FIXE Communal Table

Restaurant tipping best practices and accounting - Get My FIXE

Ryan — Wed, 16 Jul 2025 10:00:00 GMT

People ask me all the time, “how do I account for tips?” To get a handle on restaurant tipping, start by recording all tips on everyone’s paychecks. Employees used to ask me not to put tips on their paychecks because they didn’t want it to get taxed, but you should. I’ve seen too many restaurants get audited or penalized for not reporting tips. The IRS leaves it up to each employee to declare cash tips that they’ve earned to their employer. However, the restaurant typically receives the bulk of tips through credit and debit card sales and then reallocates those to their employees.

Choosing the right restaurant location - Get My FIXE

Ryan — Wed, 02 Jul 2025 10:00:00 GMT

Choosing the right restaurant location can make or break your business. To help ensure you don’t start from a deficit, here are some tips I learned from running my own restaurants for the past 20+ years.

Navigating the restaurant permitting process - Get My FIXE

Ryan — Wed, 25 Jun 2025 10:00:00 GMT

You need to secure many different permits before opening a restaurant. I have a degree in Hospitality and Restaurant Finance, but didn’t learn how to navigate the permitting process in college. I didn’t even learn it when I worked as General Manager for The Daily Grill, an established L.A. based restaurant group. I learned by opening restaurants. This overview will help you avoid expensive delays and pitfalls.

Restaurant payroll companies pros and cons - Get My FIXE

Ryan — Wed, 04 Jun 2025 13:45:00 GMT

Old school payroll companies charge you every time you process payroll. If you run payroll every two weeks, they bill you every two weeks. Every time you want to do an off-cycle payroll – like if you fire somebody or make a mistake – they charge you extra.

Negotiating with third party delivery apps and accounting for sales - Get My FIXE

Ryan — Fri, 23 May 2025 09:00:00 GMT

Many restaurant operators have frowned upon using third party apps for delivery and pickup. These apps take commissions, but they’re part of doing business today, and if you’re not on them, especially as a fast casual restaurant, you’re losing out on revenue. It’s naive to think people are just going to order from your website or find you that way. That’s not true nowadays. Most people who search for restaurants on their devices go straight to DoorDash, Uber Eats, or another third party app. They’re very rarely going to the restaurant website first. The dining landscape has changed significantly as a result.

How do I know if my restaurant bookkeeper is doing a good job? - Get My FIXE

Ryan — Wed, 14 May 2025 09:00:00 GMT

People ask me all the time, “What does a restaurant bookkeeper do?” We aggregate information correctly so that you or your CPA can act on it. We take data points – your POS system, bank transactions, payroll, etc. – and put them together into reports so you can see how your business is performing. We help restaurants stay organized. We also pay bills.

When Do I Need a CFO or Controller For My Restaurant? - FIXE

Ryan — Tue, 22 Apr 2025 10:00:48 GMT

Depending on how comfortable you are and how your operations are set up, a single restaurant probably doesn’t need a Controller or a Director of Finance, especially if you’re using FIXE. FIXE does a good job of providing and outlining your financials. We make sure that the information is going into the right buckets, that you understand everything, and that we’re all on the same page.

How do I know if my Profit & Loss statement is accurate? - Get My FIXE

Ryan — Tue, 15 Apr 2025 09:00:26 GMT

We train our Account Managers to review Profit & Loss statements to ensure accuracy. Here are a few tricks of the trade that I would encourage any of our clients to do as well, to verify everything looks correct.

Accounts Payable Platform Pros and Cons - Get My FIXE

Ryan — Wed, 09 Apr 2025 08:30:00 GMT

When we started FIXE, Accounts Payable (AP) automation was fairly new. BILL (fka Bill.com) was the most popular platform, but some restaurant specific platforms were starting to gain traction. Craftable, MarketMan, xtraCHEF, Restaurant365, Plate IQ (now Ottimate), and MarginEdge all have different bells and whistles. These Accounts Payable platforms all do one thing at their core: photograph an invoice, categorize it, and pay those vendors. Which companies are the best at this?

Tips For Choosing a Restaurant Tech Stack - Get My FIXE

Ryan — Wed, 05 Feb 2025 09:00:00 GMT

A tech stack is the set of softwares you need to seamlessly run your business. How do you choose the right tech stack for your restaurant? When you’re talking to different software companies, be very clear on how they integrate with QuickBooks Online and other softwares you use. Is the integration a file transfer or CSV file that has to be uploaded and reformatted? That’s not true integration. Make sure each software has direct integration. If it doesn’t, that can end up being more of a hassle and harder to use than just manually typing data in yourself.

