As any busy restaurateur knows, when it comes to hospitality, automation is everything. The more tasks you can streamline and automate, the more time you’ll have to manage your staff, perfect your menu, or focus on marketing so you can grow your business quicker than ever. That’s why finding the right restaurant accounting software and integrating it seamlessly into your business is so crucial.
Read on as we dive into why you need restaurant accounting software, and how it can be successfully integrated into your business with minimum fuss.
Even the best hospitality business owners don’t always understand how to manage restaurant accounts. That’s why you need restaurant accounting software.
Accounting software helps hospitality business owners to manage their invoices and cash flow, calculate GST, understand their cost of goods sold (COGs), and identify potential savings for their business. It can even help restaurants to price their menus correctly.
But not only that; accounting software for restaurants takes the hassle out of running a busy hospitality business. It ensures that all your invoices, receipts and other records are stored safely and methodically, which means less stress during the dreaded tax time.
There are several restaurant accounting software applications available. However, the best accounting softwares for restaurants are the biggest; XERO and MYOB. This is because they are both super easy to use and have comprehensive support teams available. They also both integrate other software and applications easily, such as your payment portal or supply ordering platform.
XERO’s comprehensive data and analytics dashboard allows you to stay on top of your business by analysing cash flow projections. Use it to pay staff and bills, and connect to over 1000 other third-party applications. It also offers 24/7 support and allows you to cancel at any time.
As Australia’s other major restaurant accounting software application, MYOB offers businesses flexibility and comprehensive support every day of the week. Use MYOB to manage your suppliers and vendors, control cash flow, and pay your employees. The software is compatible with over 300 other third-party applications so you can integrate all your data in the one place.
Running a hospitality business means juggling an endless number of balls, all day every day. Integrating your restaurant accounting software with all the other applications you use makes life a whole lot easier. Plus, it makes it far less likely that your business will drop the ball and miss a tax deadline or be scrambling to make ends meet from month to month when you can’t manage cash flow.
Foodbomb integrates seamlessly with major restaurant accounting software platforms like MYOB and XERO, automatically syncing and itemising invoices. You can track your spending, record your Foodbomb invoices automatically, and have cash ready for the next supply order. This allows you to streamline your order process, track invoices, manage cash flow, and stay on top of your finances all year round.
On the other hand, if you’re ordering from a traditional supplier, you need to painstakingly input all your invoices into your restaurant accounting software yourself. This can take hours of your precious time every month, and each month there is a chance you might miss an invoice or enter details incorrectly. Foodbomb automates this process and reduces the margin for error.
Book an obligation-free call here to start integrating your existing software or simply create an account to start browsing thousands of products. Our in-house team of industry-trained experts can assist you if you need help integrating your accounting software with Foodbomb.
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