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Restaurant365 is a restaurant booking service that promises to be cheaper, more convenient and faster than waiting on the phone with your favorite restaurant. If only all of their claims were true because the price they charge can vary so much depending on who you ask for an accurate quote.
Restaurant365 is a restaurant review and pricing website that was founded in 2001. The company has been around for over 15 years. It provides reviews, menus, and prices for restaurants all over the United States. Restaurant365 also offers coupons to use on their website. Read more in detail here: restaurant365 employee login.
Restaurant365 is a powerful accounting and operations software-as-a-service (SaaS) platform for restaurants. Point-of-sale (POS), inventory, payroll, and suppliers are all integrated.
It’s the only fully linked cloud-based system created exclusively for restaurants with numerous locations, and it can be grown to suit your expanding demands since it’s built on the Microsoft Dynamics platform. Restaurant365 costs $948 every quarter. There is no option for monthly billing.
Restaurant365 is a website dedicated to restaurants.
Restaurant365’s Recommendations
Restaurant365 is an all-in-one restaurant management solution. It’s a single piece of software that includes accounting, inventory, scheduling, management logbooks, and sales reporting. It also works in tandem with your POS system.
All of these linkages are beneficial since they free up your employees’ time by eliminating repetitive processes, improving accuracy, and providing a holistic perspective of your business. Because of its mix of restaurant-specific features and bookkeeping skills, we chose Restaurant365 as our best overall restaurant accounting software.
Restaurant365 Is Particularly Beneficial For
- Restaurants having many locations include the following: Daily sales and labor data are smoothly uploaded in real-time for all sites, providing for rapid access.
- Restaurants that need to figure out how much new dishes will cost: Restaurant365 helps you to keep track of your food expenditures by comparing real to budgeted prices and reporting variances.
- Restaurants with seasonal and weekly volume swings may use Restaurant365’s forecasting tool to anticipate sales based on historical data or timing.
- Restaurants that seek to pay their invoices faster: R365 AP Automation is included in all Restaurant365 subscriptions, and it automates the payment of your bills, from scanning the invoice to producing accounting entries to paying the bill.
Restaurant365 Isn’t Right For You
- QuickBooks users: With the MarginEdge connection, you can remain using QuickBooks Online or Desktop and upgrade it to a full restaurant accounting tool.
- Caterers that wish to keep track of their projects: Restaurant365 is unable to categorize revenue and expenses by project. QuickBooks Online is more suited for this activity, since it enables you to design reports to gauge project profitability.
- Food trucks and carts are a kind of food service. Ace offers a suite of App for mobile deviceslications tailored to the needs of mobile eateries.
Check out our assessment of the finest small business accounting software if you believe generic bookkeeping software will satisfy your restaurant’s demands.
Restaurant365 Pros & Cons
Restaurant365 is a website dedicated to restaurants.
Pricing at Restaurant365
Connecting Points of Sale, which interacts with over 90 of the most common POS systems and allows you to see a Daily Sales Summary for each day and each restaurant location, is included in all of the plans below. Each plan is only valid in one place. Quarterly or yearly billing alternatives are available. Users may receive a 10% discount if they sign up for an annual plan.
- Inventory R365, Scheduling in R365, and R365 AP Automation are included in the Core Operations package, which costs $316 per month or $948 per quarter.
- Inventory R365, Accounting using R365, and R365 AP Automation are all included in the Core Accounting package, which costs $316 per month or $948 per quarter.
- Inventory R365, Scheduling in R365, Accounting using R365, and R365 AP Automation, as well as Connecting Points of Sale, Ordering with Intelligence, Smart Prep, Recipe Costing, Smart Labor, and Manager Logbook, are all included for $444 per month or $1,332 each quarter.
- Professional: $539 per month or $1,617 per quarter, which includes everything in Essential plus bespoke financial reports and company analytics.
Features of Restaurant365
One of the most important aspects that distinguishes Restaurant365 as the finest overall restaurant accounting software is its ability to interact with your POS system. Inventory management, scheduling, vendor connection, and comprehensive reporting capabilities tailored to the restaurant sector are also available on the platform. Its App for mobile devices allows you to do a variety of chores while on the go.
Connecting Points of Sale
Square, Aloha, Toast, Digital Dining, and Revel are just a few of the prominent POS systems that Restaurant365 completely interfaces with. It extracts precise information from your POS system, such as sales tickets, payment kinds, tenders, and job and employee hours done. Your accounting general ledger is automatically updated with daily sales and labor accrual journal entries. The reports may be set to run automatically every night or on demand.
