Restaurants and Franchises of various shapes and sizes must navigate a challenging industry with a number of obstacles. Profitability in the face of thin profit margins, high overhead costs, and the ever-present threat of food and cash shrinkage can be difficult to control.
Responding to client needs, we developed new features and optional modules within Microsoft’s top selling accounting / ERP software, Dynamics NAV and some features independent from NAV. All are specifically designed to help restaurant and franchise owners and managers improve performance in these areas.
Restaurant / Franchise Billing challenges solved. See which applies to your business:
Time to transition to new software solved by “Quick Start”
The Restaurant Quick Start Company Template gets you up and running on Microsoft Dynamics NAV with minimal setup on your part. Restaurant company template includes:
- Pre-configured setup tables.
- Restaurant chart of accounts.
- Pre-built recurring journal entries to record Daily Sales Reports (DSRs) if you do not choose to automate the interface with your POS system.
- Pre-built financial statements including an income statement with food, beverage, liquor, beer and wine costs as a percent of related revenue, income statement by store, and more.
- Conversion utilities to import vendors, catering customers, opening balances from QuickBooks, Great Plains, MAS90/200, and other software.
- Customized menu for quick access to functions most used by restaurants.
- All settings are easily changed to fit your unique needs.
“Slice and Dice” sales, costs, and financial statements at any level – without maintaining a large number of G/L accounts
- Rapidly analyze revenue & cost of sales by Location, Area Manager, Food, Beverage, Alcohol, Catering, Coffee Bar, Breakfast, Lunch, Dinner, etc.
- Report on Promotions, Coupons, Guest Counts, etc.
- Report by Sales Managers, Territories, States, DMA, etc.
- Reporting by any classification is made possible by simply assigning a G/L ‘Dimension’ code to each classification, replacing the old-style fixed G/L account segments.
- Dimension codes can be added quickly and independently anytime, without having to add all the potential G/L accounts that may post to them.
- Label G/L Dimensions with names, numbers, or codes you choose.
- G/L accounts are used in combination with Dimensions in identifying or posting each transaction to the G/L.
- When converting to Dynamics NAV, some clients have reduced their G/L accounts from over 10,000, in an attempt to analyze many locations and components of their business, to only 100’s of accounts.
Provide operations visibility to act on weekly/daily financial results, before month-end close
- Generate financials by day, week, 28 days, month, quarter, YTD, etc.
- At the same time, accounting periods may be defined and reported monthly.
- Dynamics NAV is entirely date sensitive, enabling sales, cost, and expense analysis by any date range.
Solve lagging ability to analyze Daily Sales Report (DSR) and Food Costs – direct from POS
- Seamlessly connect Microsoft Dynamics NAV accounting with restaurant POS or POS back office systems (including Aloha, MenuLink, POSitouch, NorthStar, Digital Dining, Micros, Transaction Web, and others).
- Automatically retrieve POS information from any POS based on MS SQL Server and non-SQL systems which create export files (this often occurs during the end-of-day process).
- Avoid double keying data from each location into accounting.
- Daily Sales Report (DSR) info is automatically transferred to Dynamics NAV accounting.
- Purchases (including cash draws) made at the POS are transferred to Dynamics NAV accounting.
- Automate periodic (weekly/monthly) calculation of Cost of Goods in Dynamics NAV when transferring values from the POS.
Reduce Cash Shrinkage with 3-way Reconciliation of Bank, Credit Card, and POS
- Reduce delayed deposits and shrinkage.
- Electronically perform daily, weekly, and monthly reconciliation of restaurant reporting.
- Electronic feed from bank imports and reconciles actual deposits in Dynamics NAV.
- Electronic feed from credit card processor imports and reconciles credit card settlements in Dynamics NAV.
- Electronic bank statement files may include transactions that have not yet been recorded in the accounting software. Our bank reconciliation module provides functionalities to process these transactions directly from statement files.
- Process bank fees and charges, generating the appropriate accounting entries.
- Process incoming electronic fund transfers from corporate customers or catered sales.
- Pay vendors electronically, via ACH.
Use A/P and Purchasing features benefiting restaurants
- Allocate vendor bills that span accounting periods so the correct portion is booked to each related accounting period.
- Import invoices directly from food suppliers and other vendors, eliminating data entry time and speeding visibility of payables due, while reducing errors.
- Manage A/P to maximize cash flow – automatically pay vendors just-in-time and keep the cash until bills are due.
- Multiple payment options to pay vendors including check, auto-sign, electronic ACH payment.
- Purchase Orders automatically become invoices, reducing data entry.
Eliminate need to enter Franchisee results by providing a portal for franchise partners
- Enable franchise partners to enter results via a secure web portal.
- Supports any number of sales components, guest counts, meal time, coffee bar, etc.
- Report results in any time increment, e.g. weekly, monthly.
- Franchise partners may enter, edit, or view information for any store they have permission to access.
- Results are brought into Dynamics NAV for calculation of franchise fees (see below).
- Alternatively, fees may be calculated on the web, helping Franchise partners to remit the correct fees and reducing reconciliation time at corporate.
Automate the manual procees of Franchisee Fee Calculation and Billing (optional)
- Automatically calculate franchisee fees based on multiple sales figures, guest counts, or other figures as needed.
- Fee percentages and calculations may be unique for each store.
- Record both gross franchisee store sales as well as franchise fees.
- Automatically bill (optionally) franchisees based on reported sales.
- If allowed by agreement, optionally debit franchisee bank accounts.
- For franchisees behind on reporting, store sales may be estimated based on history and fees calculated based on the estimate. Estimates are replaced with actual fees when actual store results are reported.