Why Restaurants Get More Value with Our Advanced Package

Unlike many other businesses, restaurant owners face a unique set of financial and operational challenges. Daily deliveries, fluctuating food costs, and labor management are just a few of the factors that can make or break a restaurant's profitability. 

In an industry where prices can change overnight, keeping your menu pricing accurate while managing rising costs is a constant challenge. For restaurant owners, this balancing act is critical to staying profitable—but it doesn’t have to be overwhelming.

The right accounting solution helps by tracking expenses, monitoring food costs, and allowing you to adjust pricing in real time to stay competitive. 

In this article, we’ll show how the Advanced Package helps restaurant owners take control of their costs and increase profitability, making it a more strategic choice than the Core Package.

Problems with the Core Package for Restaurants

Our Core Package is designed for business owners who simply want to have their bookkeeping tasks completed without much involvement. 
It includes the basics like monthly financial statements, tax returns, and basic tax planning. However, for restaurant owners, this package may fall short due to several limitations:

1. Cash Basis Accounting: Restaurants benefit more from accrual accounting, which matches income and expenses to the period they occur, providing a clearer picture of profitability.
2. Lack of Detailed Cost Tracking: The Core Package doesn’t support detailed tracking of food costs, supplies, and inventory management, which are crucial for a restaurant's success.
3. Limited Back Office Support: It doesn't include bill payment management, which is vital for managing numerous invoices and ensuring costs are categorized correctly.

Differences Between Core and Advanced Packages

So, what makes the Advanced Package more suitable for restaurants?

Technology Integration

The Advanced Package integrates seamlessly with QuickBooks Online and Restaurant 365, capturing financial data in real time. This automation reduces manual entry errors and saves time, giving restaurant owners instant access to accurate financial insights for faster, informed decision-making.

Detailed Cost Tracking

It allows for detailed tracking of food and labor costs, providing a clearer understanding of where money is being spent and where savings can be made.

Comprehensive Back Office Support

From managing bills to tracking inventory, the Advanced Package takes over many back-office tasks, freeing up time for restaurant owners to focus on running their business.

Cost of the Advanced Package

Running a restaurant is demanding—managing staff, keeping costs under control, and staying on top of day-to-day operations can be overwhelming. The Advanced Package is designed to make that easier.

Starting at $1,250 per month, it provides more than just bookkeeping. It gives you the financial tools and insights you need to make smarter decisions. For most restaurants, the cost is around $1,500 per month per location. If you have multiple locations or more complex needs, it could go up to $2,500 per month. 

Yes, it’s an investment, but one that pays off with real-time data, detailed cost tracking, and full back-office support—letting you focus on running your restaurant, not on spreadsheets.

Value of the Advanced Package

Accurate Financial Reporting

By capturing all invoices and expenses in real time, the Advanced Package delivers a clear view of your financial health. Your financial statements reflect the true state of your business, allowing you to quickly respond to challenges and seize new opportunities.

This accurate reporting empowers restaurant owners to identify trends, manage cash flow effectively, and make informed decisions that drive profitability.

Time Savings

With the Advanced Package, restaurant owners can save significant time on administrative tasks, enabling them to focus on improving their business and serving customers.

Informed Decision Making

With detailed reports and real-time data, you can make strategic and informed decisions about menu pricing, inventory management, and cost control. 
This accurate reporting empowers restaurant owners to identify trends, manage cash flow effectively, and make decisions that drive profitability.

Features of the Advanced Package

The Advanced Package is designed to meet the specific financial needs of restaurant owners, offering the tools and insights needed for smooth operations:

Accounts Payable Management

Vendor bills are automatically captured and categorized, allowing for timely payments and accurate tracking of expenses. This feature provides a clear overview of cash flow, helping you avoid late payments and maintain strong supplier relationships.

Inventory Management  

With regular inventory checks, you can stay updated on stock levels, keeping food costs under control. By integrating sales data, it helps you make informed decisions on ordering, reduce waste, and manage costs more effectively.

Seamless System Integration

Connect your POS system with accounting software like QuickBooks Online or Restaurant 365 to gain a comprehensive view of your financials. With automated data syncing, you can easily monitor sales, expenses, and profits all in one place.

Weekly Financial Summaries

Receive detailed weekly updates on bank balances, upcoming expenses, and financial commitments. These insights help you prepare for future expenses and make informed financial decisions with confidence.

The Secret Ingredient to Running a Profitable Restaurant

Passion may drive your restaurant, but it's smart financial decisions that keep it profitable. 

By tracking costs, focusing on profitability, and leveraging accurate financial data, you can create a sustainable business that thrives in any market.

With Patrick Accounting’s Advanced Package, you get detailed cost tracking, real-time financial insights, and significant time savings. Plus, you’ll have a team to help turn those numbers into real profits—so you can focus on what truly matters: creating great food and making customers happy.

Are We the Right Fit for Your Restaurant?

See if Patrick Accounting is what your restaurant needs in our article, Who Is a Good Fit for Patrick Accounting?.