Cloud Based Accounting Software for Cafe Owners

When I first heard of cloud based accounting software, I was a little excited. Getting real-time figures on how you are tracking is priceless especially in the café world as we need to adapt daily to the changing landscape. Though when my accountant resisted the move from MYOB to Xero citing the fact that it is slow as it has to be connected to the internet, I started to look into it a bit more. See, there are generational differences at play and unfortunately some people are resistant to technological change. Though even though there are some very obvious floors in connectivity issues, the benefits in my opinion landslide the negatives. The premise behind the move is that unless you can afford a full-time bookkeeper, you are looking at stale data on your business and hence cannot react in a timely manner to changes in the market place.  

How Can It Help Café’s?

One simple example is Cost of Goods Sold [COGS]. It can take most café’s months if not quarters to really find out what their COGS ratio is. This is the amount that product inputs like coffee, milk etc cost in relation to your sales. Keep tabs of this is obviously important. Mix this with labour and other expenses, a timely system that tracks your financial health is essential. Xero is one of the main platforms to hit Australia and there will soon be more. Whilst it is a little pricey on a monthly subscription, compared to costly bookkeeping, you can eliminate the need for a fulltime bookkeeper. At Black Market Roasters, we offer consulting services to help setup and advise on efficient café management systems. We are a Sydney Wholesale Coffee Roaster and Supplier while offering barista training courses form our warehouse in Sydney for clients and the public.