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Full PlateIQ Restaurant Management Software Review – All You Need To Know About PlateIQ

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What is PlateIQ?

plateiq

PlateIQ is an invoice processing and restaurant management software that makes accounting in restaurant businesses easy.

With the automated accounts payable software, manual entry of data is replaced with digitization of invoices down to line items, and assigns them automatically with proper GL codes, while syncing information to your accounting software, and offering purchasing-related analytics.

PlateIQ also provides one-click inventory, bill pay, and cloud-based storage of data that lets your restaurant business go paperless, or you can collaborate with your team over multiple time zones and locations.

The software also extracts data automatically, and uses it to power your AP, while providing detailed insights into your expenditure.

Benefits

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Automates restaurant accounting

PlateIQ is among the only restaurant management software whose accounting solution can automate restaurant product costing and inventory. This is because after you upload invoices to the PlateIQ system, the software automatically amends the pricing for vendors as the invoices are digitized. Even better, your team members and chefs can cost new menu items accurately by creating them directly within the system.

No waiting for financial statements to understand costs

With PlateIQ, your CFOs need not wait for financial statements so as to understand costs. It does this by giving users an increased level of consistency in their own groups thus accounts for transactions recorded and reported despite the uniqueness of each entity, via automated accounts payable, paying vendors online, and eliminating manual entry of data.

Scale your restaurant business with ease

PlateIQ also allows you to streamline coding processes as well as inputting processes of all purchases and invoices. You can view price variations while enhancing tracking of costs, integrate with your current back end software, and get insights into spending without waiting for financial statements. You can also track price trends, ingredient costs and purchase histories from the web or mobile devices.

A faster and smarter restaurant kitchen

PlateIQ also helps your chefs to ensure all the inventory pricing is current and accurate, plus you get insights on costs of menu levels, cloud-based management of inventory, and hot list price alerts so you can adjust immediately.

Transforms your restaurant’s operations

With PlateIQ, you can get better insights on your food costs, spend more time on what matters and less on bookkeeping. The restaurant management software stands alone as a true game changer for back office operational efficiency and prime cost control.

Goodbye data entry. Focus on what matters

With PlateIQ’s invoice digitization, you can say goodbye to manual entry of paper invoices. You can also view your expenses directly without waiting for statements, and with a few clicks, send checks to vendors without stuffing envelopes. It is the answer to years of search for dynamic solutions that can manage accounts payable work in high volumes. It is intuitive and its results are great. The automated process also digitizes Mixt’s invoices and extracts information that is synced to the group accounting software of your restaurant.

Integrated reporting

PlateIQ has integrated reports that let you analyze new pricing and purchasing information for all your stores with detailed data which was hard to capture with manual data entries. Mixt views menu analytics, food costs, and more in real time for each store that is in operation.

Automatically digitize and code their invoices

PlateIQ has an AP automation solution that is a huge hit with finance teams, as its interface is user friendly, allowing companies to digitize and code invoices automatically and directly into their accounting systems. No more splitting up invoices manually between expense categories, or endless filing of paper invoices. The software delivers a paperless solution with the correct data that flows to the right people in real time for menu and purchasing decisions.

Back Office Accounting

PlateIQ captures costing data automatically for anything you need to know. This includes the amount per item on your menu and its costings, so you can prepare and serve. This also helps you track your profit margins better as the pricing for vendors change with their products. It also helps you make smarter choices when buying and amend your menu to reflect the performance that changes and preparation costs for each individual meal item that is served to customers.

Automatically capture invoice data

PlateIQ automatically captures invoices line by line. Eliminate manual data entry and save time then store in the cloud all the paperwork.

Sync with your current accounting & inventory software

PlateIQ seamlessly integrates with your current accounting software and inventory. Populate line or GL item details in a single click.

Reconcile vendor statements

PlateIQ also makes comparisons on uploaded vendor statements against the invoices already in the database.

Automated problem alerts

With PlateIQ, you get to know about price discrepancies and missing invoices as it gives you problem alerts, and they’re followed up or dismissed in one click.

Address issues quickly

Email your vendors directly from the statements screen without copy and paste of invoice information.

Save time on vendor payments

In just a few clicks, pay your suppliers and avoid the hassles of having to stuff envelopes of buy stamps.

Stay in sync

Keep your books in permanent balance by pushing payments into your accounting software.

Retain records without filing

PlateIQ stores payment details automatically from amount and invoice numbers directly to the cloud. Get all the access without having to do filing.

Best Restaurant Accounting Software

PlateIQ’s platform gets rid of the many hours of manual entry of data with its automated accounts payable system. Invoices are digitized and synced with QuickBooks or your current accounting software, with a one-click bill pay.

Features

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AP automation

With PlateIQ, you can save time as its AP automation helps with vendor payments, and manages your invoices and cost reporting. Have more time to focus on what matters most and your restaurant’s bottom line.

