Podcasts by The Tip Share

Tip Pooling Calculator from 2023-08-07T13:55:59

Discover the power of a Tip Pooling Calculator, designed to streamline fair distribution of tips among restaurant employees.  

Using a Tip Pooling Calculator ensures consisten...

How to Create a Balance Sheet for Small Business from 2023-07-31T14:00

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 fi...

Profit Margin Calculator for Restaurants from 2023-07-24T14:00

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...

Restaurant Produce Ordering Guide from 2023-07-17T14:00

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'l...

Budget Friendly Restaurant Events & Promotion for Summer from 2023-07-03T14:00

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...

Restaurant Produce Storage Guide from 2023-06-12T14:00:57

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 stora...

How To Calculate California Restaurant Tax from 2023-05-08T17:34:42

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 dis...

Complete Guide on Restaurant Taxes for Managers/Owners from 2023-05-02T15:28:10

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 unnec...

What Restaurant Owners/Managers Should Know About Tips from 2023-04-17T14:36:28

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 ...

How to Buy a Restaurant: Everything You Need to Know, Financially from 2023-04-10T14:25:28

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&#...

8 Benefits of Restaurants Using Payroll Management Technology from 2023-03-27T14:36:33

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 reduci...

Optimizing Restaurant Payroll Percentage from 2023-03-20T14:00:52

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 soun...

Comprehensive Checklist for Running Payroll from 2023-03-13T14:10:26

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 ...

Complete Guide on How to Do Payroll for Restaurants from 2023-03-06T23:12:40

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 p...

When and How to Switch Your Restaurant Payroll Software from 2023-02-27T14:52:57

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 technolo...

Restaurant Business & Startup Loans - Complete Guide from 2023-02-13T15:06

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, includ...

How to Record Tips in Accounting from 2022-04-18T16:30:02

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 pay...

How Do Restaurants Use Data Analytics? from 2022-04-04T14:04:44

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,...

How to Turn Your Restaurant Analytics into Profitable Business Intelligence from 2022-03-28T14:21:54

Today, innovative restaurants are using business intelligence to drive operational efficiencies, improve profitability, and reduce managerial burdens. How do they do it?   The clearest...

Restaurant Sales Forecast with POS Data from 2022-03-21T13:00

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 o...

What is a Chart of Accounts for a Restaurant? from 2022-03-14T13:49:01

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 ...

Why Your POS System and Accounting Software Need to Be Integrated from 2022-03-07T13:53:22

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 p...

The Best Tips for Strategic Vendor Management from 2022-02-28T14:00

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...

What to Consider When Setting Up Payroll for Your Restaurant from 2022-02-21T15:00

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 payi...

How Do You Categorize Restaurant Expenses from 2022-02-14T19:00

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...

How Do Small Business Restaurants Make a Profit? from 2022-01-31T18:00

One of the most critical metrics to understand and track as a restaurant operator is your restaurant profit margin. Simply put, to remain in business, you need to understand your margins and eve...

Smart Budgeting: The Key Ingredient to Any Restaurant’s Success from 2022-01-24T15:00

Whether you’re opening a new restaurant or trying to streamline your existing eatery’s operations, there’s one thing you must optimize before anything else: your restaurant operating budget.

How To Automate Your Accounts Payable Process from 2021-12-13T14:00

Modern restaurants depend on various integrated technology for an increasingly large portion of their business processes. From POS systems to digital pay cards and HRIS solutions to data managem...

Why You Shouldn't Ignore Payroll Compliance And How To Make It Painless! from 2021-12-06T15:00

Payroll is one of the most critical aspects of any business. Properly paying your team creates trust, longevity of employment, and assists in avoiding costly payroll compliance issues. During th...

The 2020 Tip Final Rule: 80/20 Guidance & Dual Jobs from 2021-11-29T14:00

Since 1967, the Department of Labor's Dual Jobs Regulation has stated that an employee may be employed in both a tipped and a non-tipped occupation simultaneously. Learn about the newest updates...

