Product Release Notes – June 2021

We’ve loved watching sales ramp up as folks flood back into your restaurants and things start to feel – dare we say – a little more normal. As things accelerate across our industry our development team has kept pace with exciting new updates across our platform!

The high level:

• We can now show a Theoretical On-Hand for every product you inventory and PMIX map
• We’ve made it easier to manage the items and packagings on your order guides for ordering within MarginEdge
• We can pull more detailed, broken down sales data from Toast POS
• The Nightly Sales Email got another make-over to help you compare to 2 years prior
• We’re looking for some bill pay users to beta test our new Partial Payments feature
• And more!

As always, if you have any feedback or ideas to improve – we want to hear it! Just reply to me here or reach out to help@marginedge.com.

– Simon Krauss, Director of Product Management

Calculating Theoretical On-Hands

We’re excited to let you know that MarginEdge can show you your Theoretical On-Hands! This report can tell you how much you should have of any product based on the last inventory, amount sold, and amount purchased.

This value can be helpful as part of your inventory and ordering processes. For inventory, you can validate inventory counts based on what you are expected to have on-hand – for example if a count is much lower than your Theoretical On-Hand, it might mean that some of that product is elsewhere in the cooler. For ordering, a rough on-hand can help determine if you need to do a count at all – for example, if your Theoretical On-Hand is 58LB and you want to stay above 20LB, you can feel confident that you’ll have enough until the next order.

Keep in mind when using this number that 1) it does not include any known (or unknown) waste and 2) it only includes fully processed invoices, so it’s just an approximation.

If you’d like to learn more about how this release works, please check out our help article.

Improvements to managing Order Guides

We’ve made it even easier for you to configure your order guides with the right items and packaging! In our new “Manage Items” page, you’ll see all the items for the selected vendor. With bulk actions, you can add, remove, or reorganize multiple items on your order guide at once, plus easily search for an item in the search bar.

Once an item is on your order guide, you can now add and remove individual packaging options directly from the Manage Order Guide screen instead of navigating to the Vendor Item page or removing and re-adding the vendor item with the desired packaging.

Nightly Sales Email

We’ve made some additional improvements to your nightly sales email, especially since data from one year ago remains hard to benchmark against…

• If your sales email includes comparisons to Last Year and Two Years Ago, we’ll show the Period to Date and Year to Date rollups for both.
• We’ve added a Sales Benchmark from two years ago to view alongside your own year-over-two-year comparison.

We’ve also made some formatting improvements to make the email easier to read. If you’re still receiving the old format, please reach out to help@marginedge.com to get switched over.

Reporting Improvements

Multi-restaurant purchasing report – If you recall, our last release notes introduced the Purchasing Report, where you can see all purchasing across a given time range, category, and category type for an individual restaurant.

Now, users with multiple restaurants can aggregate spending across all of their restaurants to see a company-wide purchasing report.

The Purchasing Report can be found under the Products header in the left navigation.

Food Usage Report Categories – We’ve added a new Category Type grouping to make it clearer where the Food Cost numbers at the top come from. From Category Types, you can drill-in further to view Categories and Products.

Bill Pay

Partial Payments

We are releasing a Beta version of the partial payments functionality which will allow you to pay the total invoice balance across multiple payments. We will track what payments have been made and what balances remain to ensure you pay every invoice in full. Each payment is exported to your accounting system, and when the balance is paid off, the final payment will mark the invoice as paid in your accounting system.

If you use QuickBooks Online and would like to participate in our beta testing, please email me at simon@marginedge.com.

Other Bill Pay Enhancements:

We’re always thinking of how to improve your workflow as you’re using MarginEdge Bill Pay. Here are some updates to help bring relevant information front and center:

• Adding date filters on invoice date and due date
• Allowing all users who can edit bank account information to download PDF checks
• Showing the user who initiated a payment in the Payment Detail pop-up
• Showing a payment total on the Payments screen when selecting invoices for approval

Improved Toast Sales Reporting

If you use Toast POS in your restaurant, MarginEdge can now give you a more detailed picture of your sales data by pulling from Toast’s Breakdown Report. This means we can have sales entries show up by category (dessert, appetizers) by dining option, revenue center, service area, and more. This data from the breakdown report can be shown in the sales entries you export to your accounting system.

If you would like to setup your sales entries by a specific breakdown, please contact help@marginedge.com

Stronger Integration with Restaurant365

If you use Restaurant365 for accounting, you can now send all sales, invoices, and inventory adjustments data over automatically – no need for a manual import. Your vendor and chart of accounts in Restaurant365 will also update live in MarginEdge.

For credit memos, MarginEdge will provide a CSV file that you will need to download and import. For bill payments, you will need to manually mark them as paid in Restaurant365.

Please reach out to us at help@marginedge.com to upgrade your integration.

Beta Testing: Internal Transfers

If you have access to each restaurant in your concept, and are interested in beta testing the new internal transfers feature, please contact jamie@marginedge.com.

POS Integrations

New POS Integrations

• WooCommerce
• SuperMenu
• Infor

New Labor Integrations

• Micros

Labor Integrations Coming Soon:

• Focus Cloud
• Simphony (legacy version)
• Cake
• Digital Dining