In the dynamic world of hospitality, managing finances efficiently is not just an option; it’s a necessity. Restaurant owners and chefs know the struggle all too well: juggling invoices, keeping track of supplier credits, and ensuring that every dollar is accounted for. This is where ChefMod steps in, revolutionizing the way the hospitality industry manages its finances with its latest feature.
Understanding the Challenge
Traditionally, handling supplier credits has been a cumbersome process, often leading to confusion and missed opportunities for savings. Whether it’s credits due to returned goods, or products short on truck, discrepancies in billing, or any other reasons, managing these adjustments can get complicated. That’s why we’ve developed a seamless solution tailored specifically for the challenges faced by restaurateurs and their teams.
Introducing the New Feature
ChefMod is proud to unveil a cutting-edge addition to our cloud-based software: the Supplier Credit Management feature. This innovative tool is designed to simplify the way you handle credits from suppliers, giving you a clear, organized view of all your financial transactions.
Feature Highlights
Invoice (INV): Easily track all your invoices in one place, ensuring you never lose sight of what’s been billed and what’s been paid.
Credit Memo (CR): View and manage all your credit memos from suppliers, ensuring that every credit due is accounted for and applied correctly.
Purchase Order (PO): Keep track of all your orders, aligning your purchasing with your budget and culinary needs.
Expected Credit (xCR): Perhaps the most innovative aspect of this feature, the Expected Credit system allows you to log anticipated credits from suppliers. This means you can maintain accurate financial records, and keep track of what’s coming as you wait for confirmation or processing from your supplier.
Our intuitive display allows for simple filtering, ensuring that you’re always up to date on what credits have been received and what is still expected. The flexibility to enter expected credits for any amount adds a layer of precision and adaptability to your financial management like never before.
Why This Matters
With ChefMod’s Supplier Credit Management feature, gone are the days of sifting through emails and paperwork to figure out your financial stance with suppliers. Our user-friendly interface ensures that all necessary information is just a click away, providing clarity, reducing errors, and saving time. This means more time focusing on what matters most: delivering exceptional culinary experiences to your guests.
Today it’s Fully Automatic
Through our CrossDoc AP Automation subscription, ChefMod’s dedicated Data Management Team (DMT) is at the forefront, ensuring that your financial processes are seamless, efficient, and tailored to your specific needs.
More than Just a Scan
By opting for this subscription, you will leverage the power of the DMT to automatically process your invoices, credit memos, and expected credits for every bill you receive from all of your suppliers. This includes sophisticated 2-way or 3-way matching systems that align your Purchase Orders with receiving documents or e-invoices issued through integrated suppliers, providing unmatched accuracy and transparency.
Jumpstart your Bookkeeping Effort
But that’s not all. Every line of every invoice is meticulously mapped to your specific financial chart of accounts (COA), ensuring that every entry is correctly categorized without any manual input from you.
Tie it Back to Inventory, Ordering, Business Analytics, and EzRecipe
Our system also reconciles each purchase with your inventory list, providing invaluable insights into pricing across your supplier network and identifying alternative products to give you more choices and control.
Submitting invoices is a breeze with the ChefMod CrossDoc Gateway. Whether you prefer using our convenient mobile app, batch uploads via the ChefMod FINANCIALS module, or a dedicated email address provided to every customer, we’ve got you covered. And for those who value security and control, our permissions-based user credentials allow you to designate invoice review and approval tasks to the appropriate members of your team, ensuring that no invoice is paid without explicit approval.
Once an invoice is submitted through our Gateway, the rest is automatic. The system operates with zero exceptions, providing a visual copy of the invoice along with all related data, ensuring complete transparency and integration with your COA, Marketplace ordering system, Business Analytics, and ezRecipe.
We understand that managing a restaurant’s finances can be complex, but with ChefMod’s CrossDoc AP Automation, it doesn’t have to be. Join the myriad of satisfied customers who are already experiencing the peace of mind and efficiency that comes with this service.
Explore the possibilities with ChefMod, and let us help you take your restaurant management to the next level. Book a Demo today to start your journey towards effortless financial management.
Join us on this journey towards financial clarity and efficiency. Welcome to the future of restaurant management with ChefMod.