Invoice Management


If you watch a restaurant before they open you will see a slew of delivery trucks and repair people needing the attention of the managers and chefs.  Each of which include a paper invoice.  Invoice management is a big topic in the restaurant business today.  Operators want to get rid of the paper and automate the bill paying process.   What should you be thinking about before you automate this process?  What best practices should you put into place?

Before you start the process of invoice management you should identify the software components that need this information to help you run your business.  You may just need the invoices to flow into your accounting software or you may need an inventory software that manages your cost of good.  Some restaurants have an inventory management software for food that’s separate from liquor, beer and wine.

So, step one, create a diagram for the flow of data. You may find that your diagram is large and complex. If this is the case, it may be time to look at a total solution that will streamline your technology.

Once you understand how the automation will impart your business and where the data needs to flow, then you need to identify how you will be using the data.  Different ways to use the data include:

  • PO to Bid Price Management
  • Price updates for Inventory Costing (FIFO, Last Price, Average Price)
  • Price updates for Inventory Costing (FIFO, Last Price, Average Price)
  • Accounting Integration
  • P & L Management

In the coming blogs I will focus on how to use the invoice data to streamline your operations and Increase Profits.

Author: Naomi

Naomi is the President at Dining Edge based in Boca Raton, FL. Are you a restaurant owner or operator looking to reduce costs, streamline time & increase savings all-around in your restaurant? Contact me today to get started with your free demo.

Popular posts like this

Bar Inventory POS Restaurant

Sitting Inventory and What It Really Costs

Hello EdgeReaders! As a restaurant/bar owner or manager, the key is to manage inventory 24/7. Cost of Good represents 20-40%...
Read More
Bar Inventory Order POS Restaurant

Is Online Ordering Really Important?

Today’s blog is important, especially now with all of the post-pandemic scenarios all over the world. By now you may...
Read More
Rebate Uncategorized

Advantages Of Comparing Prices From Multiple Vendors

When ordering items for your restaurant, do you shop around for the best deals? Or do you feel more comfortable...
Read More
Rebate Restaurant

Ideas on How to Utilize your Newfound Rebate Savings

Finding savings where you can and then putting those savings towards ideas that will increase traffic to your restaurant is...
Read More

How Do You Track Your Inventory?

As a restaurant owner you have 3 options on how to handle the subject of counting your inventory. Don’t Count...
Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

Request a demo to see what DiningEdge can do for you.

No Obligation – Free Demo