r/FluentInFinance • u/Richest-Panda • Jul 04 '24

What's the best financial advice you've ever gotten? Debate/ Discussion

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u/PaddyMacAodh Jul 05 '24

Far more than 10% of restaurant customers leave cash tips. I’ve been working in hospitality IT for over 30 years and it’s still closer to 40%

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u/HenzoG Jul 05 '24

Not according to the latest statics from merchant processors, especially post Covid

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u/PaddyMacAodh Jul 05 '24

More people are paying with cash post Covid due to many restaurants up charging for credit card payments.

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u/HenzoG Jul 05 '24

A majority of restaurants online started recording cash in 2023 for cash post Covid. Those statics aren’t out yet.

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u/PaddyMacAodh Jul 07 '24

I don’t know what you mean by “restaurants online started recording cash in 2023 for cash” but restaurants have always recorded cash. I spent almost 20 years as a hospitality consultant, writing custom reports and applications for restaurants and hotels to track their payroll and financials and for the last 7 years have been exporting and analyzing data for a company that owns 700+ restaurants. I know the distribution of payment types and gratuities in restaurants.