Business expansion is an exciting opportunity for restaurant and café owners. Nothing says success like opening another restaurant or café under your name. Keep track of your growing food business empire with Xero tracking categories. Tracking in Xero enables you to take a detailed look at various branches of your business. This is particularly helpful if you own a chain of fast food restaurants or convenience stores. With Xero tracking categories, you can get information quickly and see how your different food business establishments are doing. Compare the revenue of your restaurant in Brisbane with that of your restaurant in Sydney with just a few clicks. Restaurant bookkeeping is so easy with Xero accounting software!
How to Set Up Xero Tracking Categories
Keep in mind that your food business can have up to two active tracking categories in Xero. A tracking category needs at least one tracking option, but each tracking category can have up to 100 tracking options.
- Go to the Settings menu and select General Settings.
- Under Reports, select Tracking.
- Click + Add Tracking Category.
- Under Tracking category name, enter the name of the tracking category.
- Under Category options, enter your tracking option names.
- Click Save.
Add new tracking options by clicking into the tracking field, clicking on the arrow and selecting +Add new tracking option. You can assign tracking options to the following:
- New transactions such as invoices, bills and purchase orders
- Transfers between different bank accounts
- Fixed assets such as commercial kitchen equipment
- Budgets created in Xero Budget Manager
- Contacts such as restaurant or café employees
Benefits of Tracking Categories for Restaurant & Café Bookkeeping
Using Xero tracking categories gives you more flexibility in reporting and setting budgets. You can analyse detailed breakdowns of costs in your various restaurants or cafés, and you can set up a budget for each tracking category. With Xero tracking categories, you can also filter reports based on specific tracking options. For example, you can filter your restaurant or café’s payroll reports by timesheet categories and employees groups. You can also filter your balance sheet, profit & loss report, journal report and account transactions report.
For a detailed video and explanation, jump to Xero.
Learn more about Xero and hospitality bookkeeping. Contact our expert restaurant and café bookkeepers today!