FIXE Team Member Spotlight: Matt Greenberg - Get My FIXE

FIXE — Wed, 29 Jan 2025 09:00:00 GMT

From Restaurant Operations to Restaurant Technology: Leading FIXE’s Sales Growth

Which Financial Reports Help Explain My Restaurant Business?

Ryan — Wed, 22 Jan 2025 09:00:23 GMT

When you learn about accounting in college, three main documents provide the complete picture of your business. These statements tie together to tell your entire financial story.

How FIXE Restaurant Bookkeeping Works For Franchises - Get My FIXE

Ryan — Wed, 15 Jan 2025 09:00:36 GMT

In a relationship with a franchisor, a franchisee has to be able to run their own business. In doing so, they must be able to do their own accounting. The franchisor shouldn’t be able to dictate who does the books at franchises, because it’s overstepping the relationship.

FIXE Team Member Spotlight: Kris Middleton-Kearns - Get My FIXE

FIXE — Wed, 18 Dec 2024 10:00:45 GMT

Kris Middleton-Kearns, who is known within the FIXE community as Kris Kay, was born and raised in San Diego. She earned her certificate in accounting from Foothills Adult School, and completed general accounting and managerial accounting at Cuyamaca College. Kris handled Accounts Receivable for a fire protection company, assisted with in-house bookkeeping while also being a server for a burger restaurant, and worked on the financial side of the pawn shop industry for seven years. She found out about FIXE through Veronica Delgado, a close friend and fellow Account Manager that she met in a previous job. Kris relocated to Las Vegas in 2022, not long after joining FIXE. Learn more about her FIXE journey and how she helps restaurant clients grow their businesses.

Restaurant Finance & Development Conference Takeaways

Ryan — Mon, 09 Dec 2024 09:00:09 GMT

Restaurant Finance Monitor hosted their annual Restaurant Finance & Development Conference from November 11-13 at the Fontainebleau Las Vegas hotel. I attended RFDC the past two years, getting the lay of the land, meeting with software companies and building relationships. This was our first year having a FIXE booth, which makes a big difference.

FIXE Multi-Entity Reporting Is A Bookkeeping Game-Changer

Ryan — Thu, 05 Dec 2024 13:00:29 GMT

The FIXE dashboard now features custom, multi-unit comparative reporting, a powerful resource to make better informed, more timely business decisions. Restaurant groups can compare financials from up to 5 restaurants on one screen. Just select the locations, date ranges and categories you like. See exactly where you stand and find areas to improve.

FIXE Team Member Spotlight: Mariana Martinez - Get My FIXE

FIXE — Wed, 13 Nov 2024 08:45:49 GMT

Mariana Martinez is a dedicated FIXE Account Manager based in Nicaragua. She grew up in the Spanish colonial town of León, and 25 years ago, her family moved to Managua, the country’s bustling capital, where she has lived ever since. With a degree in Management and International Business from Thomas More University in Managua, Mariana brings a strong foundation in business to her role at FIXE.

How is my restaurant doing with sales and efficiency? - Get My FIXE

Ryan — Wed, 30 Oct 2024 07:18:35 GMT

Which sales metrics and efficiencies should restaurants focus on to determine whether they’re succeeding in business? I’ve identified some metrics that all restaurants should want to live by.

FIXE Team Member Spotlight: Nicoll Maligaya - Get My FIXE

FIXE — Wed, 16 Oct 2024 09:00:11 GMT

Nicoll Maligaya is a FIXE Senior Lead who lives in Cavite, a city that’s located south of Manila in the Philippines. She earned a Bachelor of Science degree in Business Administration and Accountancy from De La Salle University, majoring in Agribusiness Management. Before a relative connected her with FIXE in June 2022, Nicoll worked as a shift leader in a convenience store, where she tracked sales and created end of day reports. At FIXE, she has risen from an Assistant Account Manager to an Account Manager and now a Senior Lead. FIXE has also become a family business. Nicoll’s sister, husband, and husband’s cousin also work for FIXE.

How am I doing with my restaurant investment? - Get My FIXE

Ryan — Wed, 02 Oct 2024 07:17:25 GMT

How do people know if they’re making the right restaurant investment? Cash on cash return, sales per square foot, construction cost per square foot, and rent per square foot are the major metrics that you want to look at to see if your numbers make sense and if it’s going to be a reasonable, attainable investment.

Comparing Accrued vs. Incurred restaurant bookkeeping - Get My FIXE

Olivia — Wed, 18 Sep 2024 20:23:32 GMT

You are incurring expenses and recording them as the money leaves your bank account. Accrual spreads out expenses to make them more in touch with the period of time that expense covers, and less connected to the money that left your bank account that month. I prefer the word allocate while other people like amortize, but both terms are interchangeable with accrue.

