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MarginEdge Accounting Software Review 2023

9.6 excellent ratings
MarginEdge
Updated On 28 September, 2023

Marginedge is a software company that provides a cloud-based platform for the restaurant industry. The platform offers a range of tools and services that help restaurants improve their profitability and efficiency, including inventory management, recipe costing, menu engineering, and labor management.

The platform is designed to integrate with a restaurant’s existing systems, including point-of-sale (POS) and best accounting software. By automating many of the day-to-day tasks involved in running a restaurant, Marginedge helps to reduce costs and increase revenue, allowing restaurant owners to focus on other aspects of their business.

One of the key benefits is its ability to provide real-time insights into a restaurant’s performance. With features such as menu analysis and sales reporting, restaurant owners can quickly identify trends and make data-driven decisions to improve profitability.

Marginedge is a comprehensive solution for restaurant owners looking to streamline their operations and improve their bottom line. By providing powerful tools and actionable insights, Marginedge can help restaurants of all sizes to achieve their business goals.

Read our other review post on Marginedge review to know about how Marginedge is different from freshbooks review.

Pros

  • Streamlines restaurant operations
  • Provides real-time insights into performance
  • Automates inventory management and recipe costing
  • Offers menu analysis and sales reporting
  • Integrates with existing POS and accounting systems
  • Helps reduce costs and increase revenue
  • Customizable to meet specific restaurant needs
  • Accessible from anywhere.
  • Provides data-driven recommendations¬†
  • Offers a user-friendly interface

Cons

  • Can be expensive for small restaurants
  • Requires time and resources to set up and learn
  • Needs precise data input
  • Additional hardware/software required
  • Not ideal for low-profit margins
  • Requires stable internet connection
  • Limited variable accounting
  • Needs extra training for full use
  • Limited personalized support.

Performance at Glance

The software provides a range of tools and features, including inventory management, recipe costing, menu engineering, and labor management. By automating many of the day-to-day tasks involved in running a restaurant, MarginEdge can help reduce costs and increase revenue, allowing restaurant owners to focus on other aspects of their business.

Specifications

MarginEdge  Rating  at Glance

Our Verdict

Ease of Use

Streamline your restaurant operations with ease.

Customer Support

Get personalized support from MarginEdge's dedicated team.

Value for Money

Invest in your restaurant's profitability with MarginEdge.

Functionality

Make data-driven decisions with real-time insights

G2 Rating

Trust the positive reviews of other restaurant owners and managers on G2.

Ease of Use:

user-friendly interface and is relatively easy to use, especially for restaurant owners and managers who are familiar with technology. The software is designed to streamline restaurant operations and automate many of the day-to-day tasks, which can save time and reduce errors.

Customer Support:

offers personalized customer support to its users, including a dedicated account manager and technical support team. Users can also access a knowledge base, online resources, and training materials to help them get the most out of the software.

Value for Money:

can be expensive for small restaurants, but for larger or more complex operations, it can provide significant value for the money. The software’s ability to automate inventory management, recipe costing, and menu engineering can help reduce costs and increase revenue, which can make it a worthwhile investment.

Functionality:

offers a range of features and tools to help restaurant owners and managers streamline their operations and improve profitability. The software is customizable to meet specific restaurant needs and integrates with existing POS and accounting systems. Some users may find that MarginEdge does not account for all variables in restaurant operations, but overall, it provides robust functionality.

G2 Rating:

According to G2, a software review platform, MarginEdge has a rating of 4.2 out of 5 stars. Users praise the software for its ease of use, customer support, and ability to automate tasks, but some criticize it for its cost and limited reporting capabilities. Overall, MarginEdge is highly rated on G2 and is considered a top choice for restaurant management software.

Features of MarginEdge Accounting Software

Features

Details

Billing & Invoice

Yes

Built-in-Accounting

Yes

Employee Management

Yes

Inventory Management

Yes

Menu Management

Yes

Payroll Management

Yes

Wait Staff Management

Yes

Sales Tracking

Yes

Point of Sale

Yes

Reporting/Analytics

Yes

Online Payments and Funding

Yes

Menu Planning

Yes

Billing & Invoice:

Create and send invoices to customers with ease. The software automates the process of tracking payments and helps restaurant owners to keep accurate financial records.

Built-in-Accounting:

Manage finances more efficiently. The software provides real-time financial data, such as income statements, balance sheets, and cash flow statements, which can be used to make informed business decisions.

Employee Management:

Manage staff more efficiently. The software enables owners to track employee schedules, time off requests, and payroll information.

Inventory Management:

Track inventory levels in real-time. The software automates the process of ordering and receiving inventory, and provides detailed reporting and analytics to help owners optimize their inventory levels.

