QuickBooks Online vs. Restaurant365: Which is Better for Restaurant Accounting?

When it comes to managing restaurant finances, choosing the right accounting software is crucial for keeping everything organized, compliant, and efficient. With many options on the market, two of the most popular choices for restaurant owners are QuickBooks Online and Restaurant365. Both platforms offer unique features and benefits, but how do you know which one is right for your restaurant?

In this blog, we’ll dive into a side-by-side comparison of QuickBooks Online and Restaurant365 to help you decide which software best meets your restaurant’s accounting needs.

1. Overview of QuickBooks Online and Restaurant365

QuickBooks Online (QBO)
QuickBooks Online is a versatile, cloud-based accounting software that’s widely used across many industries. It's known for its user-friendly interface, customizable features, and strong integration capabilities. While it’s not specifically built for restaurants, QuickBooks offers a range of tools for managing finances, tracking expenses, invoicing, and preparing financial statements.

Restaurant365 (R365)
Restaurant365 is a cloud-based accounting software specifically designed for the unique needs of restaurants. Unlike QuickBooks, Restaurant365 is tailored to address the complexities of restaurant accounting, offering everything from inventory management to payroll and scheduling, all integrated into one platform. Restaurant365 focuses on streamlining financial operations specifically for the restaurant industry, offering powerful insights into your business’s financial health.

2. Key Features Comparison

QuickBooks Online

• Basic Accounting Tools: QBO offers all the essential accounting tools—general ledger, bank reconciliation, expense tracking, and financial reporting.

• Customizable Invoicing & Payments: You can create customized invoices and track payments, which is useful for catering or delivery services, but less so for day-to-day restaurant operations.

• Payroll Integration: QuickBooks Payroll can be integrated, but it is a separate service that costs extra.

• Third-Party Integrations: QuickBooks is known for its wide range of integrations with other apps and services, making it a flexible option if you use various tools for POS, inventory, or scheduling.

• Reporting: QuickBooks offers strong financial reporting, but it’s more general and may require customization for specific restaurant-related metrics.

Restaurant365

• Restaurant-Specific Accounting Tools: Restaurant365 is built specifically for restaurants, so it offers features such as recipe costing, vendor management, and daily sales reporting tailored to the foodservice industry.

• Real-Time Inventory Management: R365 automatically updates inventory in real-time, helping you track food costs and prevent waste. This is critical for restaurants where margins are tight.

• Integrated Payroll & Scheduling: R365 offers built-in payroll management and scheduling tools that are directly connected to your financial data, allowing for seamless labor cost tracking and optimization.

• Operational Dashboards: Restaurant365 has built-in dashboards that give you an at-a-glance view of your restaurant’s performance, including revenue, labor costs, and food costs, which is a game-changer for busy owners and managers.

• Analysis: The software offers specialized reports tailored to the restaurant industry, such as food cost percentages, labor cost analysis, and sales forecasts, making it easier to track key performance indicators.

3. Ease of Use

QuickBooks Online
QuickBooks is known for its user-friendly interface and ease of use. Setting up and managing accounts is relatively simple, even for restaurant owners with limited accounting experience. However, some customization may be required to track specific restaurant metrics, and users may need additional third-party apps to handle inventory or payroll, which can add complexity.

Restaurant365
Restaurant365 is designed with restaurant operators in mind, and while it offers powerful features, it can be more complex to set up and use compared to QuickBooks Online. That said, R365 offers dedicated customer support to guide you through the process, and many users find it well worth the learning curve, especially when it comes to streamlining restaurant-specific processes.

4. Cost Comparison

QuickBooks Online
QuickBooks Online offers several pricing tiers depending on the features you need, starting from around $25/month for the Simple Start plan to $180/month for the Advanced plan. While it is a more affordable option upfront, additional costs for payroll and third-party integrations may increase the overall expense.

Restaurant365
Restaurant365 is a more expensive option, with plans typically starting at $199/month and can go much higher depending on the number of locations and features you require. While it is a higher investment than QuickBooks, the software’s all-in-one platform and restaurant-specific tools can save time and resources in the long run.

5. Customer Support

QuickBooks Online
QuickBooks offers a variety of support options, including phone, chat, and an extensive help center with tutorials and guides. However, because QuickBooks isn’t built specifically for restaurants, you may need to rely on community forums or third-party solutions for restaurant-specific questions.

Restaurant365
Restaurant365 provides dedicated customer support, including setup assistance and ongoing help. Since R365 is built for restaurants, their support team is well-versed in the challenges restaurant owners face and can offer specialized advice and guidance for restaurant-specific issues.

6. Scalability

QuickBooks Online
QuickBooks Online is a great option for small to medium-sized restaurants. As your restaurant grows, you may need to integrate additional tools to manage inventory or payroll, but QuickBooks can scale with your business. However, managing multiple locations and a complex restaurant structure might require significant customization.

Restaurant365
Restaurant365 is designed with scalability in mind, making it an excellent choice for restaurants with multiple locations or more complex operations. The software can handle everything from single-location mom-and-pop shops to large chains, with features like multi-location reporting and consolidated financials.

Conclusion: Which One Is Right for You?

The choice between QuickBooks Online and Restaurant365 depends on your restaurant’s needs, size, and budget.

• QuickBooks Online is ideal for small to medium-sized restaurants that need basic accounting tools and have a straightforward financial structure. It's cost-effective and provides flexibility, but may require additional apps for things like inventory management and payroll.

• Restaurant365 is a premium solution designed specifically for restaurants, offering robust features for inventory management, labor cost control, and specialized reporting. If you have multiple locations, need detailed financial insights, and want a comprehensive, all-in-one solution, R365 may be the better option—though it comes at a higher price.

If you're looking for a dedicated accounting team to help you make sense of your restaurant's finances, ACE'd Accounting Solutions can work with you to implement and manage the best accounting system for your needs, whether it’s QuickBooks Online, Restaurant365, or another solution.

Need help deciding or want assistance with implementing one of these systems for your restaurant? Contact ACE'd Accounting Solutions today, and we’ll guide you toward the right solution for your business.