Discover The Top 16 Restaurant Bookkeeping Services

When it comes to running a restaurant business, one crucial aspect that I cannot overlook is proper bookkeeping.

Restaurant bookkeeping not only helps me to track my income and expenses but also provides valuable financial information that influences decision-making.

But with numerous software platforms available in the market, how do I choose the best one? This article aims to ease my task by bringing together 16 leading restaurant bookkeeping services that cater to my unique needs.

All of the restaurant bookkeeping services listed here provide tailored features specifically designed for the food service industry.

Each solution facilitates easy tracking of sales and expenses, payroll handling, tax compilation, plus inventory management – all in real time!

Efficient utilization of these tools can lead to better cost control, enhanced profit margins, and top-notch fiscal health of my restaurant.

The 16 Best Restaurant Bookkeeping Services

In my journey to streamline the finances of numerous restaurants, I discovered some incredible bookkeeping services.

These services aim at easing out financial management while boosting efficiency and profitability. Here are the best 16 restaurant bookkeeping services that I can vouch for.

1. QuickBooks Online

QuickBooks Online is often recommended due to its comprehensiveness and sheer number of features it offers for restaurant owners.

Five features provided by QuickBooks Online:

• An easily navigable dashboard, displaying essential financial information.
• Expense tracking to monitor where your money goes.
• Invoice creation and management that saves considerable time.
• Payroll support ensures timely payments to employees.
• Integration capabilities with third-party applications like payment gateways or inventory systems.

Advantages of QuickBooks Online:

• Comprehensive reporting metrics provide insights into your business’s financial health.
• Cloud-based software enables you to access data anytime from anywhere.
• High customization options align with any specific needs you might have.

Drawbacks of QuickBooks Online include:

• A slightly steep learning curve for those new to bookkeeping software.
• Can be on the pricey side compared to other platforms in the market.
• Sometimes slower response times from customer service.

Costing: Quickbook’s cost varies based on plan selection but ranges between $25 and $150 per month.

2. Restaurant365

Following closely is Restaurant365, a cloud-based, all-in-one restaurant management solution explicitly designed for eateries.

Top five features offered by Restaurant365:

• Automates invoicing and accounts payable,
• Generates real-time profit and loss statements,
• Liquor control functionality restricts the chances of theft,
• Integrates with POS systems, vendors, and banks seamlessly,
• Inventory management manages stock efficiently,

Pros of using Restaurant365 include:

• Simple and user-friendly interface,
• Unifies all restaurant operations into one place,
• Diverse reporting tools help in decision-making,

The cons of Restaurant365 are:

• Custom reports are a bit challenging to generate.
• Initial software setup can be time-consuming.
• Customer support has occasional delays.

Costing: Restaurant365 offers quote-based pricing, ensuring you get a plan customized to your needs.

Also Read: Find 14 Best Car Shipping Companies for Safe Delivery

3. Xendoo

Xendoo is an online bookkeeping service catering to varied businesses, including restaurants.

Five distinctive features are offered:

• Online bookkeeping for maintaining daily transactions,
• Tax preparation and filing takes care of end-of-the-year duties,
• A dedicated accountant gives access to expert suggestions.
• Real-time financials keep you updated at all times.
• Business consultation support adds extra value to the service,

Pros of using Xendoo include:

• One flat monthly fee without any hidden charges
• Quick response time with a reply within one business day.
• Scalability as per your growing needs.

While the cons of choosing Xendoo are:

• They do not offer payroll services directly but through third-party providers.
• Pricing may seem a little high for small eateries or cafes.
• A limited number of transactions in basic plans.

Costing: Prices start at $195 per month for their most basic plan.

4. Plate IQ

Plate IQ stands as one of the best restaurant bookkeeping services. It works like magic for restaurants, convenience stores, and many other businesses.

Features:

• Automated Accounts Payable: Say goodbye to manual data entry with this feature that automatically captures every line item from your invoices.
• Invoice Processing: Keep track of all bills and have them ready for payments.
• Inventory Management: Know what is in stock and when to reorder with just a glance.
• Menu Engineering: This helps in pricing your food cost accurately.
• Detailed Reports: Get insight into exactly how money is being spent.

