Compeat is restaurant accounting software that also offers integrated restaurant and workforce management and back-office solutions. It allows managers to oversee employee performance, record inventory, forecast sales, and ensure efficient restaurant operations. It can also provide insights to help control costs and to ensure that everything stays within budget. Its pricing reportedly starts at $75 per month. It works best for restaurateurs who want a fully integrated back-office and accounting platform and business owners who want insights on their budget.
Compeat Pros and Cons
Direct posting of daily sales to general ledger
Pricing is not readily available
Offers a centralized inventory master list
Not compatible with some point-of-sale (POS) systems
Platform can be accessed remotely and even offline
Offers very few software updates
Who Compeat Is Best For
- Restaurateurs who want a fully integrated back-office and accounting platform: Compeat offers a full restaurant management solution that seamlessly integrates with its accounting platform. It features automated general ledger entry, budget forecasting, and employee management tools that can offer holistic insights into your business performance and financials.
Compeat’s pricing details are not readily accessible through its website. However, third-party sources report that it starts at $75 per month. Some of the factors that might affect pricing include the number of modules and the number of users who can access the platform. If you are interested, you can visit Compeat’s website to schedule a free software demo.
Compeat Alternatives 2020
Restaurant Accounting Software
Best for any restaurant that wants accounting, payroll, and operations all in one system
Best for those looking for accounting software that seamlessly integrates with their own POS system
Best for restaurants looking for an accounting solution that will integrate with the tools they already use to run their business
Best for catering businesses and mobile restaurants looking to streamline their operation and increase their profit margins
Best for foodservice businesses that have between one to 10 employees
Compeat offers accounting and management tools that can improve workforce and back-office performance. They can help manage costs and maximize profitability. Some of its key features include accounting, inventory, business intelligence, logbook, and labor management.
Similar to most accounting platforms, Compeat offers a general ledger that integrates with your POS system to record daily sales reports automatically. This comes along with the standard accounts payables (A/P), accounts receivables (A/R), and profit and loss (P&L) reports. It is fully paperless and includes full scanning capabilities, which can help eliminate errors due to manual data entries. It also comes with intercompany capabilities and consolidated reporting options.
Compeat’s Inventory module helps you control food costs. It can be used to manage and forecast food costs and restaurant profitability. It includes recipe analysis and menu costing to help you compare theoretical and actual ingredient usage and cost variances. It also offers an integrated ordering and bid system for replenishing stocks.
The Business intelligence module summarizes all the pertinent information regarding your restaurant to help you gain insights into fine-tuning your operations. It can run revenue reports, compare month-on-month labor and food costs, and many other back-office and POS data.
Compeat includes an electronic logbook that can be used to manage staff shifts. It provides a central location to document every detail of all shifts in all locations. It can be used to enter single or recurring checklists, tasks, events, messages, and other staffing notes. It can also be used to communicate with team members in real-time.
The labor module is used for managing labor costs and ensure compliance with government regulatory agencies. It provides a single source for all employee-related information, which can be accessed anywhere. It can also calculate daily labor costs, automate labor and work rules, and generate payroll.
Most Helpful Compeat Reviews
There are only a handful of published Compeat reviews available online. However, users are satisfied with its performance, saying that it offers a lot in terms of improving restaurant operations. Many reported that it is easy to use. Some, however, commented that it is not compatible with their POS system. Others also complained that it still requires manual data entry.
Provides an easy way to schedule tasks and replenish inventory
One user on Capterra commented that Compeat is easy to use. He particularly liked the scheduling and inventory management features of the platform, as it allows him to get work done and find information in the same place. He added that it improved their ordering system because the details of their vendors are easily accessible using Compeat.
Does not integrate with some POS systems
Another user on Capterra reported that when their company switched to a different POS system, they found that it is not compatible with Compeat. He complained that this resulted in more time spent in entering data into the system manually, even when the company promised full automation.
Compeat Frequently Asked Questions (FAQs)
Can I use Compeat for recurring invoices?
Compeat includes a recurring A/P invoices features that allow you to enter a batch of recurring invoices. This is useful for expenses that occur periodically, including rentals and mortgage payments.
What documents can I scan using Compeat?
Compeat can be used to import documents using the Scan Document tool. It can scan receipts, invoices, manual checks, and purchase orders.
How can I install software updates for Compeat?
Software updates can be downloaded for free by all users with a current subscription. You will receive an email whenever there is an available software update. To install, simply login to your Compeat account, choose Downloads, and click on the item you would like to update. An .exe file will be downloaded for you to install on your computer.
Our Top Restaurant Accounting Software Providers
If you aren’t sure that Compeat is right for you, then this article on the best restaurant accounting software is a review of our top choices. In this guide, we looked at a variety of solutions and narrowed our recommendations down based on the ability to track sales and expenses for multiple locations and business segments, integration with a POS system, and management of the unique aspects of the industry.