The 10 Best Restaurant Accounting Software Options to Help Streamline Operations

Running a sizable restaurant operation with several locations requires a lot of resources. When it comes to managing your financial records, accounting software for restaurants is an important tool to leverage.

Using the best option for your restaurant and your unique needs means you're going to be working closely with your provider. And with the average restaurant profit margin being thin — between three and five percent for full service restaurants — managing accounting is vital to the success and growth of your restaurant organization.

Let’s dive into how to find the best accounting software for your restaurant and review some of the best options in the market.

What Is Restaurant Accounting Software?

Restaurant accounting software is a specialized solution designed to cater to the unique financial needs and operational complexities of restaurants. Most accounting software options handle various tasks such as:

• Sales tracking
• Inventory management
• Payroll
• Tax compliance

These helpful features streamline the financial operations of a restaurant, while reducing risk of costly errors that could lead to inaccurate financial records.

Additionally, these kinds of software free up valuable time for restaurant owners and managers so they can focus on the most important aspects of the business, like providing excellent customer service, developing and improving their menus, and other areas that directly contribute to the growth and profitability of the business.

The reporting features within restaurant accounting software are also helpful in delivering data visualizations that enable managers to spot trends in the financial health of the business and make data driven decisions that support the growth goals of the organization.

What to Look for When Comparing Restaurant Accounting Software Solutions

When shopping for restaurant accounting software, it can be overwhelming and even confusing if you're not well versed in how these solutions operate. There are many excellent accounting software systems out there, and they all pretty much do the same thing — manage and control your accounting methods and generate financial statements and metrics.

But not all restaurant accounting solutions are equally as valuable for your business. Consider the following features when you're shopping for the best accounting software for restaurants.

Inventory Management

The software should have the ability to track ingredients and supplies, monitor levels of stock, and alert you when inventory is low. Managing inventory levels helps reduce costs and optimize profitability.

Payroll Integration

Accounting solutions can often handle staff hours, wages, tips, and other compensation elements seamlessly to ensure that managing payroll across your restaurant locations is easy.

Sales Tracking

Most solutions can track daily sales and integrate easily with your point of sale (POS) system.

Tax Compliance

Accounting software options should be able to handle tax calculations and generate necessary tax reports.

Financial Reporting

The software should provide comprehensive financial reports, including profit and loss statements, balance sheets, and cash flow statements.

Ease of Use

User friendliness is important. You want a positive experience navigating the user interface of your restaurant accounting system. 

Scalability

Depending on the solution you choose, the platform should include tiers with different features for each level. This way, as you grow, you can simply upgrade your package to unlock the additional tools or features you may need. 

Support and Training

Look for solutions that offer excellent customer support and ample training resources.

Integration Capabilities

The software should seamlessly integrate with other systems you're currently using.

Cost

The software should be cost-effective and show a clear return on investment (ROI). When you're evaluating your options, look for case studies and customer testimonials to see how end users are benefitting from the accounting software. 

Remember, the best software solution will depend largely on your specific needs and the size of your restaurant operations.

The Best Accounting Software for Restaurants 

With so many accounting software solutions to choose from, it's difficult to know where to start. We compiled this list of highly rated software options that are used by our CrunchTime customers. 

1. Infor

Infor builds complete industry suites in the cloud and efficiently deploys technology that puts the user experience first, leverages data science, and integrates easily into existing systems.

2. Intuit Quickbooks

Intuit Quickbooks doesn't expect you to be an accounting expert. That's why Quickbooks keeps everything organized and in one place.

3. Microsoft Dynamics Great Plains

Microsoft Dynamics Great Plains brings greater control over your financials, inventory, and operations with Dynamics GP, a business management solution for small and medium-sized businesses that goes beyond accounting software.

4. Oracle Financials

Oracle Financials brings disparate accounting systems together into your primary general ledger for a single source of truth, consistently enforcing accounting policies and achieving complete and timely insight.

5. Oracle JD Edwards

Oracle JD Edwards World General Ledger Accounting provides a flexible foundation for your financial operations that streamlines processes and enables you to respond quickly to change. Easily organize, maintain, record, and analyze financial information.

6. Oracle Netsuite

Oracle Netsuite is used by thousands of organizations worldwide. NetSuite's financial management solution expedites daily financial transactions, accelerates the financial close, and ensures compliance.

7. Sage Accounting

Sage Accounting empowers America's small businesses. Free yourself from admin with clever, easy features, built around you.

9. SAP

SAP runs fast, accurate, and automated closing processes – and simplifies accounting for global operations. Their financial close and accounting software systems can help you streamline everything from financial consolidation to compliance reporting and audits.

Workday Financial Management provides robust finance and accounting capabilities, real-time business insight, and always-on audit and internal controls.