Software Advice has helped hundreds of restaurants choose the right accounting software so they can manage their finances and focus on making their customers happy. How does it work?

Restaurant Accounting Software


Sort by:
 
Sort by:
 
NetSuite logo
 
NetSuite is a business management software suite offered as a service that performs enterprise resource planning (ERP) and customer relationship management (CRM) functions. It is a horizontal package designed for an extensive range... Read More
Rating:            (63)
Rating:
         (63)
Price:
Advisor Recommendations:
67
Platforms:
Deployment:
Business Size:
S
M
L
NetSuite is a business management software suite offered as a service that performs enterprise resource planning (ERP) and customer relationship management (CRM) functions. It is a horizontal package designed for an extensive range... Read More
 
Multiview logo
 
For organizations seeking a solution that conforms to their existing operations, Multiview offers a suite of financial solutions. With Multiview, companies gain visibility over corporate data. The solution includes 14 modules that... Read More
Rating:            (5)
Rating:
       (5)
Price:
Advisor Recommendations:
63
Platforms:
Deployment:
Business Size:
S
M
L
For organizations seeking a solution that conforms to their existing operations, Multiview offers a suite of financial solutions. With Multiview, companies gain visibility over corporate data. The solution includes 14 modules that... Read More
 
Sage Intacct logo
 
Sage Intacct is a provider of cloud-based accounting software. Sage Intacct’s applications are suitable for small and midsize companies and can provide real-time financial and operational insights as well as the ability to automate... Read More
Rating:            (141)
Rating:
        (141)
Price:
Advisor Recommendations:
20
Platforms:
Deployment:
Business Size:
S
M
L
Sage Intacct is a provider of cloud-based accounting software. Sage Intacct’s applications are suitable for small and midsize companies and can provide real-time financial and operational insights as well as the ability to automate... Read More
 
Deskera logo
 
Deskera is an enterprise resource planning software formulated to run manufacturing operations. The system is suitable for companies manufacturing for a variety of industries. Textiles, automotive, distribution, metal processing, pharmaceuticals,... Read More
Rating:            (8)
Rating:
        (8)
Price:
Advisor Recommendations:
19
Platforms:
Deployment:
Business Size:
S
M
L
Deskera is an enterprise resource planning software formulated to run manufacturing operations. The system is suitable for companies manufacturing for a variety of industries. Textiles, automotive, distribution, metal processing, pharmaceuticals,... Read More
 
SAP Anywhere logo
 
SAP Anywhere integrates sales, marketing, e-commerce, and inventory activities into one complete front-office system. With SAP Anywhere users can manage and track inventory, manage orders, manage the procurement process, and more.... Read More
Rating:            (1)
Rating:
        (1)
Price:
Advisor Recommendations:
17
Platforms:
Deployment:
Business Size:
S
M
L
SAP Anywhere integrates sales, marketing, e-commerce, and inventory activities into one complete front-office system. With SAP Anywhere users can manage and track inventory, manage orders, manage the procurement process, and more.... Read More

Call us for a free FastStart Consultation: +61 3 8899 7476


 
VersAccounts Small Business Cloud ERP logo
 
VersAccounts is a web-based accounting and enterprise resource planning (ERP) system designed for growing small and midsized businesses looking to gain real-time financial and operational insights. This Cloud 2.0 system enables businesses... Read More
Rating:            (8)
Rating:
        (8)
Price:
Advisor Recommendations:
10
Platforms:
Deployment:
Business Size:
S
M
L
VersAccounts is a web-based accounting and enterprise resource planning (ERP) system designed for growing small and midsized businesses looking to gain real-time financial and operational insights. This Cloud 2.0 system enables businesses... Read More
 
Acumatica ERP logo
 
Acumatica ERP delivers an adaptable cloud and mobile-based enterprise resource planning solution with a user licensing model which enables a real-time view of business operations at any time from anywhere. Through a worldwide network... Read More
Rating:            (10)
Rating:
        (10)
Price:
Advisor Recommendations:
10
Platforms:
Deployment:
Business Size:
S
M
L
Acumatica ERP delivers an adaptable cloud and mobile-based enterprise resource planning solution with a user licensing model which enables a real-time view of business operations at any time from anywhere. Through a worldwide network... Read More
 
