The FIXE dashboard now features custom, multi-unit comparative reporting, a powerful resource to make better informed, more timely business decisions. Restaurant groups can compare financials from up to 5 restaurants on one screen. Just select the locations, date ranges and categories you like. See exactly where you stand and find areas to improve.
We can now take multiple QuickBooks Online (QBO) files across any different ownership groups, entity structures or investment groups and consolidate them into a financial package to present to our clients. You can have multiple concepts or several locations of a single brand. See overall profitability and allow for sound bookkeeping by isolating restaurants in separate sets of books. In every case, you can access this live data at any time through our dashboard.
Ownership structures dictate the need to have separate QuickBooks Online files. If you have different entities, but they’re all owned by one holding company, then that works. You can keep them in the same QBO file and easily compare locations class by class. When you have different ownership structures, you really need to separate those QuickBooks Online files, because it will be very hard at the end of the year for the CPA to do their work. We solve for this.
Since we hired FIXE CTO Yogish Pai earlier this year, multi-entity reporting has been a priority. Through efforts from Yogish and our team, identifying differences has become easier to do and more automated.
Step 1, which we’ve achieved, is how do we present this information to our clients without having to use Excel and do what I call Excel gymnastics in order to consolidate this information?
Step 2 was to start identifying, “Here are your three locations. Why is this location’s electricity bill so much higher than everyone else’s? Why is one gas bill 5 times as expensive as the other locations? How come one restaurant’s linen service is costing you significantly more?” Because that information is all brought into one dashboard now, it’s easier to highlight and address.
This functionality is a game-changer for restaurant groups and franchise owners. Reach out to us at info@getmyfixe.com to schedule a short demo and see multi-entity reporting in action.
