A restaurant’s success is often only seen from the front-of-house. The delicious food, extravagant menus, and mood setting decor all play a role in that success. However, an efficient back-office is just as important.
Restaurant accounting management software helps to take care of your financial information and to ensure that your restaurant is remaining profitable. Seeing how your business is performing allows you to make the necessary decisions to both operate and grow your business.
In this review we’ll take a look at RASI and see if this accounting platform is the right fit for your restaurant.
What is RASI?
RASI is a restaurant accounting management system that helps accelerate restaurant growth with a modern back-office. They are positioned as the leading virtual end-to-end outsourced accounting, payroll, and finance platform in the hospitality market utilizing managed finance as a service.
What Services Does RASI Offer?
RASI offers a unique combination of continued financial education and guidance alongside purpose-built software. Let’s take a look at RASI’s vast list of services that help you manage your restaurant’s back-office.
Restaurant Accounting
RASI provides you with a purpose-built restaurant accounting system paired with ongoing education and guidance. It allows you to ensure accuracy of your books, make proactive business decisions, reduce general admin expenses, create revenue producing opportunities, and scale your team. With restaurant accounting you can access features such as:
- Hospitality specific accounting, finance, and payroll
- Financial accounting
- Period end reviews
- Daily/weekly cash accountability
- An industry expert team
- Oversight accounting
- Operational reviews
Complete GL & Financial Reporting
Maximize your restaurant’s profits with streamlined reporting that enables you to make educated decisions. Use RASI’s financial reporting features to:
- Create a customizable chart of account
- Budget and forecasting using machine learning and historical metrics
- Create weekly financial statements
POS Integration & Data Normalization
Integrate with your POS system to import and analyze your data in RASI’s accounting system.
Business Intelligence & Data Analytics
With RASI’s in-depth analytics tools you’re able to generate actionable insights based on real-time data. You can create budgets and use forecasting tools with machine learning to analyze your restaurant, Manage your labor, training dollars, and employee turnover across multiple units, and identify areas of opportunity with RASI’s customizable KPI’s and financial reporting metrics to make proactive business decisions.
AP & Cash Management
RASI offers full digitized AP and cash management tools to enhance your financial visibility and enable your restaurant to proactively manage your accounts payable and cash position. Features include:
- Invoice image storage to eliminate manual processes
- AP and cash management reporting
- Flexible AP bill payment methods including ACH, paper, credit card, and cash
- Automated synchronization of your inventory database
- Invoice cash management aging
- Daily/weekly cash reconciliation
Multi-Unit Inventory & Theoretical Costing
Proactively manage your restaurant’s inventory with RASI’s flexible dashboard which includes advanced theoretical costing and forecasting capabilities. Features include:
- Detailed item level reporting to increase efficiencies
- Food cost management to optimize profitability of your menu
- Menu item velocity reporting to see which items have positive sales and margins
- Item variance reporting to gain insight into your menu with theoretical vs. actual costing and forecasting
- Consolidation and trend reporting to identify opportunities across all units
- Spending forecast to evaluate and optimize your restaurant spending
- Menu engineering dashboard to see daily operation data
- Drill down reporting to find actionable insights
- Cost of goods audit reporting to review and approve item and purchasing variances
Purchasing & Manufacturer Rebates
You’re able to earn money back on everyday purchases for your restaurant by using RASI’s negotiated manufacturer rebate programs. Even as a small restaurant you’re able to leverage the purchasing power of the big guys by utilizing RASI’s network. 100% of the earned rebates are passed directly from the manufacturer to you.
Payroll & HRIS
Take the confusion out of payroll by utilizing RASI’s restaurant payroll and HRIS services. Pay your staff on-time and remain compliant with local, state, and federal mandates regarding payroll processing. Payroll features include:
- Payroll compliance to include local, state, and federal mandates
- Flexible paydays and pay cycles so that you can adhere to cash flow needs
- Payroll tax returns to handle auditing and preparation for city, state, and federal taxes
- Strategic partnership integrations including your POS, insurance, 401K administrators, benefit administrators, and onboarding and applicant tracking systems
- Payroll management dashboard to easily keep track of your reporting
- Flexible pay type options to ensure your employees are paid on time via direct deposit, pay card, paper check, or cash
- IRS form 8027 generation
- Online employee access to W2’s, paycheck stubs and HR documents
Restaurant Compliance
Protect your restaurant’s assets, employees, stakeholders, and business with RASI’s dedicated compliance team that understands the restaurant industry. Receive guidance on documentation audits, best policies, best practices, remain up-to-date on industry compliance news, and ensure compliance and electronic signatures, storage, and retention of federal forms.
Treasury Solutions
RASI’s highly trained tax agents will ensure that your restaurant adheres to all tax laws and regulations that are specific to the hospitality industry. Treasury services include:
- Payroll tax return and payments
- 401k, medical and dental deductions
- Wage garnishment calculation and payment
- IRS form 8027 generation
- Access to a repository of information regarding industry tax laws
How Much Does RASI Cost?
RASI offers three plans to meet your restaurant’s specific needs.
Oversight Accounting Services
This plan costs $450 per month per rooftop with a minimum of 5 rooftops. It includes:
- Oversight accounting
- RASI industry expert team and continued education
- Compliance oversight
- Inventory, menu engineering, and theoretical costing
- Strategic partnerships
- Purchasing program and rebates
Financial Accounting Services
This plan costs $600 per month per rooftop. It includes:
- Financial accounting
- RASI industry expert team and continued education
- Compliance oversight
- Period end audits and operational financial reviews
- Daily/weekly cash accountability report
- Budgeting and break evens (first one is on them)
- Goal setting, tactics and measurements (first one is on them)
- Strategic partnerships
- Purchasing program and rebates
Managed CFO/COO Services
This plan costs $800 per month per rooftop. It includes:
- Financial accounting
- RASI industry expert team and continued education
- Compliance oversight
- Period end audits and operational financial reviews
- Daily/weekly cash accountability report
- Budgeting and break evens
- Goal setting, tactics and measurements
- Inventory, menu engineering, and theoretical costing
- CFO/COO level strategy
- Strategic partnerships
- Purchasing program and rebates
Payroll services are an optional add-on to any plan you choose.
Is RASI the Right Fit for Your Restaurant?
With a vast list of services, and excellent customer service, it’s easy to see why RASI is one of the leading accounting management solutions in the restaurant industry.
Plus, first year RASI users see on average a 14% increase in net profit. An accounting platform that will more than pay for itself is a valuable asset to any restaurant.
How to Get Started
Get started by requesting a free demo. During this demo you will see how RASI helps you move away from defragmented systems with a holistic accounting platform, cut overhead costs and create scale, find time savings and streamline processes, and utilize real-time data to make profitable decisions for your restaurant.