Pros:

• Saves time by eliminating the need for manual invoicing checks
• Streamlines internal workflow processes
• Provides detailed, transparent reporting

Cons:

• Might be complex for first-time users
• The user interface takes some getting used to
• High costs incurred for additional services

As far as pricing goes Plate IQ, offers a quote-based plan meaning each customer gets tailored pricing according to their specific needs.

5. TouchBistro Inc.

TouchBistro Inc., designed exclusively for the restaurant industry, promises incredible benefits like lower operational costs, increased profitability, and improved guest experience.

Features:

• Table Management: Manage your tables seamlessly while satisfying patrons’ seating preferences.
• Order Tracking: Track detailed ultimate order status(update or change) ongoing features once an order is placed.
• Payment Processing and Reporting: No more payment hassles or long counts after a busy day’s trade!
• Menu Planning: Modify menus quickly either individually or globally across multiple venues if required.
• Staff Scheduling and Management: Easily manage staff hours ensuring everyone gets adequate shifts without overexerting them.

Pros:

• User-friendly interface
• Comprehensive functionality specific to restaurants
• Access from multiple devices

Cons:

• Slightly expensive in comparison to similar restaurant bookkeeping services
• Limited integrations with other software
• Customer service could be improved.

Pricing for TouchBistro comes in different tiers depending on specific business needs, you can request a quote directly from the company.

6. Zoho Accounting

Zoho Accounting, another excellent choice among restaurant bookkeeping services, provides a suite of applications designed to run businesses smoothly

Features:

• Paperless Receipts: It digitizes your receipts and keeps you clutter-free.
• Invoice Template Customization: Flexibility to set up and customize invoice templates.
• Time Tracker: Keeps track of billable hours.
• Expense Tracking: Allows the tracking of expenses category which helps predict future costs efficiently.
• Inventory Management: Maintain optimal levels reducing shortages..

Pros:

• Easy to use and intuitive platform.
• Good integration with other platforms e.g. Google Apps.
• Affordable pricing starts as low as $9 per month!

Cons:

• E-commerce transactions could be easier to manage
• Reporting features are not as advanced compared to some other options on this list
• Limited customizing capabilities on invoices.

On pricing matters; Zoho is quite accommodating. Can start at a $9 basic monthly plan while premium plans go for around $29 per month!

Also Read: Top 25 Electronic Logging Devices (ELDs) For Truckers

7. Bistro Accounting

Bistro Accounting steps forward as one of the reliable services for managing restaurant finances.

Features:

• It provides an easy-to-understand and use interface.
• The system offers detailed financial reporting.
• There is a specialized payroll processing system that eases staff payment procedures.
• Features a built-in inventory management tool.
• It’s accompanied by a friendly customer support team ready to solve your queries.

Pros:

• Bistro Accounting has timely updates making it stay abreast with recent technology trends.
• It’s customizable which allows you to tweak features based on personal preferences.
• The inbuilt inventory tool makes it easy to adjust and track stock quantities.

Cons:

• Some of its impressive features like staff scheduling are available only on top-tier pricing plans.
• As per some user reviews, the initial setup can be complex for newcomers to bookkeeping.
• Requires regular maintenance for optimal performance.

Cost: Bistro accounting services come at different cost levels depending on business size and requirements, beginning from basic plans suitable for small restaurants starting at approximately $100 per month.

8. MarginEdge

The magic key behind the restaurant success story could rest in MarginEdge‘s impressive array of features which make bookkeeping simpler than ever before.

Features:

• MarginEdge boasts of automatic bill processing where invoices are directly uploaded into the system eliminating manual records.
• Invoice line items can be digitally captured using their mobile app thus, reducing margin errors.
• The software presents an easily accessible daily P&L (profit & loss) report providing insight about business health.
• One-button syncing with existing POS (Point Of Sale) systems is possible, enabling streamlined data flow.
• Kitchen recipes can be costed automatically based on updated ingredient prices in the system.

