A restaurant’s day-to-day activities can often pile up quickly that owners and managers can also become easily overwhelmed with all their responsibilities. Without help, they will have a hard time managing all operations necessary for running an efficient dining establishment. Hiring additional employees is one way of easing the burdens resting on your shoulders as a restaurant owner. However, you can also ensure the smooth, well-organized operation of your establishment by investing in cutting-edge restaurant management software.

With a restaurant management system, you can simplify all tasks essential to running a successful establishment. You and your staff will find it easier to successfully manage all restaurant activities. You will also ensure your business will consistently operate efficiently thereby satisfying all customers that dine in your restaurant. All these will translate to higher ROI, increased profits, and a stronger brand reputation.

How to Choose the Right Restaurant Management Software

Not all restaurant management systems are created equal. Some offer more features and benefits that you will find really useful. On the other hand, some programs only come with a handful of functions that you may not need in your operations.

You can reduce the likelihood of making a huge and costly mistake of investing in the wrong system by considering the size of your restaurant and specific business needs first. Next, look for software features that will suit and help address your requirements.

Some of the most important features that the restaurant management software you should take into consideration are:

1. Sales Tracking

One of the most crucial aspects you need to stay on top of as a restaurant owner is a money. Your establishment handles numerous cash and credit card transactions on a daily basis. Because of this, it is vital that you have the ability to monitor and manage these two every day. A point-of-sale (POS) system will give you this capability.

With the right software, you will be able to keep tabs on all the items you sell. This will enable you to have the sales data you need to know your profits. Additionally, with this information, you will have the power to make smart purchasing decisions for your business.

Moreover, a POS program will help you keep reliable records for taxes. It will have a dependable and comprehensive sales and tax data reporting function as well.

2. Inventory Management

Having an under- an over-supply of inventory is a big no-no in the restaurant business. You can avoid dealing with this costly problem by having a system that allows you to manage and control your inventory.

A POS system with inventory control or a separate program will help you know the number of food ingredients you have on hand and to set a par level. At the most basic level, this feature will automatically deduct count from your inventory numbers whenever you make a sale.

With these capabilities, you will know exactly when to order more products from your vendors. You will never have to worry about running out of ingredients to use in your menu items and disappointing your customers.

3. Employee Management

Running a smooth restaurant depends heavily on your ability to manage your employees well. As such, your software should have features that will help you supervise your staff.

Your system should allow your employees to clock in and out so you can track hours worked. This will help you to monitor staff productivity as well. You must have the ability to access employee records and to adjust details such as their PIN codes and hours.

Moreover, your software should enable you to calculate employee overtime and monitor sales performance.

4. Efficient Front-of-House Organization

A good restaurant management system comes with features that will allow you to manage tables and have an option for online reservations. With these features, you will have more efficient front-of-house operations. You will know the status of tables, whether they are currently occupied, being cleared, or already available.

Your software should also be integrated into a reservation system so that you can quickly update your establishment’s table status based on customer reservations. This tie-in will give you a seamless, stress-free experience for managing your tables and seating arrangements.

5. Kitchen Display System (KDS)

This feature is now one of the most sought-after among quick-service restaurants where giving prompt, efficient service to customers is a must.

A KDS is an ordering and information system display in the kitchen. When an order is placed, the KDS is automatically updated and displayed to the kitchen staff. The back-of-house staff can then prepare the order as soon as they get this notification. This system eliminates the need to use papers to take orders. Additionally, all orders are sent directly to kitchen staff. This helps prevent delays and errors. It also ensures all orders are correct and sent to the diners on time.

To run a more efficient, successful food business, investing in the right restaurant management system will certainly prove to be a smart move on your part.

About the Author:

Ahmad Alzaini is the Co-Founder and CEO of Foodics, the leader in Restaurant Automation and Intelligence platforms. In 2015, Foodics was selected by Forbes as the fastest growing startup in the Middle East. Foodics, a cloud-based restaurant management system that runs on an iPad, manages sales, transactions, inventory, employee schedules, logistics, e-commerce, and customer relationships, among others.

We have been hearing about super smart TV to be launched by OnePlus for a long time now. And once again the news comes from India Today that OnePlus TV will be hitting the Indian market soon. The news of a smart TV from the smartphone company hit rounds. The TV was much talked as it is set to give a neck to neck competition to its already existing rivals such as Xiaomi’s Mi TV 4.

Last year we all heard or read what OnePlus announced. They promised to bring a whole new level of smart TV experience. They did not tell when will be the launch of the TV or which operating system the smart TV would be supporting.

So, let’s find out more about the specification and feature of the much-anticipated TV.

Overview and features of the OnePlus TV

According to the source, OnePlus TV will be based on the LCD panel and not the OLED one which most of the smart TVs are based on, these days. This also suggests that OnePlus TV will be more affordable than Samsung, Sony or LG.

Another thing we have been reading or hearing about OnePlus TV is that it is going to be very handy and one could integrate other smartphone or gadgets with it. If that’s true then surely OnePlus TV is going set some grounds for smart TVs in the market.

About the launch

Well, there have been a lot of talk about its launch but if we go by tipster Ishan Aggarwal who hinted in his blog that OnePlus might hit the Indian market by the end of this year or may maybe a few weeks. But it that is not the case, we feel that it might stick to its earlier statement where the company hinted to launch the TV by the mid of 2020.

All we know is, the Indian market is eagerly waiting for the launch of the much-awaited TV.

The price we would have to pay for OnePlus TV

Again there is no fixed idea about the exact price of the OnePlus TV, but we also know that the company has always been generous when it comes to price range for its products. It is also right to say that OnePlus gives quite a competition to its rivals by offering equal quality and features for a lesser amount.