Sage Fixed Assets logo
 
Sage Fixed Assets offers integrated accounting features and multiple methods to track asset depreciation (straight line, ACRS, modified straight line, declining balance, even user-defined.) It integrates with other general ledger systems. The functionality... Read More
Rating:            (17)
Rating:
        (17)
Price:
Advisor Recommendations:
6
Platforms:
Deployment:
Business Size:
S
M
L
Sage Fixed Assets offers integrated accounting features and multiple methods to track asset depreciation (straight line, ACRS, modified straight line, declining balance, even user-defined.) It integrates with other general ledger systems. The functionality... Read More
 
FinancialForce Financial Management logo
 
FinancialForce Financial Management (FM) is a cloud-based system built to provide a complete financial management solution for sales and services-orientated companies of all sizes. FinancialForce FM has several inherent applications,... Read More
Rating:            (28)
Rating:
        (28)
Price:
Advisor Recommendations:
4
Platforms:
Deployment:
Business Size:
S
M
L
FinancialForce Financial Management (FM) is a cloud-based system built to provide a complete financial management solution for sales and services-orientated companies of all sizes. FinancialForce FM has several inherent applications,... Read More
 
Restaurant365 logo
 
Restaurant365 is a cloud-based accounting solution for restaurants of all sizes. Key features include accounting, inventory, banking, budgeting and analytics. Restaurant365 offers general ledger features such as retail fiscal periods,... Read More
Rating:            (1)
Rating:
        (1)
Price:
Advisor Recommendations:
3
Platforms:
Deployment:
Business Size:
S
M
L
Restaurant365 is a cloud-based accounting solution for restaurants of all sizes. Key features include accounting, inventory, banking, budgeting and analytics. Restaurant365 offers general ledger features such as retail fiscal periods,... Read More

Call us for a free FastStart Consultation: +61 3 8899 7476


 
Oracle JD Edwards logo
 
JD Edwards Financial Management is the accounting component of Oracle's JD Edwards EnterpriseOne (JDE e1) product line. This component can serve businesses of any size. The system is horizontal; it is designed to serve the needs of... Read More
Rating:            (46)
Rating:
        (46)
Price:
Advisor Recommendations:
2
Platforms:
Deployment:
Business Size:
S
M
L
JD Edwards Financial Management is the accounting component of Oracle's JD Edwards EnterpriseOne (JDE e1) product line. This component can serve businesses of any size. The system is horizontal; it is designed to serve the needs of... Read More
 
Microsoft Dynamics AX logo
 
Microsoft Dynamics AX 2012 is an ERP system suitable for midsize to large enterprises. The solution has particular strengths in manufacturing and distribution but is also capable of serving buyers across multiple industry verticals.... Read More
Rating:            (41)
Rating:
        (41)
Price:
Advisor Recommendations:
2
Platforms:
Deployment:
Business Size:
S
M
L
Microsoft Dynamics AX 2012 is an ERP system suitable for midsize to large enterprises. The solution has particular strengths in manufacturing and distribution but is also capable of serving buyers across multiple industry verticals.... Read More
 
SAP Business One logo
 
SAP Business One is an integrated enterprise resource planning (ERP) software suite designed primarily to serve small to midsize businesses. SAP Business One is used to address the needs of many industry verticals including manufacturing,... Read More
Rating:            (44)
Rating:
        (44)
Price:
Advisor Recommendations:
2
Platforms:
Deployment:
Business Size:
S
M
L
SAP Business One is an integrated enterprise resource planning (ERP) software suite designed primarily to serve small to midsize businesses. SAP Business One is used to address the needs of many industry verticals including manufacturing,... Read More
 
Microsoft Dynamics GP logo
 
Microsoft Dynamics GP is a financial accounting system designed to meet the requirements of small to midsize businesses. Microsoft Dynamics GP was originally developed by North Dakota-based Great Plains Software and was acquired by... Read More
Rating:            (65)
Rating:
        (65)
Price:
Advisor Recommendations:
1
Platforms:
Deployment:
Business Size:
S
M
L
Microsoft Dynamics GP is a financial accounting system designed to meet the requirements of small to midsize businesses. Microsoft Dynamics GP was originally developed by North Dakota-based Great Plains Software and was acquired by... Read More
 
Infor CloudSuite™ Financials & Supply Management logo
 
Infor CloudSuite Financials & Supply Management is a solution suite that provides financial functionality coupled with a source-to-settle supply management offering. The solution is role-based, mobile responsive and delivered in the... Read More
Rating:            (1)
Rating:
        (1)
Price:
Advisor Recommendations:
1
Platforms:
Deployment:
Business Size:
S
M
L
Infor CloudSuite Financials & Supply Management is a solution suite that provides financial functionality coupled with a source-to-settle supply management offering. The solution is role-based, mobile responsive and delivered in the... Read More

