5 Best Bakery Accounting Software (2024)

There are many benefits to working in a bakery. The smell of freshly baked goods in the morning; interacting with regular customers on their lunch break, and sampling new products as they come out of the oven. A baker has the responsibility of waking up early to start baking, running the store, greeting customers, cleaning up at the end of the day, as well as the financial planning of the business. That is why digital accounting tools are crucial to help streamline this part of your business. We have put together a list of helpful software to help your bakery run more efficiently.

Upfront Conclusion

The best accounting software for a bakery right now is QuickBooks and Xero.

Top 5 accounting software for a bakery.

QuickBooks – best for any bakery businesses
Xero – best for small businesses
Restaurant 365 – best for larger bakeries
Flexibake – best for integration
Cake Boss – best for brand new bakeries

1. QuickBooks – best for all bakery businesses

Pricing: starting from $25 per month. 30-day free trial offer

QuickBooks allows you to manage all your invoices, expenses, and accounting needs within one platform. QuickBooks offers essential tools for smaller businesses and more complex features for larger bakeries. The platform is entirely cloud-based and offers its users tutorials to help with setup.

Key features:

Manage expenses, invoices, bills, and inventory
Automated payment reminders
Personalized receipts
Create groups of customers
Audit trail tools (e.g., invoice history, analytics)

Reasons to buy:

Entirely cloud-based, which means high speed, quick deployment, and ample storage capacity
Free trial period to allow you to try it out before committing
It is a top-rated platform, so there are a variety of forums out there to get support
It can be managed on a mobile phone app, tablet, laptop, or computer
Includes key accounting elements to process invoices, track expenses, and analyze reports
Offers a range of packages at different prices points

Reasons to avoid:

Lack of professional or 1-2-1 support from QuickBooks
You will need to set aside a significant amount of time to learn all the features
The price of advanced packages with more complex tools such as employee expenses and workflow automation jumps to $180 per month

2. Xero – best for small businesses

Pricing: starting from $12 per month. 30-day free trial offer

Xero was created to help small businesses take care of their everyday business and accounting tasks. The software allows bakeries to keep on top of their cash flow, expenses, invoices, and projections and they can see the financial position of their business. The software also allows you to pay staff and integrates with other hospitality apps such as Square and Deputy.

Key features:

Pay bills, manage expenses, and accept customer payments
Connects with bank accounts
Manage the cost of staff members
Keep track of inventory
Future financial projections and analytics

Reasons to buy:

Affordable pricing starting at $12 per month, ideal for small businesses who may not have high cash flow initially
Learning programs available to upskill
Support hub to answer questions as well as Xero support team
Simple to use and easy to set up

Reasons to avoid

Additional $39 per month to use the payroll feature
Additional $53 per month to use multiple currencies, track projects, and claim expenses
Limited features included with the “Early” package

3. Restaurant 365 – best for larger bakeries

Pricing: starting from $289 per month/per location

Restaurant365 is ideal for larger bakeries that have established multiple locations and want to combine all the accounting of each site within one platform. You can see reporting on each site, cash flow forecasts and streamline processes through automation. The software can be used on the go and can be managed via a mobile app.

Key features:

Accounting software that connects to banks, suppliers, and payroll
Budgeting tools to find ways to save on costs
Financial reporting on all your locations or split by individual location
Manage and track inventory
Use on mobile or laptops

Reasons to buy:

Easily manage the performance of various bakeries in one view
Sales, invoicing, expenses, payroll, and reporting are all within the one tool
Offer a free demo
Integration opportunities with POS, vendors, and banks

Reasons to avoid

Complex and extensive software
No free trial to test it first
Professional packages jump to $489 per month

4. Flexibake – best for integration

Pricing: starting from $225 per month. 30-day free trial offer

Flexibake was built with bakeries’ needs in mind. It is a software that not only allows you to manage your sales and expenses but also helps with production planning, online ordering, and nutritional analysis. You will be getting a variety of tools within one platform. The software has powerful integration capabilities to combine any existing applications within one view.

Key features:

Live product costing to enable you to keep up with raw materials costs
Sales management to group sales together and automate invoices
Nutritional information per raw material and recipe
Integration with Quickbooks, Xero, and other accounting software
Production scheduling to meet deadlines

Reasons to buy:

Wide variety of features are included within the monthly fee
A customer care representative included within the package via online chat
Online training videos and how-to guides are available
One platform to combine your accounting needs with other business needs
Request a demo or try a free trial before committing

Reasons to avoid:

High monthly payments, starting at $225 per month for the standard package and increasing to $395 for the corporate version
Integration with other accounting software is needed

5. Cake Boss – best for brand new bakeries

Pricing: $149 per year, $20 annually after the first year

Cake Boss is a business management software ideal for bakeries who have just started or are operating from home. The software combines accounting with everyday business operations such as managing a calendar, appointments, and customer organization. It also allows you to create and store your recipes within the software.

Key features:

Log all business expenses and send customized invoices
Pricing calculator for generating accurate quotes and costing recipes
Order management to help with scheduling
Recipe storage within over 120 baking items pre-loaded
Financial and customer reporting tools

Reasons to buy:

Easy to use and set up
Affordable with one-off yearly payment and a 10% discount
Email customer support for life
Ideal for bakeries who have just started and want a simple way to manage finances

Reason to avoid:

Straightforward software with a lack of automation
May need a more complex software as the business grows
No payroll tools – more ideal for a sole trader

Frequently Asked Questions (FAQs)

How do I know which software is suitable for my bakery?

To decide which software is right for you, first, you need to think about the size of your business, what accounting needs you have, and the budget you have. If you are a small business looking to grow, you may want software that allows you to manage all your expenses, payment, invoices, and receipts at an affordable price. An option like Xero would be ideal. If you have a larger budget and manage a few different bakeries, software like Restaurant365 would be better for you. Think about your financial position and business goals, then review the choices listed above in this article.

Will running a bakery be profitable?

Although we have no way of knowing whether your bakery will be profitable, the industry is worth $11.3 billion*, so there is a market! The critical thing to do is make sure you have done your market research. Have you found a unique selling point? Is there a significant demand for your goods in your area? Do you have enough finance to set up and run the business? Are you aware of external factors that could affect the success of your business? These are all critical questions to ask yourself before starting your bakery.

How do I make sure that I can pay all my expenses?

It can be daunting to think about all the expenses of running a bakery. Initially, businesses have high setup costs. They need to find a store, buy machinery, raw ingredients, marketing, labor costs as well as paying wages. Therefore, planning is important, and using software to help you do so. Whether you are just starting or are looking to grow your bakery, take some time to think about a software to help you manage the cash flow in and out of your business, pay suppliers, manage invoices, and other accounting needs. Digital tools such as those listed in this article help you streamline your business, become more cost and time-efficient and take the guesswork out of your financial position.

*Source: https://www.hallidays.co.uk/views-and-insight/sector-report/bakery-product-production-industry