Kianoff Hospitality and Restaurant Accounting Systems Puts You Ahead of the Competition
Take advantage of proven best practices for the restaurant / hospitality industry.
Our hospitality and restaurant accounting systems allows you to see and monitor every aspect of your business. Your corporate office will run smoother and more efficiently on a solution supported by our team of consultants, CPAs and certified trainers with years of experience in the restaurant industry. The owners of dozens of restaurant concepts rely on Kianoff & Associates to strengthen their business performance.
- 950+ QSR and Casual Dining restaurants; 3 of Nation’s Top 100 Restaurant Groups
- 24,000+ employees tracked, managed and paid
- 31 Different Dining Concepts producing $1+ Billion in Annual Sales
Advances in Technology Can Help Streamline Restaurant Operations
The demands of today’s marketplace leave you no choice if you want to stay relevant and competitive in the restaurant and hospitality industry. You must:
- Meet increasing customer demand for value, quicker delivery and quality service
- Meet employee demand for more streamlined processes and the tools that can make them effectively better at their jobs.
- Meet management demand for timely, relevant information that provides insights into all the pieces that make up your bottom line.
To deliver at this level you need solid business accounting systems and management that will do more than just support you now; it needs to be ready in anticipation of your needs. Kianoff gives you real time performance and business intelligence using Microsoft, Intacct and Sage software. These are feature rich systems with the flexibility and information you need. And, all backed by a support team with the skills and experience to configure the system for today and tomorrow.
Trusted in Over 30 States by over 950 Restaurants
Dozens of different restaurant concepts rely on Kianoff & Associates to strengthen their business performance. We serve restaurant owners nationwide with restaurant accounting systems and solutions that deliver the key metrics they need to run their businesses profitably.
Limitations of Some Multi-location Companies: Is this your business?
- Disconnected information flow between stores and corporate management systems. Each location keeps up with business in separate data bases so there is no consistent visibility.
- Information manually shared via spreadsheets resulting in inefficient work flow processes, delayed access to critical information, and data transcription errors from all the manual work.
- Limited access to financial and operating data / metrics for all appropriate employees to be able to manage the business. Limited visibility to information, such as detail on operational expenses.
- Limited financial view of operations by location, territory, concept, ownership.
- No workflow processes standardized across locations
- Operational metrics do not reflect a full view of expenses.
Maintain visibility and tight control over revenues, expenses & employees across all locations
The changing needs of a multi-store franchisee or group demands a platform that can adapt to business growth and changing needs. Regardless of your restaurant brands or target markets, strong revenue and strong bottom lines is what’s needed for survival and success. Our business accounting systems deliver trustworthy and timely information that enables you to compare data from location to location for both revenue and expense.
Kianoff’s focus is on using technology to automate processes and integrate information through restaurant accounting systems that give you accurate data. We’ve implemented best practices with clients in an industry that is loaded with “multiples” and today we support restaurant companies across the US that together own or manage more than 750 QSR and casual dining locations. We guide clients on how to adopt best practices that fit their operations.
Q and A: The challenge of managing multiples: Locations. Owners. Concepts. Territories.
How do we manage multiple components across our business with one system? By connecting your financial accounting, reporting and analysis activities to your front of house and back of house allowing you to access your revenue and store metrics as well as operational and full financial data.
How can we address corporate structures with multiple entities and ownership arrangements? A flexible General Ledger enables us to build a solid foundation that can grow as you do. Multi-view reporting coupled with inter- and intra- company functionality delivers organized and readable presentations of complex consolidated financial statements.
How do we keep up with sales, costs, building maintenance and other activities at all the different locations? Using a highly capable reporting suite that gives you:
- Operational reporting
- Analysis, with options for business line and store reporting for visibility of potential improvement
- Dashboards with Key Performance Indicator metrics you define
How do we handle growth as we add new locations to our systems? Our best practices are built for growth, so it’s straightforward to add a new location or entity as the setups are automated based on standards defined. This saves time and reduces errors.
