PODCAST · business
The Tip Share
by RASI - Restaurant Accounting Services Inc.
A Restaurant Industry Podcast
Episodes
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Tip Pooling Calculator
Discover the power of a Tip Pooling Calculator, designed to streamline fair distribution of tips among restaurant employees. Using a Tip Pooling Calculator ensures consistency and fairness in dividing tips, reducing manual efforts and potential errors. Customize the calculator's formula to match...
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How to Create a Balance Sheet for Small Business
Discover the Power of Balance Sheets for Restaurant Success! Learn how to create a balance sheet for your restaurant business. This essential financial tool provides insights into your fiscal standing, guiding your path to stability and growth. In this episode we cover everything you need to know...
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Profit Margin Calculator for Restaurants
Profit margin is a key indicator of restaurant financial health. It's a measure of how much money your restaurant makes above its costs, expressed as a percentage. In this episode, we'll show you how to calculate profit margin for your restaurant using a simple formula. As a bonus, we'll also…
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Restaurant Produce Ordering Guide
Are you tired of wasting money on produce that goes bad before you can use it? Do you spend hours every week ordering produce from different suppliers? In this episode, we'll show you how to create a restaurant produce ordering guide that will save you time and money. We'll cover everything from...
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Budget Friendly Restaurant Events & Promotion for Summer
Ready to elevate your restaurant's summer events and promotions? Uncover expert strategies to captivate your target audience, leverage social media, and implement budget-friendly ideas. From collaborating with neighboring establishments to crafting mouthwatering seasonal menus and refreshing...
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Restaurant Produce Storage Guide
In this episode, we discuss the importance of proper produce storage in a restaurant. We cover factors that affect freshness, specific produce storage tips, and best practices for produce storage. Plus, we learn how to select high-quality produce. Listen to learn all the tips and tricks of...
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How To Calculate California Restaurant Tax
In California, restaurants are responsible for paying sales tax to the state on taxable items. What makes a transaction taxable? The answer gets a little complicated for restaurants. The key distinctions are whether the food is hot or cold, and whether it is intended to be consumed on the…
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Complete Guide on Restaurant Taxes for Managers/Owners
Keeping up with State and Local taxation laws and compliance can feel overwhelming and confusing. As a restaurant owner, ensuring accurate and timely tax payments is critical to avoiding unnecessary penalties and maintaining licensing. Understanding tax types, what they mean to your business and...
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What Restaurant Owners/Managers Should Know About Tips
Do you have questions about how to handle tips for your restaurant staff, tip reporting, and compliance? In this episode, we will discuss everything you need to know about tips in a restaurant. From withholding requirements to the importance of proper reporting, we'll cover it all. Tips are often...
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How to Buy a Restaurant: Everything You Need to Know, Financially
Are you ready to fulfill your dream of owning a restaurant? It's an exciting venture, but before you dive in, there are critical financial factors you need to consider. In this episode, we're going to show you everything you need to know before buying a restaurant and how to assess its financial...
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8 Benefits of Restaurants Using Payroll Management Technology
If you're running a restaurant, managing payroll can be time-consuming and challenging. But with payroll management technology, you can streamline the entire process, saving time and reducing errors. In this episode, we'll explore the benefits of using payroll management technology in your...
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Optimizing Restaurant Payroll Percentage
Discover the basics of calculating your restaurant payroll percentage and why it's crucial for the health of your operation. In this episode, we'll discuss how modern technology and sound management practices can improve it over time. Listen to the episode to learn all things payroll percentage...
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Comprehensive Checklist for Running Payroll
Running a restaurant requires adhering to best practices and guidelines for various processes, including supply chain optimization, kitchen procedures, and payroll. While most restaurateurs are not payroll experts, it is essential to ensure compliance and accurate tax reporting to avoid penalties...
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Complete Guide on How to Do Payroll for Restaurants
Restaurant owners and operators often approach payroll with apprehension. In this post, we'll show you that payroll does not have to be difficult. With the right, hospitality-specific, payroll processor, simplifying the payroll process while paying your team members timely and accurately is, in...
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When and How to Switch Your Restaurant Payroll Software
Looking for a guide on when and how to switch your restaurant payroll software? Look no further! Your restaurant payroll software is a crucial investment for your business, and outdated technology or a rapidly changing workforce can make it necessary to switch to a new solution. But how do you...
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Restaurant Business & Startup Loans - Complete Guide
Discover the essential guide to securing a loan for your restaurant business or startup! In this episode of The Tip Share, we'll explore the different types of restaurant loans available, including small business loans, business lines of credit, traditional commercial loans, and business credit...
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How Do Restaurants Use Data Analytics?
When it comes to restaurant data, most operators record and track basic sales data, such as tickets, ticket size, tips, and nightly totals for food and beverage. They may be doing this manually, or directly through their point of sale (POS) system. Your average restaurant then takes this basic...
