POS stands for Point Of Sale. This is a system that is used throughout the restaurant and retail industry. This computerized system allows business owners to track sales, cash flow, food inventory and can help simplify your bookkeeping enormously.
The right Point of Sale system will give you control over many different areas of your business operations increasing efficiency and profitability. A Point of Sale system will streamline business operations, including inventory and vendor management along with streamlining Point of Sale processes. The following overview, categorized by area of operation, highlights some of the typical benefits of using a Point of Sale system.
The high volume of cash and credit cards that pass through a business each day make a POS system a necessary. Not only does a POS system track every penny of your sales, many POS programs also act as credit card processors. This makes swiping credit cards more secure for both the customer and the business. Servers are accountable for all their sales, and it is impossible to alter checks in the computer unless you have the password. This helps cut down on employee theft.
For restaurant one benefit of a POS system is that it simplifies communications between t he kitchen and the wait staff. Orders go through the computer, directly to the kitchen printer. Another benefit of a restaurant POS programs is that it can track everything from food usage, to the most popular menu items. Because the POS system acts as a time clock, it can also help prepare payroll. This can save you a lot of money in your bookkeeping department. Along with the daily operations of running a restaurant, a POS system can organize profit and loss statement and sales tax.