How an Online Payroll Service Can Benefit Your Restaurant
2 Pages
English
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How an Online Payroll Service Can Benefit Your Restaurant

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Downloading requires you to have access to the YouScribe library
Learn all about the services we offer
2 Pages
English

Description

How an Online Payroll Service Can Benefit Your Restaurant Research from Intuit ranks restaurants amongthe toughest small businesses to own and operate. Intuit says that the restaurant industryhas a survival rate ofjust 20%.

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Published 19 August 2016
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Language English

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How an Online Payroll Service Can Benefit Your Restaurant Research from Intuit ranks restaurants amongthe toughest small businesses to own and operate. Intuit says that the restaurant industryhas a survival rate ofjust 20%. Between the high overhead costs, equipment, licenses, and the myriad of state and local regulations, restaurant owners need to maintain a strongcash flowposition to remain viable. But there's somethingelse that needs to be considered above and beyond financial resources: time resources.
Restaurant owners invest a tremendous amount of their own time in keepingtheir operations running. For an owner to work seven days a week is not all that unusual, especiallyin a small local restaurant that doesn't have the luxuryof multiple locations with separate managers on staff. And because time is such a precious commodity, restaurant owners need to be verycareful about how theyuse it. We believe it's important to talk about payroll services if we are going to talk about making the best use of time.
Payroll is a time-consumingand complicated task regardless of the industrya companyis involved in. But it is definitelymore complex for the restaurant owner. For anyrestaurant owner who does not fullyunderstand accountingandpayroll reporting,payroll can be tremendouslyfrustrating. This is one of the reasons our payroll services focus on the restaurant industry, among others.
BenefitMall
Consider what the typical restaurant owner has to deal with:
High TurnoverIt's no secret that profit margins in the restaurant business are extremely tight. Therefore, restaurants have to be verycareful about what theypay, inevitablyleadingto high turnover. High turnover rates only make payroll more complicated for the restaurant owner.
Server TipsNo other industry has to deal with the complicated matter of server tips. As a matter ofpractice, servers make less than minimum wage with the expectation that their tips will make upfor the lower pay. But all of those tips have to be accounted for so that they are correctly reported. This is a tremendous headache. StaffingShortagesAlthough staffingshortages don't directlyaffectpayroll, theydo affect it indirectlyin that restaurant owners and managers have to work so hard in the kitchen theydon't have time to deal with payroll during the course of daily business. The only other option is to take care of it when they are supposed to be resting and recharging at home.
Online Payroll Part of the Solution
There's not a lot that can be done to adequatelyaddress high turnover, the complex nature of tip reporting, and successfullydealingwith staffingshortages to free uptime for other things. But changinghow you do payroll can help significantly. For example, accessing payroll services online makes it possible to streamline everythingso that the restaurant owner's onlyresponsibilityis one of logginginto his/her account and entering employee data once a week.
Obviously, differentpayroll services offer different levels of assistance to clients. This is whyitpays to compare services before agreeingto work with one. BenefitMall is the ideal solution for restaurants because we have created a customized solution that meets the unique needs ofyour industryincludingfeatures needed to helpyou receive the FICA Tip Credit, remain ACA compliant, and integrateyour Point-of-Sale (POS) system.
Accessingpayroll services online via BenefitMall ensures thatyour employeesgetpaid on time and accurately, withjust a few minutes ofyour time needed everyweek. It also ensures thatyour business is compliant with all tax and reportingresponsibilities. You will be able to turn the headaches over to us so that you can actually enjoy the business of being a restaurant owner.
Get back to business with ourRestaurant Payroll Solution!
BenefitMall