It must be mentioned that Sage does tie Xero in the category because it has its own knowledge base and video tutorial. Our researchers tested every feature and ranked every software platform to bring you the best. Due to their work, the reviews below break down all you’ll need to know before taking the next step and checking for the best deals each software platform offers. We provide different levels of support, depending on the plan and/or the add-on features you choose. Any connections between you, your bank accounts, and Wave are protected by 256-bit SSL encryption.

• It also offers other affordable monthly plans, and some of them come with free trials.
• Additionally, Cloudbeds offers payment processing for reservations, purchases, etc.
• Least expensive plan lacks double-entry accounting reports, bank reconciliation and accountant access.
• It includes financial reporting, table management, sales tax calculation, and mobile device support.
• Some accounting software services integrate with third-party payment processors, while others use their in-house processing services.

Upgrades Included

Restaurant365 starts at $249/month for basic financial management capabilities. The cost of goods sold (as in, what it costs to prepare meals and drinks) is another large monthly expense for restaurants. Other key expenses include software subscriptions, occupancy and marketing.

Do you own or manage a physical restaurant?

Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. By choosing the annual billing, the monthly price equivalent would be $300 per location. Xero’s live support options were more limited, lacking the phone support that FreshBooks restaurant bookkeeping and Zoho offer as well as the live chat option available from Zoho and Sage. 4.4 out of 5 stars based on user reviews collected by G2Crowd as of January 2024. As long as you have an internet connection, you can access QuickBooks anytime, anywhere on your device of choice.

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• Listed below is the cost per quarter, as well as its monthly cost for comparison.
• As part of that, we recommend products and services for their success.
• In addition to core accounting capabilities, it has robust reporting and transaction tracking tools, invoicing capabilities, inventory management features and mobile app functionality.
• You can also check out our full list of the best accounting software for small businesses.
• This way, you get a full picture of your business costs right after you incur them.
• Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you.
• This is a high level of commitment, so make sure Toast’s software (and Toast’s price tag) is right for your restaurant.

FreshBooks stays in sync from your desktop to the app, so you can use any device you like and always have access to the latest data. Take photos and upload receipts right from the store and respond to clients and vendors directly through the app, https://www.bookstime.com/ anywhere you go. QuickBooks can track all of your restaurant locations, including food trucks, in one system. You can track income and expenses for all of your profit centers—simply set up restaurants, catering, or food trucks as its own class.

Small Business

We liked the real-time product information, vendor evaluation reports and demand prediction features as well. With these tools, you can figure out which menu items customers like best and determine how to source their ingredients. Smart financial decision-making is all but a given when you use ZarMoney. While reviewing ZarMoney, we were blown away by how many inventory management features the platform includes. Although ZarMoney is first and foremost an accounting tool, you could feasibly use it purely for inventory management.

Reservation & Staff Management

It's very easy to use and even offers HR features like new employee onboarding, training, and following labor compliance laws. The Premium plan includes hotel revenue management, API access to build custom integrations, and custom payment processing rates to help you lower credit card processing fees. The relatively low inventory and menu management requirements and great price make Square one of the best coffee shop POS systems.

FreshBooks has three main plans (Lite, Plus, and Premium), as well as an Enterprise plan at a custom quote that you’ll have to contact the company to receive. Each plan has a cap on the number of supported clients, with Premium offering an unlimited number. Lite should be a good fit for many businesses, due to an above-average number of features. See your daily sales, food, and labor expenses, cash flow, food write-offs, and other important data at a glance with visual graphs and charts.

ZarMoney: Good for inventory management features

To cancel your OpenTable account, you must provide 30 days’ notice and pay an early termination fee. We also appreciate that OpenTable integrates with most major restaurant POS systems, including Square, Toast, and Lightspeed Restaurant. Employees can view and manage guest reservations from within the POS ordering interface when you integrate OpenTable with a restaurant POS system.

• If you're interested in using payroll software, you can start a free 30-day trial when you sign up for Wave.
• Additional features include tableside ordering, table management, payment processing, staff scheduling and time tracking, customer relationship management, and inventory management.
• If your business has a specific need that your POS system doesn’t offer, try to find software that integrates with your system.
• Gratuity amount suggestions can be added to receipts to make it easier for customers to calculate how much to pay.
• The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation.

What Is The Cost of Goods Sold in a Restaurant?

Zoho Books automates your expense tracking, and we like how seamlessly this organizes your numerous ingredient and inventory purchases. The platform also notifies you as your vendor payment due dates approach, and we like that this minimizes the potential for late payment fees. Plus, you can use Zoho Books to indicate when you’ve remitted the sales tax you’ve collected from your guests.

Paying your bills on time and keeping your vendors and suppliers happy is essential for the efficient functioning of a restaurant. Restaurant accounting is the system of recording, analyzing, and interpreting financial data for a restaurant. Our expert analysis is that Wave is more of a niche pick for restaurants that don’t operate daily—and pop-up restaurants are only open when there are food bazaars or local events. Integrating it with QuickBooks Online will make things more efficient for accounting. With the integration, we gave MarginEdge a perfect mark in accounting features. But standalone, it is just above average since it didn’t have employee scheduling, sales forecasting, and vendor EDI.