Capitalize on a Value-Driven Approach to Restaurant Accounting

Consumers are flooding into restaurants more than pre-COVID rates. This momentum is exactly what you want to see if you have restaurant clients at your firm. But it’s not all roses for the industry (SPOILER ALERT: It never will be).

Not all restaurants are feeling the reopening momentum. There’s ongoing labor struggles that seem likely to persist even if/when extended benefits are cut. And there’s inflation sweeping across the nation, particularly impacting restaurant suppliers.

Our webinar, hosted by Insightful Accountant, dives into this reality and examines how you can strengthen your restaurant relationships, maximizing profitability for you and them along the way. Watch it now, continue reading below for more about xtraCHEF, and reach out for a demo to see it in action.

What does all this mean to you?

Accountants, bookkeepers, and other financial advisors are heroes coming out of 2020. Restaurants flocked to you for help with PPP, EDC, RRF grants, and more.

Now you’re positioned to build a lasting foundation on top of those services. Restaurants need more operational transparency, controlled chaos, intentionality, and time back in the day.

Deliver on all those needs with the right restaurant accounting systems and processes — all while ensuring your profitability and theirs through increased efficiencies.

Here’s where to start with “the right” restaurant accounting platform

xtraCHEF by Toast provides the systems and enables the processes you need to optimize your restaurant accounting.

Our suite of restaurant operational and financial tools can help you transform your approach and become a trusted advisor for your restaurants:

• Increase the frequency and value of touch points by relaying reports and insights
• Provide alerts and callouts on critical metrics that are impacting food costs
• Drill down to monitor profitability at the individual recipe level

It starts with invoice processing and AP automation. xtraCHEF takes static invoices (either via image capture on our app, scanned uploads, or an EDI feed) and turns it into usable data that flows into the GL as well as tools across our platform.

The benefits are that you and your clients are working with clean data that’s updated with every new invoice. If chicken prices increase 10% from one week to the next, recipes with chicken in them will see their cost increase and margin shrink.

AP automation frees labor (either yours or theirs) from invoice gathering across locations, manual data entry, and more — all while reducing human error from the process.

Schedule a demo to see the full xtraCHEF capabilities

Restaurant accountants can seize this confluence of consumer momentum and industry struggles to strengthen existing restaurant relationships and win more.

Leverage our restaurant AP automation software and the rest of our tools to monitor and tweak your profitability and theirs.

Let’s schedule a demo to explore what exactly the rest of our tools are and how they can help you cook up sticky partnerships with a value-driven approach to your restaurant accounting.