Pros:

• MarginEdge appeals due to its user-friendly platform making navigation simple even for non-tech-savvy people.
• The software allows for faster and accurate data entry saving time and preventing errors.
• Provides an insightful summary of your business’ daily financial status.

Cons:

• Some users report that they faced difficulties while integrating the software with their current systems.
• The cost of their bookkeeping services might be higher compared to others in the market.
• Limited customizability options can be a downside for some.

Cost: The cost for MarginEdge ranges based on individual restaurant size and needs, but it typically starts at around $199 per month.

9. Wave

Wave is another sought-after name when it comes to impeccable restaurant bookkeeping services.

Features:

• Features automatic billing allowing businesses to have more control over their cash flow.
• It includes payroll functionalities accommodating both salaried workers and hourly workers.
• Users can generate unlimited invoices with custom designs tailored to match restaurant branding, promoting a professional image.
• Easy credit card processing directly from the dashboard, enabling smooth transactions for customers.
• Financial data can sync across all devices promoting consistency.

Pros:

• One word I often note in users’ reviews is ‘simple,’ i.e., Wave is well-designed making it easy even for newcomers.
• There are no upfront costs or hidden charges involved in Wave’s free software plan.
• You’ll receive reminders whenever you have due dates approaching avoiding late penalty fees.

Cons:

• Wave lacks some advanced features found in other accounting solutions like inventory tracking or time tracking capabilities – which could be needed as your business scales up!
• Their customer service response times might sometimes slow down during busy periods.
• Frequent adverts pop up when using the free version which can disturb workflow.

Cost: Remarkably, Wave offers its main suite of accounting software components free of charge! But additional services like payment processing or payroll support do carry separate charges depending on usage.

10. Sage

I also find Sage bookkeeping service extremely useful with its robust features:

Features:

• Sage provides inventory tracking which helps in managing stock effectively.
• Detailed financial reporting enhances the decision-making process by providing insightful data
• Ease of use functionality; even those not familiar with bookkeeping systems can navigate easily through it
• Automated calculations reduce manual work and chances of errors
• Secure cloud storage ensures your financial data remains safe

Pros:

• Sage ensures time-saving operations with automated calculations;
• The easy-to-use platform keeps operations running smoothly even for non-accounting personnel;
• Secure cloud storage protects vital information from loss due to system crashes or breaches;

Cons:

• On the downside; advanced features may be overwhelming initially, especially for new users;
• Learning how some components operate may come with a learning curve;
• For small restaurants, the cost may seem quite steep.

The emphasis on product pricing depends on the package you opt to choose, ensuring you only pay for what you require.

Also Read: Top 14 Trucking Accounting Software Picks For 2024!

11. SLC Bookkeeping

SLC Bookkeeping is another notable mention and here’s why:

Features:

• Customizable bookkeeping services based on the needs of your restaurant
• Offers useful financial advice based on reports generated.
• Accurate payroll system for seamless payment operation
• Year-round tax support helps to ensure compliance with laws
• Easily accessible due to its online platform

Pros:

• Customizable services mean that I can tailor it according to my needs;
• On-demand financial advice aids in better finance management;
• Having year-round tax support ensures that I am always compliant;

Cons:

• One may require some basic knowledge of finance practices due to the complex terminologies used;
• The service might be expensive, especially for smaller operations.
• Fewer automation features mean some work will still need manual intervention.

SLC Bookkeeping charges by hourly rate which can save me money compared to fixed plans if my use is minimal.

12. ZipBooks

ZipBooks is one of the better restaurant bookkeeping services I’ve stumbled upon. This software gives us insight into our restaurant financials quickly and easily.

Features:

• A user-friendly interface that doesn’t require a financial degree.
• Efficient invoicing system to help manage cash flow better.
• The ability to connect with the bank directly for real-time updates.
• Accurate expense tracking feature to keep a tab on where money is being spent.
• Timely reports to stay on top of the finances.

