In this episode of Hospitality Hangout, Michael Schatzberg, “The Restaurant Guy,” and Jimmy Frischling, “The Finance Guy,” are joined by Morgan Harris, Co-Founder and Chief Customer Advocate of Restaurant365.
Morgan shares his journey from a CPA at PWC to a passionate entrepreneur determined to help restaurants thrive. He delves into the unique challenges that restaurant accounting and operations present and explains how his vision to address these issues led to the creation of Restaurant365. Morgan also highlights the company’s strategic partnerships with accounting firms to effectively reach more restaurant operators by relying on a trusted network of Restaurant365 experts.
Key Takeaways:
- Restaurants have unique accounting needs
- Everything about inventory impacts accounting
- Why track inventory outside of accounting software?
- Restaurants need to make money to survive
- Accounting 101 on debits and credits
- Restaurant 365 integrates accounting and inventory
- Restaurants are misunderstood businesses
- Early adopter restaurants had ancient tech
- Finding partners is key for restaurant tech
- Outsourced accounting drives sales
