Solutions
/

Accounting

Less Work, Better Accounting Insights

Running a food and beverage operation or restaurant is complicated enough. Solid accounting and reporting is the key to profitability. GoTab Accounting & Reporting works to bring visibility to your back end.
Aramark GoTab
Caesars Casino Online Ordering
Guiness QR ordering
Hilton logo
Maui logo
US Open logo
Malcolm yards logo
ruth chris steak house logo
Maui logo
Wesbanco Arena logo
The Golden Mill logo
The delegate hotel logo
Pyres logo

How GoTab Supports Accounting & Reporting

Dollar Remittances
Remittances
Simplify multi vendor operations' accounting by automatically remitting a percentage of sales, tips, etc., to the parent location.
Configuration Gears
Configuration
Map categories and products to custom accounting streams and view reports on those revenue accounts.
Revenue Mapping
Mapping
Map revenue and associated attributes such as discounts, refunds, and taxes to designated revenue accounts.
API Integrations
Integrations
Out-of-the-Box integrations with popular accounting solutions such as Quickbooks, Restaurant365 and RASI.

Built For Fast, Accurate Business Decisions

In the GoTab accounting dashboard there are two views showing the payout information including accrual and deposit:
  • The accrual view displays the data using the accrual method of accounting. Revenue is recorded when a transaction occurs. The focus is on anticipated revenue; i.e., money is recorded when the transaction is made. 
    This method takes into account the current cash inflow and outflow and the expected cash inflow and outflow to give an accurate view of the company's finances. If there is an unpaid balance due to a walkout, GoTab records the open tab under customer receivables.If there is a negative number recorded under receivables, GoTab was able to secure funds. Accrual accounting gives a more accurate and complex view of the state of the company's financial position.
  • Under the deposit view, accountants can easily view the payout from a specific business day or date range.
People standing in line square format.

Create and Manage Revenue Streams On-the-Fly

Setting up revenue streams helps accountants in two ways:
  • They can gain insight into cash flow.
  • They can balance assets and liabilities.
Once revenue streams are configured in GoTab, accountants can assign categories and products to those revenue streams.

This helps organize sales with the correct source. 

Standard GoTab Restaurant Accounting Reports and Views

As a cloud-based Restaurant Commerce Platform, GoTab provides access to all first-party ordering and payment information, no matter how guests choose to place their order (online or on-premise). 

GoTab offers a full suite of out-of-the-box reports, including:
  • Net Sales: The subtotal of products purchased less discounts and refunds.
  • Deferred Revenue: Gift cards, deposits, or anything else that does not count towards revenue on the current fiscal day.
  • Autograt: The auto gratuity collected on the subtotal.
  • Receivables: Funds not received on the date on which the transaction took place less payments received on outstanding balances.
  • Tax: The tax collected on the subtotal of products purchased.
  • Tip: The tip tendered during the displayed period.
  • Fee: The processor/merchant fee to be subtracted from the gross amount.
  • Payout: The amount owed by the payment processor.
All reports are available using the following standard views:
  • Business Day: The period during which payments were collected.
  • Net Sales: The subtotal of products purchased less discounts and refunds.
  • Tax: The tax collected on the subtotal of products purchased
  • Gratuity: The Tip tendered during the displayed period.
  • Merchant Fee: The merchant fee to be subtracted from the gross amount.
  • Processor Fee: The processor fee to be subtracted from the gross amount.
  • Payout: The amount owed by the payment processor.
  • Detail: Click this column to display a categorical breakdown of the subtotal and tax.
Managers can also view accounting data in two different ways (detailed below):
  1. Accrual basis accounting - This report includes transactions that take place on a single business day. Unpaid tabs (outstanding balances) are recorded in the Accounts Receivable category while payments made against outstanding balances are recorded in the Funds Received category.
  2. Deposit view - Payouts are recorded under the deposit view. This report is made up of payouts for any given location. 

“When we switched to GoTab we were able to lower our labor cost percentage quite significantly but at the same time, I was able to increase wages 25% in 2020 and another 20% this year. We can get a beer or drink out, within 30 seconds”

The Blue Pig Sign
Kent Birdwell
Pitmaster at the Blue Pig

"By providing such an easy and straightforward access to performance indicators and sales data, the GoTab POS allows us to make swift operational changes that have an immediate impact on our bottom line."

Brew haven logo
Jennifer Zamora
General Manager of Bearded Tang Brewery

Simplify Restaurant Accounting for Multi-Vendor Locations

GoTab for multi-vendor venues is ideal for food halls, entertainment venues, stadiums; i.e., any venue that could benefit from unified accounting reconciliation. We've built a distinctive set of features that are unmatched by traditional point-of-sale vendors.

Features for Owners & Vendors

  • Out-of-the-box revenue sharing, roll-up reporting, house fees and payout holdbacks. We save accountants countless hours reconciling sales reports and transmitting payouts. 
  • Daily payouts to each vendor, including tips and taxes. Each vendor can access their individual sales and receipt data in real-time. 
  • Remittance feature that allows vendors to share revenue with the parent location. The revenue share is reported on each vendor's sales pages as well as the parent operator. 
  • The daily remittances also show on the parent operator’s accrual page. GoTab automatically routes remittances from a child operator to the parent bypassing manual process. 
Food Hall Catering
Food hall vendors.

Features for Licensees

  • View incoming remittances from child vendors on their sales and accrual pages
  • View all remitted tips (If applicable)
  • Automatically receive remittances in their deposits
  • View their outgoing remittances from their location to the parent on their sales and accrual pages
  • The daily remittances also show on the parent operator’s accrual page. GoTab automatically routes remittances from a child operator to the parent bypassing manual process. 

Open Platform of Best-of-Breed Accounting Partners

GoTab is an open system. Our API Developer Portal for integrated partnerships makes it easy to build and maintain integrations. Our integrated ecosystem features restaurant accounting softwares such as QuickBooks, Compeat (now Restaurant365) and RASI, to help operators thrive by integrating key performance data from GoTab directly into their accounting, payroll, and finance platforms.

Visit our Integrated Partners Directory to find out if we integrate with accounting software you use.

GoTab APi

Solutions for Every Service Challenge

Back of House

Streamline your kitchen operation with our KDS, inventory management, multi-level menu management and more.
Read More

Scale with Less Labor

GoTab operators can reduce their labor costs by as much as 15 percent using staff-friendly tools like Easy Tab, integrated QR/POS tab control and our Handheld POS.
Read More

Guest Engagement

Get all the tools and integrations to build and manage your customer acquisition and loyalty programs, at no additional cost.
Read More

Request a Demo

Ready to experience GoTab for yourself? Sign up for a free demo and get qualified to receive a complimentary meal on us!
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.