How do we tackle this level of business process change? By partnering with Kianoff : Our team brings great depth of experience in multi-location, multi-faceted and often complex restaurant management companies. Our skills include strategic discussions, technology implementations and configurations. We’re also accountants, so we know accounting, payroll, inventory and technology. You get the benefit of our Best Practices for strategy planning and efficiently implementing your business management system.
How do you minimize fraud? Let us show you cash reconciliation between the POS, the bank and accounting along with security best practices and standardized processes.
How do you share costs between locations, territories and legal entities? Inter- and Intra- company best practices properly track “due-to/due-froms”. Allocations within entities allow you to properly share overhead expenses across stores, employees and more.
Whether it is performing daily cash reconciliation to maintain a tight control over revenue coming in the door or carefully managing inventory and supplies at each location, you will benefit from the powerful financial and inventory management technology Kianoff & Associates can deliver, including:
- Key Performance Metrics
- System integration to POS and Banks
- Complex financials requiring allocations or intercompany relationships or consolidations.
- Food & Labor Analysis
- Financial Analysis incorporating a total view of revenue and expenses and net income.
Custom solutions for dynamic hospitality organizations
Multiple location restaurants, hotels and other entertainment venues must control products, operations, and technology to be successful. Kianoff & Associates applies industry expertise to deliver financial analysis, labor, and cash management technologies to drive your success.
We specialize in creating custom systems to help restaurant and hospitality groups with:
- Multiple locations
- Multiple legal entities that need to interact with each other
- Multiple concepts and types that need analysis
- Multiple departments, such as catering and corporate
Contact Kianoff & Associates for hospitality and restaurant accounting systems that give your business a competitive edge.
Hospitality & Restaurant Business Intelligence
Kianoff & Associates provides a full suite of restaurant business intelligence reports for multi-site restaurant operations to strengthen your business performance
Our best practices are tailored to hospitality and restaurant groups with multiple locations.
Goal of Our Restaurant Business Intelligence and Accounting Systems:
Streamline operations, increase efficiency and free valuable resources to devote to supporting your customers.
Our restaurant accounting systems allow you to stay on top of cash and credit transactions on a daily basis, which addresses one of the most vulnerable areas of any restaurant. We combine that with a restaurant centric chart of accounts, restaurant centric financials and ability to also track non-financial information, such as employee counts. What you want is that view into restaurant business intelligence and find the areas where you can really have an impact. Examples:
- Daily Cash Reconciliation of cash, checks and credit cards through automation of the bank reconciliation process. This saves valuable time and resources, provides automated alerts at the unit, area and corporate level, and maps activity across all locations.
This Daily Cash Management component provides both tools and processes to reconcile bank balances daily, including complex credit card deposits and transfers between accounts. Having this information feed from the restaurants to the home office means you always have a current, accurate picture of how each location, territory and manager, are performing.
Unique Reporting offerings for Financials and Operational Reports deliver restaurant-specific, predefined reports. Now you have timely and accurate information to help control costs, labor, supplies, and more. Produce reports when you want to compare actual to budget or need to know:
- Did the bank deposit match sales from the POS system at each location?
- What are the sales by location, grouped by state?
- How much sales by item groups in a single location? By all locations?
- What was the cash over/short amount?
- Are all credit card charges processing correctly so you get paid?
- Are expenses in line – from supplies to labor – at each location based on expected margins?
- Restaurant Specific Chart of Accounts
- Predefined Analytical Reporting and Metrics to better manage your restaurants
- Alerts notify management by e-mail for cash over/short above company tolerance level, accounts receivable past due alerts, cash balance alerts and more
- Budget templates for use by field management
- Automation of Payroll vendor payables. No rekeying
- Standard payroll processing allows you to have full in house control over payroll with detailed posting information. Payroll Direct Deposit, garnishments, employee deductions can all be handled. There is even tax filing assistance for in house payroll.
