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Prime Cost Wizard - Online Financial Tracking Tool
Restaurant operators that track their prime cost weekly routinely increase their bottom-line 2% - 5% or more! The large restaurant chains have been doing this for years. If you want to compete against the chains, you should too. The Prime Cost Wizard is a web-based restaurant management tool created to help restaurant operators track their sales and expenses with the primary purpose of managing prime cost (food, beverage and labor cost) on a weekly or period basis. This all-in-one reporting tool eliminates the need for a variety of spreadsheets typically used by operators on a daily, weekly, or period basis. The Prime Cost Wizard is designed to fill the restaurant management reporting void commonly found between POS and accounting software, providing management with a prompt reporting tool that serves as an early warning system for possible cost overruns. Features & Benefits -
Easy to use, no learning curve financial management tool -
Replaces spreadsheet dependency with customized online data storage -
No costly software purchase -- 100% Internet accessible -
Eliminates duplicate data entry -- unit level data entry, corporate level access -
Bridges the reporting gap between POS and accounting software -
Built-in web connect QuickBooks™ integration -
Sales and purchase export to accounting -
Multi-unit solution -- receive sales and purchase data instantly at home office -
Track financial performance online anywhere, anytime - Requires as little as 5-10 minutes per day
What You Get
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WEBINAR: Best Management Practices of Multi-Unit Restaurants
In this webinar, Joe Erickson and Jim Laube show how multiunit restaurant operators are using their web-based tool - the Prime Cost Wizard - to improve their store communications, reduce food, beverage and labor cost, eliminate duplicate data entry and spreadsheet dependency, tighten up cash accountability and spot theft warning signs, and establish the seamless transfer of sales and purchase data to the home office accounting system. . . .
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WEBINAR: RO.com's Prime Cost Wizard
The Prime Cost Wizard is a web-based financial tool that combines several of our most popular resources (Weekly Prime Cost Worksheet, Daily Sales Report Templates, Daily Sales Plus Labor Summary) into a single, simple-to-use program that integrates with Quickbooks and Peachtree accounting systems. . . .
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Feature: Labor Summary Tracking
We created the Prime Cost Wizard to be simple and easy, therefore we saw no reason to recreate the wheel when it comes to tracking labor cost - something your POS or time-clock system most likely does a good job of . . .
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Feature: Inventory Level Tracking
Record inventory totals weekly or by period end, track inventory turnover and # of days on hand and keep money off the shelves and in your bank account. . . .
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Feature: Accounting Integration
Eliminate duplicate data entry - forever! Getting a financial handle on you restaurant financials is a must if you expect to turn a profit. At the same time, you and your management team's time is better spent in the dining room and kitchen rather than the back-office. Learn about our system for reducing your back-office time while increasing your financial results . . .
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Feature: Online Reporting
Accurate and timely financial reporting is essential for operators that are serious about gaining control over their sales and profit. The cornerstone of the Prime Cost Wizard program is the Prime Cost Variance report - a weekly comparison report showing sales, cost of sales and labor for a given period. But our reporting capabilities go well beyond simple comparisons . . .
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Feature: Purchase Log
The most successful operators compute their prime cost weekly. The first step in calculating the cost of sales portion of prime cost is to keep a record of your daily food and beverages purchases. . . .
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Feature: Daily Sales Report
Sound financial tracking begins with the accurate recording of sales. The Daily Sales Report (DSR) is the core tracking element for controlling cash, measuring cost vs. sales performance, and forecasting future sales. . . .
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Who Should Join