Considering all these facts it is feasible to expect the price of the smart TV to be between 40,000 to 50,000.

Well, we already cannot wait for any further for this smart TV to be launched since we have anticipated enough about it. But until it is launched all we can do is wait for an innovative TV to be launched.

Determine you are verifiable, established income received from all sources. This includes compensation received on a regular basis that is documented and can be proven to your mortgage lender. Most common types of documentation include pay stubs, W2, or 1099 tax forms. Other provable income may include official reports for Uber or Lyft income, regular statements from eBay or similar online accounts, and bank statements illustrating other regular income, such as rental monies received from an income-producing property that you may own.

Non-deposited or irregular cash income received from babysitting, dog-walking or part-time “gigs” may not be considered in the calculation.

First Step:

Remember, there are more than 4 weeks to a month. Thus, if you are paid weekly:  multiply your gross income from the most recent paycheck (before taxes and deductions) by 52 (weeks), then divide by 12(months). This will determine your monthly gross income. If you are paid bi-weekly (every 2 weeks), simply multiply the gross income on one check by 26 and divide by 12. Are you being paid bimonthly (2 times per month)?  Simply multiply your gross by 24 and then divide by 12.

Those calculations assume a regular, fixed income. If your income includes variable overtime or commission payments, make an initial calculation using base pay only. Then, add up your overtime or commission income received over the last 6 months, and divide by 6. Add the average of your fixed income to the average of your variable income, and you will have total your gross monthly income.

For example, The median gross family income in Seattle, Washington is $100,000.00 per year. Divide this number by 52, and it breaks down to $1923.00 per week. Divide $100,000 by twelve, and you have a gross income of $8,333.33 per month. Thus, 31% of gross income would be $2583.00 per month.

Second step

Determine minimum monthly payments necessary for your existing credit cards, car payment, student loans, second home mortgage, 401(k) loan repayment, and any tax debt. These recurring, fixed payment items appearing on your credit report will be taken into consideration by your Seattle online mortgage lender in calculating the maximum loan available for you. Add the total of those payments.

Once you have the payment total of your monthly, fixed debt items, divide that amount by your monthly gross income.  If you have $800.00 in fixed monthly expenses and divide by $8333.33, you can anticipate those expenses to equal 9.6% of your monthly income.

Once you have your figures calculated, enter them into the mortgage calculator.

Third step

Determine your debt to income ratio (DTI).  DTI is one of the biggest factors used by underwriters in approving a home loan. Most lenders will approve a mortgage for a borrower who has a debt-to-income ratio of 43% or less.  However, there exist some federally underwritten programs that may deviate from this calculation.

Using our example above, an individual with a home loan payment of 31% of gross income, and expenses at 9.6%, would have a debt to income ratio of 40.6% and would be a viable candidate for approval of a home loan.

If your debt-to-income ratio is a little high, consider paying down credit cards or other loans before you apply for a mortgage.  This will ensure that you are a viable candidate for the best financing rates and loan programs available.

Budgeting for your home and lifestyle

Approval guidelines are based on average common expenses and determine maximum approved loan and payment amounts.   If you are frugal, carry little debt, and are more of a homebody, maximum guidelines should fit your lifestyle.  However, if your entertainment and dining budget is on the higher end, you may want to consider a home loan with monthly payments lower than the maximum approved amount.

Though not necessarily included in your official mortgage approval calculation, it is important to track all other monthly bills and subscriptions. Most importantly, all savvy financial planners advise budgeting a minimum, payment of 10% of your gross income to a savings plan.

Other necessary fixed expenses to consider include:  federal & state income taxes, health & dental insurance, children & dependent expenses, cell phone, cable & internet, gas & electric, clothing, homeowner’s association fees, and car insurance.

Be sure to also consider variable, but recurring expenses, such as groceries & cleaning supplies, haircuts, dining out, gym membership, Netflix, daily coffee purchases, uncovered medical expenses, vacation savings, birthday & Christmas gifts, veterinary & food expenses for your pets, and any major upcoming life events (like participation in a wedding). Variable expenses can be difficult to calculate. Experts recommend keeping a journal or spreadsheet to track this spending and revisit the list regularly to see where reductions can be made.

Other items to consider

Property taxes change every year the past few years have seen an abnormally large increase in tax rates in Seattle due to past legislation.  The 2019 property tax bill will not reflect much of an increase. The average tax bill in King County for 2019 will be approximately 1% of the value of the home.  Thus, a home with a value of $250,000 will see an annual property tax bill of $2500.  Divide that number by 12 (months), and the monthly tax liability is $208.34.

Certain buyers are eligible for property tax deductions or exemptions.  If you are disabled, elderly, or the widow(er) of a veteran, be sure to discuss the tax breaks with your favourite Seattle online mortgage lender.

Also, keep in mind that certain utility bills are higher in a larger house.   If your current living situation is a one-bedroom apartment in a high-rise, chances are you pay very low heating and electric bills.   When considering your home purchase, keep in mind that the larger the square footage, the larger the utility bills will become.

Monthly mortgage payment guidelines are used to calculate generally how much mortgage payment an individual can afford.  However, they do not anticipate for all individual spending habits.  Make a list of all possible expenses, fixed and variable, and prioritize voluntary spending categories.  Are those expenses absolutely necessary?  Be realistic when assigning a value to entertainment expenses.

Consider alternatives, such as dining at home or avoiding your favourite clothing store.  It is possible to be a homeowner and still enjoy your life!  Check out all of your Seattle home financing options at www.sammamishmortgage.com, and follow their simple steps for preapproval.