Menu Management:

Create and manage their menus with ease. The software provides detailed analytics on menu performance, including which items are selling well and which items are not, allowing owners to optimize their menu for profitability.

Payroll Management:

Allows restaurant owners to manage their payroll more efficiently. The software automates the process of calculating wages, taxes, and other deductions, and provides detailed reports on payroll expenses.

Wait Staff Management:

Manage their wait staff more efficiently. The software provides real-time tracking of wait staff performance, including sales performance, tips, and customer satisfaction ratings.

Sales Tracking:

Track sales in real-time. The software provides detailed reporting and analytics on sales performance, including sales by location, sales by item, and sales by customer.

Point of Sale:

Process transactions with ease. The software integrates with existing POS systems, allowing owners to manage their sales data in one place.

Reporting/Analytics:

Provides detailed insights into restaurant performance. The software provides real-time reporting on financial data, inventory levels, sales data, and employee performance, allowing owners to make informed business decisions.

Online Payments and Funding:

Accept payments online and access funding when they need it. The software integrates with various payment processors and funding platforms, making it easy for owners to manage their finances.

Menu Planning:

Allows restaurant owners to plan their menus for maximum profitability. The software provides detailed analytics on menu performance, including which items are selling well and which items are not, allowing owners to make informed decisions about menu changes.

How to add products in MarginEdge?

Adding products to your inventory is an essential task for any restaurant or food service business. With MarginEdge, the process of adding new products is quick and straightforward. Here’s a step-by-step guide to help you get started:

  • First, log in to your MarginEdge account and navigate to the “Inventory” tab.
  • After the MarginEdge login, click on the “Products” tab.
  • To add a new product, select the “+ Add a new Product” button.
  • Next, fill in the required fields for the product. This includes the product name, product category, and unit of measure. You can also add additional information, such as a product description, cost, and vendor information.
  • If the product has multiple units of measure, you can add them by clicking on the “Units of Measure” tab and selecting “Add a new unit of measure.”
  • Once you have entered all the required information, click on the “Save” button to add the product to your inventory.

It’s important to note that MarginEdge’s platform is highly customizable, so you can tailor the product categories and units of measure to fit your specific needs. Additionally, if you have multiple locations, you can easily add products across all locations with just a few clicks.

By using MarginEdge’s product management tools, you can keep your inventory up-to-date and accurate, making it easier to track food costs and manage your bottom line. With MarginEdge’s user-friendly platform, adding new products is a breeze, allowing you to focus on what really matters – providing your customers with great food and service.

How to Use the Inventory Products Page?

MarginEdge’s Inventory Products Page is a powerful tool that allows you to manage your inventory efficiently and effectively. With this page, you can view all your products in one place, easily make updates, and quickly see important inventory data. Here’s a step-by-step guide on how to use the Inventory Products Page:

  • First, log in to your MarginEdge account and navigate to the “Inventory” tab.
  • From there, click on the “Products” tab to access the Inventory Products Page.
  • On this page, you can view all your products, including the product name, category, unit of measure, and current inventory count.
  • You can filter products by category, view low inventory items, and even search for specific products.
  • To make updates to a product, simply click on the product name. This will take you to the product details page where you can update information such as the product name, category, and cost.
  • From the product details page, you can also view and edit inventory counts, add notes, and view sales history.
  • If you need to update multiple products at once, you can use the bulk edit feature. This allows you to make updates to multiple products simultaneously, saving you time and effort.

Using MarginEdge’s Inventory Products Page makes managing your inventory a breeze. With its user-friendly interface and powerful tools, you can easily stay on top of your inventory counts and make updates as needed. This allows you to focus on providing your customers with great food and service, while MarginEdge takes care of the rest.

How to Add, Edit or Remove a Count Sheet?

Managing inventory counts is an essential task for any restaurant or foodservice business, and MarginEdge makes it easy with its user-friendly Count Sheets feature. Count Sheets allow you to keep track of your inventory levels and make updates as needed. Here’s a step-by-step guide on how to add, edit, or remove a Count Sheet:

  • First, log in to your MarginEdge account and navigate to the “Inventory” tab.
  • From there, click on the “Counts” tab.
  • To add a new Count Sheet, click on the “+ New Count Sheet” button.
  • From here, you can select the location, date, and Count Sheet name.
  • Next, you can add products to the Count Sheet by selecting the “+ Add Products” button. You can either search for products by name or browse by category.
  • To edit a Count Sheet, simply click on the Count Sheet name. This will take you to the Count Sheet details page where you can add or remove products, adjust inventory counts, and view previous Count Sheets.
  • If you need to remove a Count Sheet, simply select the Count Sheet and click on the “Delete” button.

