How Does MarketMan Manage Restaurant Invoices?
When it comes to restaurant accounting, managing invoices is the keystone to the whole system. Keeping track of orders, organizing them by vendors, and inputting invoices into your accounting software is not only tedious, but also leaves a lot of room for error when doing it by hand. MarketMan’s restaurant invoice management system simplifies the process by consolidating it into a single, cloud-based inventory management and ordering platform that integrates with your accounting software.
What is a restaurant invoice management system?
A restaurant inventory management system is an application or program that can store, track, and analyze invoices from suppliers for inventory and supplies. The best invoice management systems work seamlessly with your inventory and accounting tracking processes, integrating with your bookkeeping, POS system, and inventory management software.
However, many invoice management systems are point solutions, meaning they’re distinct from the rest of your technology ecosystem. That means another vendor to contract with, another program to learn, and another place for information that’s best used in conjunction with others.
Some of the biggest challenges restaurant business owners face with purchasing and ordering is managing expenses, keeping track of invoices, and getting the best deal with suppliers. Invoice management systems can help restaurants stay organized, streamline their ordering process, and ensure they’re getting the best price from suppliers. Finding those efficiencies, however, comes down to how well your invoice management system integrates with the rest of your technology.
How does MarketMan manage restaurant invoices?
MarketMan is a cloud-based inventory management system that integrates with POS and accounting systems to provide you with an in-depth view of your restaurant’s health and performance. By combining sales, inventory, and accounting data in one platform, you can track profitability, cost of goods sold, ingredient levels, and more.
Invoices can be uploaded to MarketMan via manual input or through the MarketMan mobile app. You can also automate ordering so that when inventory levels are low, MarketMan can automatically reorder stock up to a preset level, and share those invoices and orders with your accounting software.
MarketMan integrates with some of the most popular accounting systems, including Quickbooks, Xero, and Sage Intacct. These integrations ensure continuity of information from your suppliers, orders, and bookkeeping.
How does the MarketMan app work?
MarketMan’s easy-to-use mobile app allows you to snap a picture of an invoice with your smartphone and upload it directly to the platform. MarketMan parses the image for all relevant details, whether digital or handwritten, and extracts them directly into the app. All you need to do is take a picture. Because the app is cloud-based, it will sync with MarketMan whenever you’re connected to the internet — so you don’t have to worry if you’re snapping invoices in the warehouse and don’t have service.
Scanning invoices on MarketMan is simple. If you placed the order with MarketMan, it will automatically appear in your app, so all you need to do is scan the corresponding invoice from the supplier when the order arrives. If you didn’t make the purchase through your MarketMan account, you can log it directly in the app and scan the invoice to match. You can also upload digital invoices received on your computer.
What are the benefits of MarketMan’s invoice management system?
Managing your invoices with MarketMan can save you countless hours of tedious work that’s prone to human error. The app has a variety of helpful features, including paperless vendor invoicing, automated accounting integrations, optical character recognition scanning directly through your mobile device, data extraction, a digital filing cabinet, and even automated accounting. All of these features help create a streamlined and highly efficient invoicing, procurement, and ordering process that covers all your bases while saving time.
MarketMan’s invoice scanning saves restaurants hours of time every week and helps ensure they have all the information they need for their books. Ashley Mac’s, an Alabama restaurant chain, used to spend over half an hour every day scanning invoices, but have now cut it down to mere minutes using MarketMan.
Raw Republic Miami, a Florida-based restaurant, uses MarketMan to simplify their purchasing and ordering. “Invoice scanning simplifies the receiving and accounts payable process, which saves us at least 100 hours a week across our nine locations and regional staff,” said Frank Conley, Operations Manager for Raw Republic Miami.
To find out how MarketMan can help you save time on invoicing, request a demo today.