Learn more about how Kianoff & Associates can help with Payroll and business accounting systems.
- Proven Restaurant Specific Implementation Methodology
- Expert training and Best Practices setups give you multi views of the system information and improve ramp up time.
- Work Flow task reminders with management alerts for past due tasks
- Direct integration with your Point of Sales (POS) System and Back of House available, no rekeying of information
- Capture of desired industry metrics from the POS and Back of House.
- Secure access to protect your data
- Check fraud prevention
- Track Maintenance and Repair costs
- Labor Monitoring, analysis and compliance
- Tip Allocations
- Delivery can be on premise, hosted in the cloud, SaaS cloud or a hybrid. This is based on your business needs.
Food For Thought: Key Financial Metrics To Manage Profitability
Relevant restaurant accounting systems and Financial Reporting is a must for multi-location restaurant and hospitality businesses.
Your financial statements are where you bring together vital needed data, both revenue and full expenses, allowing you to see the true profitability of your hospitality business. Financial reports can be used by more than just accounting and are often an underused source of vital business information. If you are just using basic Financial Statements or creating/recreating your reports Excel, you are missing out on vital restaurant business intelligence.
To make sound financial decisions, restaurants and hospitality businesses need more than just the revenue centric view from their Point of Sale, Back of House or Above Store systems. You must be able to analyze revenue and combine it with related costs to understand true profitability by relevant business segments such as location, concept, entity, territory or more. You need this depth of restaurant business intelligence for making vital decisions and managing the business. Our restaurant accounting software allows you to present reports in one format for the bank or investors, one way for company owners and another for area managers. Each gets to see the restaurant business intelligence and accounting data personalized to their need.
Kianoff's restaurant accounting systems provide additional insight from factoring into financial reports, non-financial data, giving you new lenses to analyze your financials:
- Number of Full Time Employees (FTE) – revenue or expense per FTE
- Number of locations – revenue or expense per location
- Square footage – expenses per square foot
Restaurant accounting systems can also allocate expenses and/or revenue based on static information such as square footage or a variable number such as FTEs.
It’s your business and you want to know what’s going on. You need restaurant business intelligence with financial reports that are accurate and comprehensive so that your Area Managers, Store Managers and Corporate personnel gain the business insights and visibility they need to make better decisions and drive performance.
At Kianoff our restaurant accounting systems match up with the business thinking from our team of CPAs, accountants and consultants. We are accountants who understand fiscal periods reporting, best practices for account formats, to accommodate varied reporting needs and when you need posting, unit and/or allocation accounts. And, we know how and where to access the information you want because we know all the tables and fields in the system.
Company founder and President Lisa Kianoff, CPA.CITP, CGMA, has always focused on the value of strong financial reporting as essential to the decision makers’ ability to manage their business. Since 1986 our team has followed that lead, creating financial reports that provide real value, and putting them in the hands of people who can use them most effectively. Financial Report Writing remains one of the top strengths of our skilled CPAs and accountants in our Consulting Services Department.
As a restaurant, you’ll want to consider Kianoff’s Best Practices for Financial Reporting that keeps the focus on important areas like profitable services and cash flow. Our restaurant business intelligence gives you well-constructed financials and insights into:
- Who is most productive?
- Where is the profit?
- How is your cash flow?
- How are you doing as compared to budget?
- What does the food mix look like?
- What territories or locations are most profitable? Least profitable?
- How profitable are departments, such as catering
- Managing and analyzing labor costs
- Managing and tracking Fixed Assets
- The bottom line for consolidated financial information across entities based on ownership.
