A restaurant cannot operate successfully without a way of consistently recording and analyzing its financials. Leveraging a good accounting software will help you implement these tasks in the most efficient and sustainable way. Below are the main functions that your accounting software should provide at the very minimum.

While the vast majority of accounting softwares perform these tasks to some extent, not all accomplish them as efficiently or effectively. As such, below are some of the main elements to consider when choosing the best accounting software.

1. AccessibilityYou ideally want an accounting software that can be accessed as much as possible on your laptop or smartphone. This means having the capability of being functional both online and offline. Most, if not all, of the major accounting softwares provide both online and offline access or have an option to obtain it.

2. AccuracyThe more accurate your accounting software, the more confidence you will have in making particular business decisions. In addition to accuracy in recording daily transactions, make sure to also examine the accuracy in identifying performance metrics and generating analytical reports.

3. User InterfaceA comfortable and easy-to-use user interface is extremely important, especially when involving tedious accounting work. Keeping track of all your transactions is already a complex task, so the last thing you want is an accounting software that adds additional complexity. Make sure to leverage free trials or request one if not available as it will help you preview or get accustomed to various user interfaces before fully committing to one.

4. Customization / AdaptabilityOne of the main things you should consider is whether the accounting software you are considering is customized towards or easily adaptable to restaurant specific operations. In other words, the accounting software you choose should be able to calculate and analyze key performance metrics that are specific to restaurants (e.g. Prime Costs). 

5. IntegrationOne of the best ways to ensure you are streamlining data entry as efficiently as possible is by choosing an accounting software with the capability of seamlessly integrating with your POS system. If not possible, you can work around this by using a third-party application (e.g. enterprise resource planning (ERP) solutions) that integrates your accounting software with your POS system. In either case, you always want to make sure you can automate the flow of information from your POS system to your accounting software.