Call us for a free FastStart Consultation: +61 3 8899 7476


 
Exact Globe Next logo
 
Exact Globe Next is an end-to-end business management solution. It offers accounting, inventory management, billing and invoicing, financial reporting, and more. This ERP system can be deployed either on-premise on a local server,... Read More
Rating:            (2)
Rating:
        (2)
Price:
Business Size:
S M L
Platforms:
Deployment:
Exact Globe Next is an end-to-end business management solution. It offers accounting, inventory management, billing and invoicing, financial reporting, and more. This ERP system can be deployed either on-premise on a local server,... Read More
 
Infor SunSystems logo
 
Infor SunSystems is an integrated financial management, purchasing, inventory and sales management solution. It is used by more than than 9,000 customers in over 190 countries worldwide. Offered in multiple languages and currencies,... Read More
Rating:            (1)
Rating:
       (1)
Price:
Business Size:
S M L
Platforms:
Deployment:
Infor SunSystems is an integrated financial management, purchasing, inventory and sales management solution. It is used by more than than 9,000 customers in over 190 countries worldwide. Offered in multiple languages and currencies,... Read More
 
SAP ERP Core Finance logo
 
Over 30,000 companies, spanning 120 different countries, are using SAP ERP Financials to conduct their financial management.  Noteworthy names include General Mills and Office Max. SAP ERP Financials is a part of SAP’s Business... Read More
Rating:            (82)
Rating:
        (82)
Price:
Advisor Recommendations:
11
Platforms:
Deployment:
Business Size:
S
M
L
Over 30,000 companies, spanning 120 different countries, are using SAP ERP Financials to conduct their financial management.  Noteworthy names include General Mills and Office Max. SAP ERP Financials is a part of SAP’s Business... Read More
 
Macola Software logo
 
Macola is the ERP and business software that manufacturers and wholesale distributors trust to automate, grow and streamline their business workflows. Macola meets the unique needs of growing SMBs ─ automating and managing core... Read More
Rating:            (18)
Rating:
        (18)
Price:
Advisor Recommendations:
3
Platforms:
Deployment:
Business Size:
S
M
L
Macola is the ERP and business software that manufacturers and wholesale distributors trust to automate, grow and streamline their business workflows. Macola meets the unique needs of growing SMBs ─ automating and managing core... Read More
 
Sage 300 ERP (formerly Sage ERP Accpac) logo
 
Sage 300 ERP (formerly Sage ERP Accpac) is an enterprise resource planning (ERP) software system that serves small and medium-size businesses in professional services, financial services, public sector, and other markets such as distribution... Read More
Rating:            (35)
Rating:
         (35)
Price:
Advisor Recommendations:
2
Platforms:
Deployment:
Business Size:
S
M
L
Sage 300 ERP (formerly Sage ERP Accpac) is an enterprise resource planning (ERP) software system that serves small and medium-size businesses in professional services, financial services, public sector, and other markets such as distribution... Read More

View More Products
 

Buyer's Guide

by Lisa Hedges,
Content Analyst
Last Updated: July 24, 2017


While recent studies have shown that the restaurant industry has grown in the past few years, the fact remains that about 17 percent close within their first year of business. There are, of course, any number of reasons why a new restaurant may be forced to shut its doors, but certainly one of the most vital elements of running a successful company is keeping the books. Choosing the right accounting software to help you do that can be overwhelming, to say the least.

There are a ton of accounting systems out there, each with myriad features and applications available for customization. That's why it's important to know the basics about restaurant accounting software before you begin your search for the system that best fits your needs, whether you're tracking payments, payroll or produce.

Here's what we'll cover:

What Is Restaurant Accounting Software?
Common Functionality of Restaurant Accounting Software
What Type of Buyer Are You?
Cloud-Based vs. Perpetual License Software
Market Trends to Be Aware Of

What Is Restaurant Accounting Software?

Running a restaurant means keeping up with a lot of things, not the least of which is expenses. Fortunately, a good accounting system specifically geared toward your industry can alleviate much of this work by managing every aspect of your business's finances. Most restaurant-specific accounting systems offer the following modules:

Essentially, restaurant accounting software will offer the same modules as general accounting systems, but the functionality will be more directly tailored to restaurant management. Most restaurant bookkeeping software offers integration with other systems, such as point of sale (POS) and tax management or expense tracking and payroll.