Restaurant Business Intelligence provides Financial Reports with what you need to know:
- Flash Report: Weekly snapshot of sales, food costs, labor costs, comps
- Unit side-by-side comparison Income Statement: Detail & Summary
- Rolling Quarter Income Statement: Detail & Summary Income Plus Unit Detail
- Detailed Income Statement: by Unit, State, Total, current period and YTD
- Summary Income Statement by Unit, State, Total, current period and YTD
- Comparable Income by Unit
- Detailed Income Statement: by Unit, State, Total, Actual vs Budget, current and YTD
- Summary Income Statement: by Unit, State, Total, Actual vs Budget, current and YTD
- Balance Sheet with Comparisons
Your financial reports are the keys to valuable restaurant intelligence that consolidates and analyzes valuable data from all areas of your business.
To learn more, ask Steve to share with you what Kianoff has done with financial reporting for health care organizations.
Key to Success: Hospitality & Restaurant Business Intelligence
Serve Yourself With BI: The Key Ingredient to Increase Same-Store Sales
Our hospitality and restaurant business acounting systems provide access to critical revenue and operational information allowing data to be used for insight about the business side of your hospitality group. From a central source of store revenue cycle knowledge, you get Key Performance Indicator dashboards you can filter by location, territory or look at benchmark tracking and performance comparison by location or product mix.
One of the most essential elements of strong accounting and reporting capability is the ability to measure the value of the restaurant group. We help you do that by:
- Defining revenue centers. This may be individual stores, or in larger groups, also split between restaurant concepts or territories. View information by concept, unit, territory, food groups, revenue per employee, compare to budget and more. Reports when you want them.
- Defining cost centers. These don’t contribute income, but are critical to your business, such as building maintenance. You can slice and dice operational information with preformatted reports, Vendor Usage analysis reports and capture & control food usage, food costs and item sales
- Defining the services you provide and assigning them to a revenue center
- Allocating costs to service centers and profit centers. How we do this is critical:
- Your business management and accounting system is already capturing data, we show you how transform it into meaningful and useful information for business purposes.
- Business Intelligence makes interpreting voluminous data more friendly, which makes it clearer how to take advantage of new opportunities and plan for the long-term.
- Reduce the need for your staff to export and compile numerous Excel spreadsheets for analysis. Get easy visibility to what you need directly in your ERP system. Get vital labor analysis from payroll.
Hospitality and Restaurant Accounting System's Dashboards for easy visibility to vital metrics:
Business accounting system's dashboard “views” of your data can be user specific and let you combine the revenue and operational information from your POS, Back of House and Above Store system to your corporate accounting to gain valuable insights into:
- Cash positions
- Enhanced cost control
- What locations or territories or concepts are most productive?
- What does your product mix look like?
- What products or services are most profitable? Least profitable?
- Separately track department revenue streams such as food, beverage, catering etc.
- Labor expenses by store, by employee, by hours of operations and more. Analyze of labor costs provides the data to manage this significant operating expense.
CFO Advisors Now Available to Kianoff Clients
Kianoff & Associates has teamed up with CFO Advisors to offer Rapid Fire® their interactive, cloud based, business intelligence system. It captures business data from any available source, allowing users to analyze and trend all of their company’s data – including non-financial data - from anywhere, at any-time.
- When integrated with Intacct, CFO Rapid Fire offers a way of seeing, reading and interpreting financial statements, and allowing users to view any time period, in any format, for any account.
- Drill downs allow you to further refine and extend the reach to other areas of your business, using the reporting to track and trend side by side periods, quarters, and years.
- Tap into broad functionality to marry trends with other data sources.
CFO Rapid Fire can be a useful tool for clients who want to analyze and trend financial data with other operational data. Now it can be easy for companies to pull data from multiple sources – such as Intacct, payroll, POS, purchasing – into one system for analysis and reporting.
Learn more about Rapid Fire
Today you have some terrific choices among BI tools that will produce the reports, dashboards and alerts that will keep on top of your business. As we understand the finer parts of your business, we’ll be better positioned to make recommendations. As a restaurant or hospitality business, you’ll want to consider Kianoff’s Best Practices for Business Intelligence that keeps the focus on important areas like cost per employee and cash flow. This includes regularly using a myriad of employee, store management, vendor and operational reports.