AI TOOL PROFILE
CooksTime: Restaurant Accounting Software
- Finance and Accounting
- Restaurant Accounting
- Restaurant owners
- Bar and nightclub operators
- Restaurant franchise groups
- Multi-location restaurant operators
- Restaurant accountants
Pricing
Monthly plans include Bars & Nightclubs ($109), Family Style ($124), and Full Service ($139). Annual billing reduces costs to $87.50, $99.50, and $111.50 per month respectively. Franchise partnerships start at $229/month.
At a glance
- Best for
- Restaurant owners, Bar and nightclub operators, Restaurant franchise groups, Multi-location restaurant operators, Restaurant accountants
- Key use cases
- Daily Financial Monitoring, Vendor Cost Management, Multi-Unit Management, Menu Profitability Analysis
- Integrations
- POS connection, Bank feed automation, Vendor invoice upload
- Official website
- Visit CooksTime official website
How AI is used
CooksTime is an accounting and management tool designed for restaurants, bars, nightclubs, and franchises. It is designed to reduce manual data entry by automating a portion of daily bookkeeping transactions through connections with POS systems, banks, and vendors.
The platform provides tools for owners, accountants, and kitchen or bar managers. It combines financial reporting with operational tools like inventory tracking and employee scheduling.
Buyers can use the tool to monitor food and alcohol costs, track vendor price fluctuations, and manage multi-location financials through parent-level accounting. It supports daily insight into gross profits and spending patterns.
Buyers should confirm which subscription tier fits their specific business model, as features like kitchen and bar manager tools vary between the Bars, Full Service, and Family Style plans.
Key Features
Automated Bookkeeping
Supports the automation of 90% to 95% of daily bookkeeping entries via POS, bank, and vendor connections.
Inventory & Recipe Costing
Includes tools for creating recipes, costing out menu items, tracking waste, and generating suggested orders.
AI Insights
Provides alerts for vendor price changes and identifies areas of overspending.
Parent-Level Accounting
Supports multi-location restaurant groups in viewing financials on a single report and managing intercompany transactions.
Employee Scheduling
A module designed to help manage staff schedules and support labor cost control.
Automated Accounts Payable
Supports the auto-upload of invoices from accounting and inventory vendors.
Use Cases
Daily Financial Monitoring
Tracking daily 'True COGS' and gross profit to reduce reliance on manual reports.
Vendor Cost Management
Using AI alerts to identify when a vendor increases the price of a specific ingredient.
Multi-Unit Management
Consolidating financial data for multiple locations and paying invoices from a single bank account.
Menu Profitability Analysis
Costing out recipes and tracking ingredient usage against purchases to identify potential losses.
Integrations
- POS connection
- Bank feed automation
- Vendor invoice upload
FAQ
Who is CooksTime designed for?
- It is designed for restaurants, bars, nightclubs, franchises, and restaurant groups of all sizes.
How does CooksTime handle bookkeeping automation?
- It connects to POS systems, bank feeds, and vendors to automate between 90% and 95% of daily bookkeeping entries.
What are the pricing options for CooksTime?
- Monthly rates vary by business type: $109 for Bars & Nightclubs, $124 for Family Style, and $139 for Full Service, with discounts available for annual billing.
Does it support multiple locations?
- Yes, it includes parent-level accounting and multi-location reporting to view location financials on a single report.
Source category: Finance & Accounting
Source subcategory: Restaurant Accounting
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