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Why You Should Embrace Technology in Restaurants
Like many business trends, technology for restaurants is largely driven by demand. And this demand originates with how, when, and where your customers eat. Technology is an important and integral part of every restaurant - it can assist you achieve your goals, improve your business operations…
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Restaurant Menu Pricing: The Secret to your Restaurant’s Success
What’s the one key ingredient – figuratively speaking – of your restaurant’s ultimate success? Some restaurant or bar owners think it’s all about location, location, location. Others may lean toward a loyal customer base. And don’t forget about seasonal swings and capitalizing on the “perfect...
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How Do Restaurants Manage Inventory?
Inventory management enables restaurants to track existing product levels (food, supplies, etc.), and also know when to reorder. And it’s certainly one of the more “tricky” aspects of day-to-day restaurant management. Managing restaurant inventory is the ultimate balancing act; your business...
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Restaurant Permits & Licenses Needed to Open a Restaurant
If you own a restaurant, you’re aware of how hectic it was just getting up and running. And if you’ve already acquired food & beverage licenses and permits, you know how daunting the process can be. Getting all of your restaurant permits and licenses in order is no easy task. Plus, it’s rarely a...
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How to Calculate Food Cost
Every restaurant operator has a multitude of responsibilities. From profit optimization to menu engineering, there’s never a shortage of factors to contend with. Thanks to recent spikes in inflation and rising costs, food cost percentage is suddenly back as a hot topic — and for good reason. By...
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Shift Schedules: A Complete Guide
If you manage a restaurant, you already know how important shift scheduling is. But are your shift schedules working in the best interest of your staff and entire restaurant? Given the unique demands of scheduling shifts – after all, less than half of U.S. restaurant workers are full-time…
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How to Manage Restaurant Staff
The recipe for a great restaurant manager starts with this foundation: managing restaurant staff. Whether you're thinking about accepting a promotion to a management position, or if you're already a manager and would like to learn innovative ways on how to manage restaurant staff, the following...
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5 Important Restaurant Management Skills
Every well run organization starts at the top. Sometimes, managers are brought in from another restaurant. And more often than you think, regular employees are promoted to manager. But which restaurant management skills separate the good leaders from the great ones? What’s more important –...
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Restaurant Revitalization Fund (RRF) Updates - August 2022
The SBA is set to award an added $180 million in unspent funds allocated for the Restaurant Revitalization Fund (RRF) back in 2021. This is not an infusion of funds into the RRF currently; in fact, a new law was introduced and passed by the House of Representatives to replenish the RRF with more...
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Restaurant Accounting: Complete Guide
Getting a restaurant up and running is a challenge. Keeping a single establishment or franchise profitable over months and years is even more so. What separates the restaurants that quickly fail from those that have been established for an extended period? You could argue – and we’d certainly…
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Quick Snippet: Restaurant Assets - Everything You Need To Know
Do you know everything about your restaurant assets? Not just what they are, but how your restaurant's assets interact with other critical elements of that indispensable, indisputably important financial report, the balance sheet? Throughout this episode, we’ll dive into our all-in-one resource…
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Easy Tips: How To Read A Restaurant Profit and Loss Statement (P&L)
Many operators don’t fully understand how to read a restaurant's Profit and Loss Statement (P&L). In fact, many don’t even have a basic understanding of where the data is coming from. Furthermore, how to interpret the data into actionable insights. It’s critical for the financial health of all...
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Cost of Goods (COGS) 101: The Basics
Restaurant Cost Of Goods (or to some, Cost Of Sales) take up a significant amount of a restaurant’s overall expense. Unfortunately, many owners/operators fail to see how COGS for restaurants can significantly negatively impact profitability and cash flow if mismanaged or handled inconsistently....
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What are Manufacturer Rebates?
Learn about the details of restaurant manufacturer rebates and how they can positively affect your restaurant's bottom line! Read the full Blog Post: https://rasiusa.com/blog/what-are-restaurant-manufacturer-rebates Watch the Quick Snippet Video: https://youtu.be/TWNwezzEUBU Social Handles: RASI...
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Top Restaurant Accounting Tips: Closing Out Capital Expenditures and Preopening Expenses
Successfully closing out a period starts the domino effect for proactively operating a restaurant versus missed opportunities in the following periods. The Period End Financial Close purpose is accuracy verification to highlight where your money is going. This enables you to make quicker, more...
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The Basics of Restaurant Budgeting
Your restaurant may have a great menu, loyal customers, and an unbeatable location, but without effective restaurant budgeting, none of those factors matter. A strategic and accurate restaurant budget plan is your establishment's roadmap to success; In other words, it's the most trustworthy guide...
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Colorado Retailer Retention of Sales Tax & Your Restaurant
Colorado Retailer Retention of Sales Tax, bill HB22-1406, applies to Colorado sales taxes collected in July, August, and September of 2022. This bill allows a temporary deduction from state net taxable sales for restaurants, bars, and other eating places (food trucks), or catering services in the...
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How Does the New Mexico Healthy Workplaces Act of 2021 Affect Your Restaurant?
The Healthy Workplaces Act of 2021 takes effect on July 1, 2022. This law requires all private employers in New Mexico to allow employees to accrue and use earned sick leave. Employees may use this leave for several reasons listed in the Act; for example, taking care of a qualifying family member...