Easy Tips To Understand How To Properly Read Your Balance Sheet from 2021-11-22T16:00

A restaurant Balance Sheet is the most important financial statement an operator has. If the Balance Sheet is not in line and accurate, then there is no question that the Listen

Unbeatable Prime Cost Control Strategies To Increase Your Profits in 2022 from 2021-11-15T14:00

Now is a great time of year for operators to look back at their prime costs and determine where they can increase efficiencies and decrease costs in 2022.

Listen

How To Choose The Best Accounting Service For Your Restaurant or Bar from 2021-11-08T14:00

During this episode of The Tip Share, the RASI Education Team helps hospitality owners and operators discover the top 4 guidelines that will help ensure they're on the right path to finding the ...

Understanding The Function Of Your Restaurant's Cash Flow Statement from 2021-11-01T13:00

The Cash Flow Statement represents how the Balance Sheet and P&L work together to have an impact on your cash and operating accounts. It is designed to show you where your cash is coming fro...

DOL Final Rule - Federal Protection for Tipped Employees from 2021-10-25T13:00

The Department of Labor has modified the 2020 Tip Final Rule. During this episode of The Tip Share, the RASI Compliance team dives into federal protection for tipped employees. 

Watc...

Top 9 Restaurant Accounting Terms You Need To Know from 2021-10-18T13:00

Restaurant accounting terminology to busy restaurant owners is akin to a Doctor’s vocabulary to the average Joe. Not everyone speaks the language. However, understanding it is paramount to manag...

Top 5 Strategies Restaurant Owners Should Use To Reduce Impacts of Supply Chain Issues from 2021-10-11T13:00

The restaurant industry is facing major impacts from COVID with issues in the supply chain. The issues begin all the way at the top; from the growers/farmers facing labor challenges. It then tra...

Top Restaurant Accounting Tips: Closing Out Notes Payable from 2021-10-04T13:00

Successfully closing out a period starts the domino effect for proactively operating a restaurant versus missed opportunities in the following periods. The purpose of the Period End Financi...

Everything You Need To Know About The EIDL Program Updates from 2021-09-27T13:00

On September 8th, the SBA announced massive changes to the COVID-19 Economic Injury Disaster Loans...

Use These 5 Tools to Increase Restaurant Revenue in 2021 and Beyond from 2021-09-20T13:00

While creative marketing strategies and honing in on profitable menu items may support r...

Use These 5 Tools to Increase Restaurant Revenue in 2022 and Beyond from 2021-09-20T13:00

While creative marketing strategies and honing in on profitable menu items may support r...

Top Restaurant Food Cost Management Tips: How To Use A Declining Budget from 2021-09-13T13:00

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 stabilizin...

Top Restaurant Accounting Tips: Closing Out Vendor Payables & Credit Card Liabilities from 2021-09-06T13:00

Successfully closing out a period starts the domino effect for proactively operating a restaurant versus missed opportunities in the following periods. The purpose of the Period End Financial Cl...

Pandemic Relief Resources for The Restaurant Operator from 2021-08-30T13:00

During this week's episode of The Tip Share, RASI Compliance Director, Brian Smith, breaks down available pandemic relief into bite-sized bits so operators can easily understand what's available...

Restaurant Hiring: Navigating the Labor Shortage featuring RASI Partner, 7shifts from 2021-08-23T13:00

If you’re having trouble finding great people to work in your restaurant, you’re not alone.

There’s a labor shortage impacting the restaurant industry, made tougher by the pandemic. But t...

How Accounting Period End Reviews Can Set Your Restaurant Up For Financial Success from 2021-08-16T15:45:57

A consistent Period End Review process is an essential component to a restaurant's financial success. Period End Reviews allow operators to review metrics and identify areas of opportunity with ...

Top Restaurant Accounting Tips: Closing Out Capital Expenditures & Preopening Expenses from 2021-08-09T13:00

Successfully closing out a period starts the domino effect for proactively operating a restaurant versus missed opportunities in the following periods. The purpose of the Period End Financi...

Restaurant Revitalization Fund (RRF) Updates from 2021-07-26T13:00

While Congress created the Restaurant Revitalization Fund to provide relief to restaurants, a business sector extremely hard-hit by government-imposed shutdowns and other restrictions related to...

