Quickbooks Restaurant Inventory Management with MarketMan
Every year, thousands of restaurants turn to accounting software like Quickbooks to streamline their inventory purchasing, ordering, and invoicing. Keeping the books clean, updated, and easy-to-manage is critical to successful restaurants — and that’s why MarketMan, the leading inventory management platform, integrates directly with Quickbooks to automatically share inventory information with your accounting software.
Why is accounting software important to restaurants?
Accounting, much like inventory tracking, is an integral part of the restaurant business. Quickbooks can help restaurant owners streamline their bookkeeping and keep track of every expense, so they can stay in compliance with their tax liabilities and maximize their deductions. When things move as fast as they do in restaurants, where ingredients and inputs are ordered and reordered at varying intervals based on predictable and unpredictable factors, keeping tabs on expenses can be difficult. Accounting softwares can ease this burden, but they’re only as powerful as the data that goes in. So even if you have a platform as powerful as Quickbooks, you still need to capture all of the relevant data. Enter MarketMan.
What does inventory have to do with accounting?
Inventory management and accounting are inextricably linked — inventory expenses are logged in your accounting software on a recurring basis. Depending on what kind of restaurant you run, the complexity of your menu, and how frequently customers order modified items and substitutions, tracking your inventory expenses can be difficult. And, inventory expenses give unique insights into profitability, sales forecasts, best selling items, food waste, and COGS. All of these things are critical to understanding the health of your business, and can be accessed through Quickbooks.
How does Quickbooks work with MarketMan?
MarketMan tracks inventory in real-time at the ingredient level, giving you unbeatable insights into how your restaurant is performing. You can automatically import invoices and transactions with suppliers and at the point of sale directly into Quickbooks through MarketMan. Through this integration, you can ensure the most accurate and up-to-date expenses are logged and organized in Quickbooks so you can stay on top of your operating costs and profits.
How are invoices tracked in MarketMan?
You can upload, track, and transfer invoices in the platform, either by uploading them manually or scanning them through MarketMan’s mobile app. Uploaded invoices can be synced with Quickbooks so you can track accounts payable in real-time.
What makes the integration so powerful?
Inventory data and real-time invoicing adds another layer of information to your Quickbooks. You can automatically track and deduct business expenses, set up reminders and automatic ordering, and set up direct deposit for automated reordering. MarketMan passes all line item details from an invoice into the corresponding general ledger codes in Quickbooks. All of these disparate functions can be tracked and catalogued automatically through the integration, saving you countless hours every week recording and uploading expenses.
What else does MarketMan integrate with?
Quickbooks is in many ways the end of the line for expense data. MarketMan integrates with a variety of other softwares in your restaurant technology ecosystem, including your POS system, restaurant management software, labor management software, and more. All of these expenses can be logged and managed through MarketMan, and thus fed into Quickbooks.
MarketMan also integrates with other popular accounting sofQuickbooks Restaurant Inventory Managementtware like Xero, Sage, and more. MarketMan’s integrations can ensure the highest quality data makes its way throughout your tech stack, centered around the most important aspect of your restaurant: the product.