Making a Wise Purchasing Decision
There are many restaurant POS systems available to choose from, however when it comes to accounting, not all are up to the task. Some POS systems provide basic, built-in bookkeeping software, but as your business grows, you’re going to want to invest in software that specializes in accounting, such as Quickbooks. This is the important part: choosing a POS system that works with your accounting software. A wise POS purchasing decision could save you a lot of time down the road, especially as your company grows.
Save Time and Money
You can save hundreds of hours of manual bookkeeping every year by simply choosing a restaurant POS system that works together with your existing accounting and payroll systems. Look for a system that will create a general journal file automatically each night when you run your restaurant’s day end. Then, all you need to do is import the day’s journal file into Quickbooks—or any trusted accounting software. This saves you time (and therefore, money), and reduces human error.
Alternatively, if you have your own above-store accounting system, select a point of sale system that can push the data from your restaurants to head office. This will allow your chain to centralize payroll and accounting. It’s also a general best practice to have all of your locations using one point of sale system, so that all the information from your stores matches and is easily comparable.
Restaurant accounting software works alongside your POS to help you stay on top of your financial performance. By having a streamlined connection between your POS and accounting software, your end-of-day routine will become quick and efficient. Accounting software helps you manage and keep track of aspects of your business such as: payroll, tax relevant information, income, and expenses.
Derek Ross, the owner of the Pizza Factory in Hughson, CA, uses his SpeedLine point of sale to send reports directly to his accountant. For him, switching to a point of sale with the ability to compile and send his reports saved time in the restaurant. “It’s a lot easier. Took stress off my wife having to hand write reports. All of my day reports go to my accountant. My payroll comes right out of it. I run the report, send it to the accountant. My wife doesn’t have to do anything anymore,” he told us.
Posted on Wed, Dec 11, 2019 @ 07:12 AM.
Updated on December 23, 2020 @ 8:57 PM PST.
Miriam is the Marketing Content Specialist for SpeedLine Solutions and is always on the hunt for the next great topic to share with restaurant entrepreneurs all over the world. Whether it comes to writing a blog post or being a mother to her newborn, Miriam always leaves everything on the field.