MarginEdge’s Count Sheets feature allows you to stay on top of your inventory levels and make updates as needed. With its user-friendly interface and powerful tools, you can easily manage your inventory counts and keep your food costs under control. This allows you to focus on what really matters – providing your customers with great food and service.

Top MarginEdge Alternatives

Both FreshBooks and QuickBooks Online offer cloud-based solutions, which means that they can be accessed from anywhere with an internet connection. They also offer mobile apps for iOS and Android, allowing users to manage their finances on the go.

MarginEdge

Fresh Books

Quickbooks Online

Free Trial

No, but free demo is available

30 days

30 days

Customizable Features

Average

Good

Excellent

Customer

Website ticket

Phone and email

Live chat, video

Support

System, weekly training sessions, video tutorials and help articles

Support, live chat and knowledge base

tutorials, phone and email support

FreshBooks is a cloud-based accounting software that offers features such as invoicing, expense tracking, time tracking, project management, and online payment processing. It is designed specifically for small businesses and freelancers who need a user-friendly and affordable accounting solution. FreshBooks has a simple and intuitive interface that is easy to navigate, making it a good option for businesses that are new to accounting software.

QuickBooks Online, on the other hand, is a comprehensive accounting software that offers a wide range of features including invoicing, expense tracking, payroll processing, inventory management, and more. It is designed for small to medium-sized businesses and offers advanced reporting and analytics features. QuickBooks Online also integrates with a wide range of third-party apps, making it a versatile and customizable option for businesses with more complex accounting needs.

When choosing between these alternatives, businesses should consider their specific needs and budget to determine which software is the best fit for them.

Conclusion

MarginEdge has proven to be an efficient tool for restaurant and foodservice businesses to streamline their financial management and inventory tracking processes. The software has helped many businesses cut costs, increase efficiency, and improve profitability. By providing accurate and up-to-date financial data, MarginEdge empowers business owners and managers to make informed decisions about their operations.

One of the advantages of MarginEdge is its scalability. The software is suitable for businesses of all sizes, from small startups to large enterprises with multiple locations. MarginEdge’s pricing plan is also flexible and based on the number of locations a business has, making it affordable for businesses at all stages of growth.

Another key feature of MarginEdge is its reporting and analytics capabilities. The software provides businesses with detailed insights into their financial performance, enabling them to identify trends and opportunities for growth. By analyzing data on sales, inventory, and labor costs, businesses can make informed decisions about pricing, menu planning, and staffing.

Furthermore, MarginEdge has a strong reputation for excellent customer support. The company offers various training resources to help users get started with the software quickly. Moreover, the company provides phone, email, and chat support to answer any questions or resolve any issues that may arise.

MarginEdge is a powerful tool that offers a range of features designed to help restaurant and food service businesses streamline their operations, save time, and improve profitability.

Frequently Asked Questions

  • Is MarginEdge Right for You or Your Business?

MarginEdge is a powerful tool for restaurants and foodservice businesses that need help with their financial management, inventory tracking, and reporting. Its user-friendly interface, intuitive features, and automated data entry capabilities make it a good fit for businesses of all sizes, from single-location restaurants to multi-unit chains. MarginEdge can help businesses save time and money by streamlining their accounting and inventory management processes, improving their accuracy, and reducing the risk of errors.

  • Does MarginEdge offer training?

Yes, MarginEdge offers training to help businesses get started with the software. They provide a variety of training options, including online tutorials, webinars, and live training sessions. MarginEdge also offers ongoing support to help users get the most out of the software and address any issues that may arise.

  • Does MarginEdge provide an API?

Yes, MarginEdge provides an API that allows businesses to integrate the software with other systems and applications. The API can be used to import and export data, automate tasks, and customize the software to fit the specific needs of the business.

  • Who are the typical users of MarginEdge?

The typical users of MarginEdge are restaurants and foodservice businesses of all sizes, including single-location restaurants, multi-unit chains, and catering companies. MarginEdge is designed to help these businesses streamline their financial management, inventory tracking, and reporting processes, and improve their accuracy and efficiency.

  • What level of support does MarginEdge offer?

MarginEdge offers a variety of support options, including phone, email, and chat support, as well as a comprehensive help center with tutorials, FAQs, and other resources. They also provide ongoing training and support to help users get the most out of the software and address any issues that may arise.

  • Can Marginedge integrate with other systems?

Yes, MarginEdge can integrate with other systems and applications, including accounting software, payroll systems, point-of-sale (POS) systems, and more. The software offers an API that allows businesses to import and export data, automate tasks, and customize the software to fit their specific needs. Additionally, MarginEdge has partnerships with a variety of third-party providers to offer integrations with popular systems and applications.

MarginEdge

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