Accounting using R365
The Restaurant365 General Ledger gives you complete control over your company’s financial health. You may establish a single account for various locations, enabling you to keep track of everything in one spot. You can automate bank reconciliations and keep track of your financial budget with a direct link to your bank accounts. You can monitor the lifetime expenses of all your fixed assets, including kitchen equipment and furnishings, using the fixed asset management feature.
Inventory R365
With real-time inventory and recommended ordering tools, Restaurant365’s artificial intelligence (AI) function lets you to keep track of all of your ingredients:
Inventory Reporting in Restaurant365: An Example (Source: Restaurant365)
Scheduling in R365
Predictive scheduling modules let you plan employees so that you may service clients swiftly and profitably:
Restaurant365 Scheduling Module Example Restaurant365 Scheduling Module Example Restaurant365 Scheduling Module Example Restaurant365 Scheduling Module Example Restaurant365 Sche
Accounts Payable Automation in R365
R365 AP Automation is a fully integrated feature that automates the accounts payable (A/P) procedure in your firm. It also features an AP Capture tool that pulls data from invoices automatically, reducing the time spent manually entering data. It also automatically records vendor invoice data in inventories and the general ledger. R365 will pay the payment via cheque, automated clearing house (ACH), or virtual card, depending on your vendor’s requirements, once it goes through your personalized approval procedure.
Ordering with Intelligence
Many major food suppliers have integrated with Restaurant365, allowing you to instantly update food prices and import invoices or credit memos, saving you hours of data input work.
Workflows
You may build up approval procedures and construct workflows for journal entries depending on the person who generated the item using the workflow functionality. Multilevel clearances may also be set up depending on geography, location type, or money amounts.
Reporting
There are a number of pre-styled, customizable reports available, all of which are tailored to the restaurant business. On restaurant financials, inventory, scheduling, and more, you may get both aggregated and comprehensive reports. You may anticipate sales using the forecasting tool based on historical data, timing, or even the weather.
The ability to measure the gap between theoretical and real food expenditures is one of Restaurant365’s most useful features. By comparing what your food expenses should be for a certain time period to the actual cost of the food utilized during that time, you may improve the efficiency of your inventory management. The difference between the two is known as the real versus theoretical food cost variation, and it tells you a lot about possible profit margin leaks:
Example of Restaurant365 Profit & Loss Statement (Source: Restaurant365)
App for mobile devices
Restaurant365’s App for mobile devices gives you access to all of its important features while you’re on the road. This includes managing your accounts payable by uploading invoices and approving transactions. You can also communicate with staff, modify shifts, approve or deny employee leave requests, keep tabs on your inventory, and access the logbook to track your restaurant’s performance. The App for mobile devices is ideal for catering events as it allows you to control workflows and view the catering calendar.
Management of a franchise
Franchisees may monitor royalties using the Restaurant365 Franchising module. You may get ACH payments straight from franchisee accounts using programmable billing, and you can receive accurate royalty payments. The feature also allows your franchisees to exchange specific data, which aids in their profitability.
Customer Service at Restaurant365
For all membership tiers, there are a range of customer service options, including a help portal, live telephone and chat, an online training academy, continuing live webinars, and a resources website with case studies, videos, manuals, and calculators.
Restaurant365’s phone support line is accessible from 9 a.m. to 8 p.m. Eastern time Monday through Friday, and from 9 a.m. to 6 p.m. ET on Sundays. You may still contact the support line after hours if you have a system failure or any emergency, and someone will respond within an hour.
Restaurant365’s User-Friendliness
Restaurant365 has a bit of a learning curve, and it may take some time to get comfortable with all of its capabilities. It does, however, offer an online resource with a variety of training things organized by user position (accountant or manager) or module type.
Alternatives to Restaurant365
Conclusion
Restaurant365 allows you to be completely connected to one single system while consolidating your reporting and operations in a mobile-friendly platform. It’s the ideal solution for franchises or restaurants with multiple locations because it integrates with your POS system, inventory, payroll, and vendors. Because it’s cloud-based with a powerful App for mobile devices, you can access all aspects of your business from anywhere.
Restaurant365 is a restaurant management software that allows users to manage their business from the convenience of their phone. The software includes features like accounting, inventory, and customer management. Reference: restaurant 365 accounting.
Frequently Asked Questions
How much is Restaurant365?
A: Restaurant365 is $3.99
How much does MarginEdge cost?
A: MarginEdge is a platform that helps users find the perfect time to buy or sell stocks, you can use it with your broker.
How does Restaurant365 work?
A: Restaurant365 is a quiz app that has multiple categories to test your knowledge. The more questions you answer correctly, the bigger the prizes are!
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