Benefit from restaurant shows + California Restaurant Show

Ryan — Thu, 05 Sep 2024 21:12:21 GMT

It’s easy to get stuck in routines in the restaurant world. Plenty of resources are available online that enable us to keep working on remote islands. Sometimes, it’s worth pushing yourself to get out, explore, meet people, get different perspectives, and promote what you’re doing. Putting yourself out there is bound to benefit your business in different ways. That’s why I attend 3-4 restaurant shows per year with FIXE. We were at the Bar & Restaurant Expo in Las Vegas in March, appeared with Ottimate at the mammoth National Restaurant Association Show in Chicago in May, just participated in the California Restaurant Show in Los Angeles, and will be at the Restaurant Finance & Development Conference (RFDC) from November 11-13 in Las Vegas.

Demystifying restaurant sales misalignment - Get My FIXE

Olivia — Thu, 29 Aug 2024 22:37:37 GMT

Financials aren’t always as they appear on the surface. For our Communal Table blog, we previously discussed how sales and bank deposits are different. Sales numbers also don’t necessarily match up in platforms like QuickBooks Online (QBO) and Toast, which can cause confusion. In this case, that means understanding which line items correspond to each other.

Negotiate With Vendors to Maximize Operating Cash Flow

Ryan — Wed, 14 Aug 2024 19:44:05 GMT

Understanding Operating Cash Flow is an important part of succeeding in the restaurant business. OCF is the money that you have in the bank, minus any pending vendor or payroll payments (ACH or checks) that haven’t cleared yet, minus any upcoming sales tax liability.

Grow your restaurant business with QuickBooks Online and FIXE

Yogish — Thu, 25 Jul 2024 00:36:17 GMT

QuickBooks Online (QBO) is a widely recognized industry-standard software that small businesses use to efficiently manage their finances. It handles all the essential financial tasks that companies need both at startup and as they grow. With QBO, businesses can easily track their income and expenses. The software aggregates transactions from bank accounts and automatically reconciles them. Additionally, QBO categorizes various transactions and maps them to the appropriate Chart of Accounts for accurate accounting. At FIXE, we integrate QBO into our software suite to provide comprehensive financial management solutions for our clients.

Clean Up Past Financials For Consistency, Comparison + Taxes

Olivia — Wed, 10 Jul 2024 18:12:20 GMT

When new clients join FIXE, we offer them the opportunity to update their records from past months. We provide this service so their financial reporting is consistent for the current year and for tax filing purposes. Some clients go back up to 3 years to correct and categorize expenses. This process also gives clients the chance to compare historical data for their business.

COGS-Well's Bill Lindsey on Managing Restaurant Inventory

FIXE — Thu, 27 Jun 2024 19:41:19 GMT

Reno resident Bill Lindsey co-founded COGS-Well with longtime colleagues Dave Douglas, Glen Nelson and Mike Brown in 2019. The latest product from this serial entrepreneur integrates seamlessly with FIXE and is the latest stage in Lindsey’s 40-year journey to help restaurants get a better handle on inventory management.

Sales + Bank Deposits Are Different: Account For Tax, Tips + Fees

Olivia — Mon, 24 Jun 2024 19:54:11 GMT

A common point of confusion and frustration for business owners is the fact that their bank account balance seems completely misaligned with their Profit & Loss. I get calls all the time from distressed FIXE clients, and they say, “I don’t understand how I lost $30,000 last month when my bank account balance has been above $100,000 the whole month. What is going on?” There’s a lot more to your bank account balance and to your profitability. The two are somewhat related, but they’re different. This misunderstanding can lead to not having enough money in your account to function. Or to pay taxes.

National Restaurant Association Show Advice and Industry Trends

Ryan — Mon, 10 Jun 2024 17:13:45 GMT

I recently attended the annual National Restaurant Association Show at McCormick Place in Chicago, the biggest convention center in the U.S. with three buildings located right near Lake Michigan. This is the biggest industry gathering of the year. The show floor was massive, as large as 12 football fields, with over 2,000 exhibitors in categories like Equipment, Services, and Technology & Entertainment. If you’re a restaurateur and want to see everything available to you in one event, whether it’s technology or equipment or services or food, this is the show to go to for sure. FIXE joined Ottimate’s booth on Sunday, May 19. Two FIXE execs and I also scoured the floor for restaurant innovations and made important connections on Saturday and Monday.

Restaurant bookkeeping essentials: Financials vs. Statistics - Get My FIXE

Ryan — Thu, 16 May 2024 17:35:22 GMT

Running a restaurant is never easy, but there are ways to streamline your business. The staggering amount of financial data and statistics available could bury us, so it’s better to limit the scope to essential categories. Sometimes we get clients that like to overcomplicate things, which slows down the financial process. The truth is you want your financials to be as real time as possible, and as easily accessible as possible. By having too much information, the point of financials gets lost.