Pros:

• The system is cloud-based so you can access it from anywhere at any time.
• They offer customer support through live chat or email, which I found convenient.
• Comes with an affordable pricing option that won’t break your budget.

Cons:

• Some features are not available in the basic plan such as time tracking and project management tools, which might be needed by some restaurants.
• Can suffer from occasional glitches or bugs.
• It could be a bit complex for those who are not good with technology.

Costing: The basic version is free but if you want added functionalities, then there are premium plans starting at $15 per month.

13. DAVO

DAVO was built keeping restaurants in mind and provides several key features that help simplify bookkeeping tasks specifically within this industry.

Features:

• Automated sales tax management making sure no deadlines are missed
• Daily sales data integration with POS systems
• Safe & secure vault for your money
• Accessibility from multiple devices using cloud-based technology
• Real-time reporting for improved decision-making

Pros:

• Easy integration capability with most POS systems used in restaurants
• Protects business from potential penalties due to missed tax payments
• Gives a clear picture of daily sales

Cons:

• The software is more focused on sales tax, so it won’t help with other aspects of bookkeeping
• Lacks features such as inventory and payroll management.
• Some reviews mention issues with customer service response times
• Costing: Pricing starts at $39.99 per month.

14. Food Service Ace

Food Service Ace is another solid choice for restaurant owners looking to simplify their bookkeeping process.

Features:

• Tracks inventory costs
• Assists in meal planning and costing
• Functions related to catering and delivery services
• Employee time clock tracking
• Handles purchase order creation and management

Pros:

• A comprehensive system that handles not just financials but also other aspects of running a restaurant
• Allows for menu engineering, making it an integral part of the business strategy
• It’s built specifically for the food service industry, enhancing its effectiveness.

Cons:

• Its interface could be too complex for those looking out for simplicity.
• Can be perceived as expensive by some restaurants operating on a tight budget
• User reviews point out occasional system bugs.

Costing: They offer custom pricing based on the needs of your restaurant.

Also Read: Safeguard With Physical Damage Insurance Coverage

15. Bookkeeper360

With Bookkeeper360, managing our financial transactions becomes smooth sailing.

Features:

• Integration with popular digital platforms like Xero and QuickBooks
• Access to human accountants through chat or call
• Payroll processing capabilities
• Detailed performance dashboard to monitor the health of your business in real-time
• Regular reporting to facilitate informed decision-making

Pros:

• Comprehensive customer support that you can rely upon
• A holistic solution that goes beyond basic accounting tasks
• Specially designed services for restaurants regardless of size or type

Cons:

• More expensive compared to other options
• A more steep learning curve as it has tons of features
• It does not have a mobile app

Costing: Pricing starts at $399 per month, but they offer a free consultation to give you an idea of what you’ll be getting.

16. Reconciled

Last on my list, but certainly not least impactful, Reconciled is a robust bookkeeping service perfect for all sorts of food-service businesses including restaurants.

Features:

• Integration capability with popular accounting software
• Access to dedicated bookkeepers
• Manages bill payments and invoicing
• Payroll reconciliation
• Provides regular financial reporting

Pros:

• Saves time by handling tedious tasks such as payroll reconciliation
• Access to experienced professionals in the field
• Customized services to match specifically your restaurant’s needs

Cons:

• Could be too pricey for small restaurant owners
• Requires a minimum financial commitment.
• Your access to certain features depends upon the package you choose.

Costing: The packages start from $299 per month with different options depending on your business requirements.

FAQs

Also Read: Car Hauler Insurance: Secure Your Transport

Conclusion

In my journey with restaurant bookkeeping services, I’ve seen many food service businesses enjoy significant benefits when they pick the right tool. Their choice took into account factors such as integration with other systems, ease of use, reporting accuracy, and good support services.p

QuickBooks Online or Zoho Accounting might be just right for a small establishment while Reconciled offers more comprehensive solutions suitable for bigger enterprises.

The truth is every business is unique in its needs and limitations. Hence, there’s no ‘one-size-fits-all’ solution when it comes to restaurant bookkeeping services. It’s about finding that perfect match that can cater precisely to your bookkeeping needs.