Zeno Tax Solutions’ Post

🤔 Feeling shortchanged by your DoorDash and UberEats payouts? You’re not alone. 😩 Managing refunds, error charges, and mismatched orders can be a real headache. But it doesn’t have to be. Voosh simplifies this with our 🆕 financial reconciliation tool. Get clear insights on every transaction, sync your #POS with off-premise orders, and finally understand why your payouts are less than expected. ✅ 📞 Take control of your finances—book a call with us today! https://lnkd.in/gB5kjSDQ #FinancialReconciliation #Restaurant #BestPractices #Tools #Accuracy #Financial #Records #Reconciliation #POS #Accounting #Advanced #FSTEC #ReportingTools #CashManagement #Automation #Technology #Forecasting #Budgeting #ThirdParty #DoorDash #UberEats #Grubhub #ezCater: Bilal 🚀, Priyam, Kshitiz, Brandon, Chris, Pratik, 🍔🍟🍕🎙 David, Sterling, Angela, Angelo, Andrew, 🥪 Deric, Christopher, Justin, Adam, Eric, Food On Demand, National Restaurant Association.

Ever wonder, why that delivery ramen costs you an arm and a leg?? 🍜💸 To quote Vox, you're hoping for an $18 bowl of ramen, but they slap on those delivery and service fees. DoorDash hits you with a 15% fee, and Uber Eats...well, it’s complicated. And get this: restaurants aren’t partying with these fees either; apps take up to 30% off the top. So, with all these fees, you'd think these delivery giants are just barely scraping by, right? Nope. DoorDash and Uber Eats are making bank, which kinda makes you wonder about all those “struggling to profit” headlines. But here’s the kicker: it’s not all champagne and roses. Customers, restaurant folks, and the delivery drivers are feeling the squeeze. Delivery peeps, facing all sorts of risks, are bringing home less than the minimum wage in some spots. And efforts to bump up their pay in cities like New York and Seattle have had, let’s say, mixed results. In the end, we’re all caught in this wild ride of delivery economics, balancing convenience with the real costs behind that “quick” meal at our door. 🤷♂️

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3rd-Party Delivery Transactions in Accounting 🍕 Third-party delivery services like Grubhub, DoorDash, and UberEats have become essential for many restaurants, but the way these transactions are handled in accounting can vary widely. 🔢 Some companies prefer to treat the entire delivery transaction as revenue, then deduct fees as an expense. Others focus on net sales, where only the actual revenue after fees is recorded. Each method has its own implications for financial reporting, and understanding the pros and cons of both approaches is key. ✔️ Whether it’s about reflecting accurate sales figures or properly accounting for processing fees, handling third-party delivery can get complicated and time consuming. This doesn’t even take other aspects into consideration such as tips, returns, pricing levels, marketing & tracking the fees to your contracts.  ❓ How does your company account for your delivery transactions? Let me know in the comments! #RestaurantAccounting #ThirdPartyDelivery #AccountingBestPractices #JDPosnerBusinessSolutions #FractionalController #RestaurantFinance #NetSales

🍔 Grubhub just settled with the FTC and the State of Illinois for $25M 🍔 Grubhub, one of the largest online food delivery platforms in the US, operates in 2,400+ cities, connecting millions of diners, restaurants, and drivers. 🔍 Why Does This Matter? Even if you're not in the food delivery business, Grubhub's case is a masterclass in what NOT to do for digital businesses or subscription services. Note: Grubhub denies these allegations. Here is their response to the FTC: https://lnkd.in/es_A7xrq Here's the break down of what the FTC says Grubhub did wrong: https://lnkd.in/ezfT2YGF ✨ Key Lessons For Your Business: 1️⃣ Be Transparent With Pricing - clearly communicate fees upfront. 2️⃣ Back Claims With Data - ensure earnings claims are verifiable. 3️⃣ Simplify Cancellations - keep subscription cancellations easy. 4️⃣ Build Ethical Partnerships - get explicit consent before affiliation. 5️⃣ Honor Customer Refunds - protect & return user funds in all cases.

In a significant shift for the online food delivery sector, Grubhub's $25 million settlement with the FTC signals a new era of accountability. Accusations of misleading pricing, unauthorized restaurant listings, and opaque driver earnings have finally caught up with the giant, compelling changes that resonate beyond just Grubhub. As the FTC tightens regulations, competitors like DoorDash and Uber Eats should take note. The demand for transparency and ethical practices is louder than ever, and companies that adapt will thrive. With consumers now more informed and vigilant, this settlement serves as a wake-up call: honesty is not just the best policy—it's essential for survival in today's marketplace. The landscape is changing, and firms that prioritize trust and integrity will not only comply with regulations but will also gain the edge in a rapidly evolving digital dining world. The time for ethical transformation in food delivery is now—we must embrace it!