Thursday, January 23, 2014

Benefits and Uses of Your Restaurant POS System

With restaurant accounting, the only pain would be the initial outlay in setting yourself up with a great restaurant bookkeeping and accounting service – the gain would be an efficient, recommended and tailor made Point of Sale System, backed up by the expertise of a team who specialize in your field, guiding you through the analysis of your sales and expenditure on a timescale to suit your needs – daily, weekly, monthly, entirely up to you.

What you gain from a POS system is a multitude of accounting records from which you will easily be able to ascertain the trends of your business. A good POS system provides many excellent sales aids, at the same time as providing you with data to keep your business on track. It is entirely up to you to decide how small or how large your POS system is, but the following are the recommended aids for your business. Components of the system can be purchased separately, in order to avoid a large expenditure at the beginning.

Some tracking items available to you are:
  • Touch Screen Monitors
  • Bar Code Scanners
  • Hand Held Printers
  • Cash Drawers
The benefits of such hardware are manifold. With a system geared to your establishment(s) you will be able to access the following services and information:
  • Orders sent to different station areas – thus cutting down time for servers and other restaurant personnel. One order can be sent to as many stations as you have tools for. The server is able to maintain the full order, whilst the individual stations have theirs.
  • No handwritten orders, thereby cutting out mistakes, which can be costly
  • Processing credit cards, by using a magnetic reader – reports can also be ran relating to all credit cards transactions, as opposed to cash
  • Simple and efficient record keeping, with assistance from your restaurant accounting service to analyse, in real time, all profits, losses, inventory and ratings of your sales in order of popularity, plus many other features. Such information can be paper generated or kept as a digital file.
  • Reducing theft and other losses – a common occurrence in restaurants. By using a POS system, owners are able to track what was ordered, who took the order, if and how it was paid for – a very valuable tool.
These are just some of the important tools and services available to you – discussion with your restaurant accounting or restaurant bookkeeping service will be more than valuable in ascertaining what your needs and criteria in your particular restaurant or group of restaurants will be in order to button down your accounting processes. Like any other computer or web based systems, there are advantages and disadvantages, but that’s life!  But one thing is for certain – with the right accounting team and a custom made POS system behind you, the benefits will certainly outweigh any pitfalls. Taking ‘the sweat’ out of paper-pushing, will enable you to free up your time to concentrate on promoting and building your business without the worry of wondering whether you money is going in the bank, or up in smoke.


About the author
CFO Business Growth Solutions, LLC provides Nationwide Restaurant Accounting, Restaurant Bookkeeping Services, Menu Engineering, POS Business Intelligence, Menu Writing and CFO Restaurant Consulting Services.  For more information go to http://www.cforas.com
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