Payroll overview in Xero

Payroll overview in Xero

Common Functionality of Restaurant Accounting Software

Expense tracking Tracks every dollar spent—from the purchase of ingredients for recipes to the cost of keeping the lights on. This function ensures business owners or managers won't miss anything, so that the books will always be balanced at the end of the quarter and there won't be any surprises when tax season arrives.
Inventory tracking Ensures businesses comply with the U.S. Generally Accepted Accounting Practices (GAAP) and tracks what a business spends on ingredients or supplies in order to provide a comprehensive report of where money goes. Inventory tracking software is especially important for restaurants because it can save money by preventing over-ordering and help chefs plan menus according to the availability of ingredients.
POS integration When integrated with restaurant-specific software, POS systems help servers calculate bills with state tax, incorporate tips, adjust inventory and print receipts. Some systems work with tax reporting modules to automatically produce filled-out government documents.
Payroll processing Some systems offer their own payroll tracking capabilities, while others are designed to work with stand-alone payroll software. Either way, having a reliable system in place allows restaurant managers to keep track of employee hours, automatically calculate payments and cut checks, cut down on human error and generate employee tax documents such as 1099s or W-4s.
Reporting tools Prevents managers or restaurant owners from having to manually code data in order to see where money is going. Reporting tools can provide specific sets of information to provide as narrow or broad a view of a business's finances as is necessary.
Banking integration Some systems allow businesses to link their bank accounts directly to the software to enable one-click payments and faster deposit times. This can save a great deal of time by taking over the menial task of manually recording every purchase or sale.
Profit/loss statement Keeps a running tab on the real balance of funds throughout a fiscal quarter, and produces reports whenever managers need them.

What Type of Buyer Are You?

The first step in determining which restaurant accounting system to invest in for your business is to figure out what kind of buyer you are. The majority of companies fall under one of the following three categories:

Small businesses looking to grow. Think of this as the local restaurant that recently made the decision to expand—be it through extending hours and bringing on more servers to cover those shifts or opening a second location. You may already have an accounting system in place, but you're quickly finding that growing means keeping more plates in the air (pun intended), and investing in a more capable software system is the best way to manage that.

Best-of-breed buyers. Restaurants that fall into this category are likely looking for software that offers a specific feature, such as payroll or inventory. Functionality will definitely be the most important consideration for this buyer, but integration—for example, an accounting system that can be linked to a tax management system in order to fully automate paperwork and IRS reporting, should not be overlooked as it can mean the difference between hours of manual data input and automatic data sharing. Beyond that, software that can integrate with other solutions can make things easier down the road when these buyers get ready to grow.

Enterprise or multilocation buyers. This bucket holds those eateries that are already very well-established; think multiple locations and availability in many different regions. These businesses are already operating on a relatively large scale, but may be prepared to upgrade accounting software to a more robust enterprise resource planning suites (ERP) that will offer fully integrated functionality. ERP systems afford large entities the ability to consolidate multiple companies and operate at an international level.

Cloud-Based vs. Perpetual License Software

As with most software markets, restaurant accounting software is offered in two forms: via perpetual license or by paying a monthly or yearly fee to use cloud-based accounting software.

When it comes to cost, businesses typically spend more upfront on perpetual licenses. This price tag can vary depending on things such as service tier, level of customer support and any update or maintenance fees. Cloud-based software, however, is usually priced per month according to the number of users or employees and the number of applications required.

Over time, the costs for each type of deployment will converge, but this should still be a consideration for restaurants that might not have as much room in their software budget at first.

Market Trends to Be Aware Of

Software-as-a-Service (SaaS). SaaS is a subscription-based software deployment and housing model. With this type of system, users log into a web browser in order to access the software. SaaS offers much lower upfront costs and faster implementation, and it is quickly becoming commonplace in markets such as retail and human resources.

Mobile accounting. As we come to rely more and more heavily on our cell phones and mobile devices to get stuff done, accounting vendors (and other market-specific software, for that matter) are now offering mobile integrations. This allows you to access cloud-based software on your iPhone and do things such as snapping a photo of a receipt and uploading it, then watching the software automatically incorporate that transaction information into your accounts.

Free Download:
Accounting Software Pricing Guide

Free Download:
Ten Steps Guide to Selecting the Right Accounting Software

 

How it Works

We match organizations with software that meets their needs.

Our service is simple and 100% free to customers like you because software vendors pay us when we connect them with quality leads. You save time and get great advice. Vendors get great referrals. It's a win for everyone!

Call now for advice: +61 3 8899 7476
Software Advice Advisors
×
-1
-1
-1
-1
-1
-1
-1
-1
-1
-1