors cheque issued, deposit, transfers, charges with a reconcile window available for end of the month reconciliations.
For management report, you can explore the company’s snapshot, a very interactive reporting feature that tells you how your business is doing in less than ten (10) minutes by showing all account heads and their balances, customers who owe you money, top selling products, income and expense trend for a specified period and expense breakdown for quick decision making.
While these are some of the features available for food and restaurant business owners, I also understand that there might be specific challenges in your food business you might be interested in addressing, why not send a mail to email@example.com or call 08105090001 so that we share help improve your accounting system.