QSR / Franchise Accounting Services
Quick service restaurants (also known as QSRs) and franchises have unique demands related to their accounting practices. Unlike an individual fine dining establishment, or a small collection of casual dining eateries, QSRs require a specialized type of franchise accounting service – and RASI has a complete suite of services specifically designed to help your restaurants navigate this challenging business landscape!
Three key facets of QSR growth
QSRs and franchises have enjoyed relatively strong growth over the past few years. Those restaurants that have recognized the three key facets of QSR growth – financial growth, acquisition growth, and brand diversification – are particularly well-suited to keep the ball rolling forward in the years to come.
But even in this relatively recession-proof business climate, it still helps to have the optimal franchise accounting services for your restaurant. Since QSRs and franchise restaurants have considerable POS data and labor costs to track, an integrated & automated approach is a great way to ensure your restaurant franchise accounting services are up to the task.
Let’s explore some different elements related to finding the right franchise accounting services for your restaurant, starting with one of the most critical factors; labor management.
QSR & Franchise Labor Management
Some QSRs and franchise restaurants have thousands of employees. It’s difficult enough tracking and staying compliant with a single restaurant, given the ever-changing tax laws and labor reporting requirements.
Labor costs for QSR & franchise restaurants normally account for nearly a third of overall business costs. An automated and integrated restaurant franchise accounting service like RASI helps you manage this challenging aspect with relative ease. Payroll and compliance are major concerns for these types of restaurants.
Thanks to RASI’s tech-savvy franchise accounting services for your restaurant, you’ll enjoy reduced IT expenses, enjoy superior time management (with the ability to focus resources on other pressing tasks), reduce human error and completely streamline your restaurant franchise accounting services.
Other Important Factors in QSR & Franchise Accounting Services for Your Restaurant
Beyond labor costs, there are other factors to weigh in choosing a restaurant franchise accounting service. Here are just some of the different categories QSR & franchises need to be concerned with:
// FINANCIAL ACCOUNTING
RASI’s financial accounting services include working with your team to record, summarize, and report on the multitude of transactions resulting from restaurant operations over time. These transactions are summarized within your business’s financial statements, including the Balance Sheet, P&L, and Statement of Cash Flow, which highlight your restaurant’s operational performance over a specified period.
// COMPLIANCE OVERSIGHT
// BALANCE SHEET AND OPERATIONAL REVIEWS
Balance Sheet and Operational Financial Reviews aid in identifying latent weaknesses within your restaurant and assist in pinpointing areas within the business to capitalize on. Proactive operators can utilize these reviews to streamline processes, saving costs, and engage their management teams!
“ We realized we had a need to learn how to handle our business from a financial perspective and RASI helped us get to where we are. We now have more immediate control and understanding of our financial position.
“ We realized we had a need to learn how to handle our business from a financial perspective and RASI helped us get to where we are. We now have more immediate control and understanding of our financial position.
// DAILY & WEEKLY CASH REPORTING
Using RASI’s Cash Management Platform, QSR and franchise operators can receive daily/weekly expense and deposit reconciliations, keeping a constant eye on your restaurant’s cash flow. Understanding your true cash position ensures you remain proactive and avoid any possible avoid bank fines or penalties!
// ACCURATE BUDGETING
// METRIC MANAGEMENT & GOAL SETTING
Where is your QSR or franchise headed? What does the immediate and long-term future look like? With a solid grasp of the metrics associated with your franchise accounting service, you’re better equipped to make educated business decisions based on real-time data. The ability to harness powerful information is only as strong as the franchise accounting services for your restaurant!
Why RASI?
14%
First year RASI client increase in NET Profit
16%
RASI clients opening new restaurants
22%
Expanded RASI client rooftops
91%
First year restaurant RASI client success rate
Why RASI?
14%
First year RASI client increase in NET Profit
16%
Existing RASI clients opening new restaurants
22%
Expanded RASI client rooftops
91%
First year restaurant RASI client success rate