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Everything You Need to Know About the Colorado Retail Delivery Fee
Effective July 1, 2022, the state of Colorado will impose a retail delivery fee on all deliveries by motor vehicle to a location in Colorado, even if the delivery originates in a different state. Here's what you should know. Read the full Blog Post:...
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Quick Snippet: The Importance of Franchise Accounting
A franchise is all about authorization. For entrepreneurs and small business owners, owning a franchise offers them the ability and support to carry out the larger corporation’s core company offerings and commercial activities. During this quick snippet, we'll review some core principles and...
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Top Restaurant Food Cost Management Tips: How To Use A Declining Budget
One of the most important tools in restaurant accounting to effectively manage food cost is a Declining Budget. When used properly, a Declining Budget can be one of the best tools for stabilizing your costs as well as increasing your cash flow. Learn more about how this particular budget will...
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How to Start a Restaurant - The Ultimate Financial Plan
You’d like to know how to start a restaurant business but are not exactly sure where to begin. You want to start a restaurant and you create the ideal concept in your head. That concept begins with the idea at its inception. However, for your idea to survive, or even better to thrive, it must...
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What is the Average Profit Margin for a Restaurant?
The restaurant industry has, by and large, low-profit margins constrained by high capital, labor, and operational expenses. Yet there is a wide range of profitability within the industry, from white tablecloth establishments with low single digits profits to quick-service restaurants clearing…
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Top 3 Reasons Outsourcing Accounting & Payroll Will Benefit a QSR
Quick service restaurants (QSR) have complex accounting and payroll needs. Traditionally, expensive salaried employees have fulfilled these needs, but in the last 5+ years, technological advancements have opened the door to more cost-effective alternatives that increase operational efficiencies!...
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How to Record Tips in Accounting
When restaurant staff receives tips, both employee and employer incur legal obligations to the IRS to correctly record the tip amounts, comply with reporting requirements, and pay income and payroll taxes. For the restaurant operator, it’s critical to get these details correct from the start to...
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Understanding the Function of Your Restaurant's Cash Flow Statement
Experienced restaurant operators closely manage the inflows and outflows of cash through their business. Sound management of available cash is critical to the ability to pay wages, keep the lights on, stock the walk-in, and make distributions to owners. The financial document that summarizes…
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How to Turn Your Restaurant Analytics into Profitable Business Intelligence
Today, innovative restaurants are using business intelligence to drive operational efficiencies, improve profitability, and reduce managerial burdens. How do they do it? The clearest way to understand restaurant business intelligence is to run through example metrics used by experienced…
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Restaurant Sales Forecast with POS Data
As a restaurant operator, you know that a modern point of sale (POS) solution generates tons of data. The question is, how do you use that data to materially improve restaurant operations? One of the best applications for POS data is as a tool to make more accurate restaurant sales forecasts....
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What is a Chart of Accounts for a Restaurant?
As a restaurant operator, it’s critical that you understand your sources of revenue, your expenses, and the balance between the two. The chart of accounts is a comprehensive method of reviewing these critical performance indicators. Having a solid grasp of your chart of accounts gives you the...
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Why Your POS System and Accounting Software Need to Be Integrated
Think of the multitude of processes your restaurant performs on a daily or weekly basis - Payroll. Payment processing. Vendor Payments. General accounting - and those are merely the tip of the proverbial iceberg. Now, think about how seamless all these tasks would be with a streamlined, automated...
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The Best Tips for Strategic Vendor Management
If you’re new to the restaurant business, you’ve probably heard about strategic vendor management but aren’t exactly sure what it entails. Well-experienced business owners in the field know it’s absolutely critical for maximizing not just ROI but also the relationships and connections that make...
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What to Consider When Setting Up Payroll for Your Restaurant
You may be asking, how does payroll work? That is, what should payroll look like for a restaurant? We’ll start with the basics. What is payroll? Payroll is the business process of regularly paying out all your wage, payroll tax, and benefit liabilities to employees. We’ll spell those out: wages…
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How Do You Categorize Restaurant Expenses
Opening a restaurant is a costly endeavor, and successfully running a restaurant requires strict attention to your restaurant expenses to control costs and increase efficiencies. Few restaurants can get by with paper, pencil, and a stack of excel sheets for manual data entry. Such restaurants…
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ABOUT THIS SHOW
A Restaurant Industry Podcast
HOSTED BY
RASI - Restaurant Accounting Services Inc.
CATEGORIES
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Frequently Asked Questions
How many episodes does The Tip Share have?
The Tip Share currently has 128 episodes available on PodParley. New episodes are automatically indexed when they're published to the podcast feed.
What is The Tip Share about?
A Restaurant Industry Podcast
How often does The Tip Share release new episodes?
The Tip Share publishes regularly with 128 episodes available. Check the episode list for the typical release schedule.
Where can I listen to The Tip Share?
You can listen to The Tip Share on PodParley by clicking any episode. We provide an embedded audio player for direct listening, and you can also subscribe via your preferred podcast app using the RSS feed.
Who hosts The Tip Share?
The Tip Share is created and hosted by RASI - Restaurant Accounting Services Inc..
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