General Ledger coding by line item

Code your line items to each of their corresponding expense categories once. Next time you make the order for the item, it is coded for you.

Price Tracking

Track all price changes for key purchases in your restaurant from one simple dashboard. Make comparisons and contrast each location’s pricing.

Spend Analysis

Track all spending by category seamlessly and know your expenses without waiting for your profit and loss account statement.

Automated accounting

PlateIQ is the leading software for restaurant accounting. Its features include bill pay, automated accounts payable, and food metrics plus much more. Its never been easier for restaurant business operators to manage the accounting part of their restaurants.

QuickBooks integration

PlateIQ makes it easy for you to use the software using integration with QuickBooks. When paper invoices are digitized, it eliminates all the painful manual entry of data for the software syncs invoice data automatically with QuickBooks, among other leading accounting software.

Restaurant Accounting Review

With PlateIQ, existing and new restaurateurs gain from the streamlined and fully in-house accounting. The reviews from real end users of the software tout its ability to grant access to live information and digitize invoices.

Restaurant Accounting System

PlateIQ is fully integrated to and with accounting systems for restaurants such as Xero, Sage, and QuickBooks. The processes in PlateIQ digitize your invoices and as an added bonus, you get to track the price changes for vendor products, as they happen. This helps you amend menus and meal plans accordingly. Its all about keeping an absolute minimum on your physical administrative time.

Real time financial reports

With PlateIQ, you can reduce the time you need to spend having to attend to tedious back office operations. The software also puts at your fingertips real time financial reports you can use to make more sound daily management decisions.

Online accounting

With PlateIQ, you can take a photo of the invoices and log them digitally into a cloud database that is searchable, so you can track accounting easily, and save effort and time that’d be spent processing invoices, so you can focus on what matters.

Fast Food Restaurant Accounting

PlateIQ eases the management of financials for your fast food restaurant business. It is easy to use and simple so you get to pay invoices and vendors in few clicks, without staff spending hours doing manual paperwork and sending payments via mail. Once your invoices are uploaded into the PlateIQ fast food restaurant accounting software, they are synced automatically with any accounting software you use.

Food cost alerts

PlateIQ offers insights on food costing at recipe level. You can deep dive as you want when there’s an increase in food costs, and make comparisons on vendor pricing while adjusting purchases as needed. Alerts on food costs will notify key stakeholders when prices for specific SKUs increase substantially.

Food Costing App

This is a best in class food costing app by PlateIQ for restaurants, which makes data easier to access and offers actionable and timely insights. Upload the invoices from vendors and PlateIQ will extract item data automatically. Sync with your inventory or accounting software to ensure information is updated all over. PlateIQ’s menu level spend analytics lets you and your team get unprecedented food costing insights.

Bakery Food Cost

PlateIQ works with bakeries, as it has an easy to use interface that bakery owners can use to build recipes or cost their menus entirely. The accounts payable automated prices are updated automatically per ingredient saving hours of manual entry of data.

Buffet Food Cost

With PlateIQ, it is easier and simple to keep track of all changes in pricing for key restaurant purchases using the buffet food cost software. You can see all information on food cost in a dashboard that is easy to use letting you easily and quickly compare pricing per location. No more stressing out on restaurant finances again.

Catering Food Cost

PlateIQ has a catering food cost feature that lets you spend more time focusing on running the business and less on bookkeeping and related resources, with its easy to use and innovative cloud system. It also gives you insights on menu level costs plus hot price alerts for adjustment of your menu times on the go. You can track costs and view price variations while scaling your business with ease.

Bookkeeping

PlateIQ is a leading restaurant software for bookkeeping. It powers some of the world’s best restaurants using its automated accounts payable, price alerts, and bill pay, plus inventory management among other tools. It partners with leading software for accounting so that your invoice data payments and bills are synced always without the manual and laborious entry of data. Just snap a quick photo of the invoices using your smartphone, and PlateIQ digitizes and adds it to the cloud database. You need not send paper invoices via the mail. Track your information over time better including food prices, and tailor your menus so you can increase your profitability. Bookkeeping software packages for restaurants, such as PlateIQ, are a more efficient method than others and make your business more successful and simpler. The fast paced restaurant industry keeps you busy with so many details to manage, so PlateIQ’s bookkeeping software program for restaurants lets you keep your accounts records in digital format, to reduce cluttering and keeping you organized. You get to know exactly how much ingredients cost and what is in stock to ensure you’re running your restaurant business efficiently.

Pricing

PlateIQ doesn’t publish its pricing details or plans on its official website. To get more information or request for a custom quote, contact the vendor.

Technical Details

Devices: 

  • Windows
  • iPhone/iPad
  • Mac
  • Web-based

Languages: English

Pricing Model: Quote-based

Customer Type: Large Enterprises, Medium Business

Deployment: Cloud Hosted

Support Details

  • Email
  • Phone
  • Social media: Facebook, LinkedIn, YouTube, Twitter
  • Blog
  • Demo
  • Online contact or web form