How To Accurately Calculate Liquor Cost in Your Restaurant or Bar from 2021-07-19T13:00

Understanding your restaurant's COGS (cost of goods or cost of sales - the cost of the goods you purchase and utilize to create revenue), is the key to success for every well-run restaurant. As ...

3 Reasons Why Restaurants Need To Use Hospitality Accountants To Improve Their Financial Results from 2021-07-12T13:00

Covid has changed the restaurant industry for the long haul. The harsh financial impact caused by the global pandemic has created the immediate need for financial accounting from professionals w...

Top Restaurant Accounting Tips: Closing Out A/R & House Account Balances from 2021-07-06T13:00

Successfully closing out a period starts the domino effect for proactively operating a restaurant versus missed opportunities in the following periods. The purpose of the Listen

Year-End Restaurant Treasury Focus: CARES Act Changes & NOL Carrybacks from 2021-06-28T13:00

Many businesses struggled to turn out a profit or even mitigate losses throughout 2020. Fortunately, there were various articles of legislation passed within the last year that can help business...

Restaurant Cash Flow Tips To Ensure Financial Stability from 2021-06-21T13:00

The Cash Flow Statement is one of the most important indicators of the health of your business, yet it's often overshadowed by its counterparts, the P&L, and the Balance Sheet. During this e...

Top Restaurant Accounting Tips: Closing Out Gift Cards & Catering Deposits For Period End from 2021-06-16T15:04:38

Successfully closing out a period can start the domino effect for proactively operating a restaurant versus missed opportunities for the following periods. The purpose of the Listen

Why Your Restaurant Should Market Valuable Business Meal Write-Offs from 2021-05-28T23:01:46

The IRS has recently provided guidance covering The Taxpayer Certainty And Disaster Tax Relief Act of 2020. The new legislation allows for a temporary 100% tax deduction for business meal expens...

Is Your Restaurant Missing Out On Beneficial Tax Credits? from 2021-05-24T14:24:50

Over the last year, we've seen a number of government programs designed to assist the restaurant industry with grants and loans. For many years prior, however, there's been an offering of tax cr...

3 Easy Steps To Achieve Operational Efficiency from 2021-05-17T13:00

Considering the uncertainty of the past year and the unprecedented changes that the hospitality industry has undergone due to the pandemic, we’ve continuously focused on the detailed specifics o...

4 Easy Steps To Effective Restaurant Accounting from 2021-05-17T13:00

With the craziness of the past year and the unprecedented changes the industry has undergone due to the pandemic, we typically have focused on the detailed specifics of restaurant accounting Bes...

Restaurant Accounting Tips: How To Audit Due To/From Accounts from 2021-05-05T17:58:57

Successfully closing out a period can start the domino effect for proactively operating a restaurant versus missed opportunities for the following periods. The purpose of the Listen

Restaurant Tax Credits In The American Rescue Plan Act from 2021-05-03T13:44:26

The American Rescue Plan Act of 2021 (ARPA) is an Emergency Legislative Package to Fund Vaccinations, Provide Immediate, Direct Relief to Families Bearing the Brunt of the COVID-19 Crisis, and S...

Sustainability & The Restaurant Industry - What Can You Do To Help? from 2021-04-26T16:02:04

As we recently passed another trip around the sun to celebrate the 51st Anniversary of Earth Day, it got us thinking: What can we do in the restaurant industry to help the efforts now, and in th...

Best Practices To Close Out Tips & House Bank For A Favorable Period End from 2021-04-19T13:00

Successfully closing out a period can start the domino effect for proactively operating a restaurant versus missed opportunities for the following periods. The purpose of the Period End Financia...

6 Ways To Build Better Budgeting Strategies For Summertime Success from 2021-04-12T13:00

You’ve made your budget for 2021, but Q1 is over and now it’s time to adjust and tweak as you’ve seen your results. Summer is nearing and encouraging news is hitting the nation with Covid vaccin...

PPP Changes & The Definition Of Non-Payroll Expenses from 2021-04-05T15:00

The Economic Aid Act, which was part of the Consolidated Appropriations Act, expanded the definition of non-payroll expenses that are eligible for PPP forgiveness to include operations expen...